Bitcoin big dump to $86,000, will it rebound by the end of the year?

Question

[Coin World] Bitcoin has fallen quite sharply this time, directly dropping to $86,000. The market liquidation caught many off guard, and many people estimate they have been played for suckers again.

The more exciting things are still to come—this week is packed with macroeconomic events. The big shot from the Federal Reserve is about to speak; will the quantitative tightening policy be eased or not? There are also a bunch of economic data to be released: JOLTS job openings, PMI manufacturing index, ISM data, PCE inflation… each of these could stir up waves. The crypto market is now like a taut string, ready to be plucked by these news.

However, some people are optimistic about the market outlook. Technical analysts have made predictions: by the end of December, it may crawl back to around $88,000, and there is even a chance to surge to $104,000 in February next year. Of course, this is predicated on the macro environment not causing any further troubles.

The current market sentiment is indeed not very optimistic, but volatility often means opportunity. Keep a close eye on these data releases over the next few days, as you might find an entry point.

CrossChainMessenger · Accepted Answer

Played people for suckers again, the Fed is really ruthless. Let&#39;s wait for the bottom signal.

BridgeJumper · Answer

86,000? They are starting to play people for suckers again, this wave of liquidation must be brutal.

RamenDeFiSurvivor · Answer

86,000, so what? We&#39;ve seen worse, if it&#39;s liquidation, then let it be, I&#39;ve already gone all in anyway.

BlockchainArchaeologist · Answer

Another fall, is this time really different?

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Before the Fed data came out, there was no confidence to buy the dip.

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86,000 is said to be sluggish, so what was it when it was at 40,000...

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No matter how good the technical analysis sounds, it can&#39;t withstand a single word from the macro perspective.

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The liquidation happened so quickly, indicating that the retail investors have really run out.

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88,000 by the end of the year? I think that&#39;s unlikely... it all depends on the Fed&#39;s mood.

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Fluctuation means opportunity? You need bullets for that, brother.

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At this rate, rushing to 104,000 in February next year will probably require a dream walk.

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This time is different, really really. (crazy hint)

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Every time it&#39;s said that the technical analysis is bullish, why does it still fall?

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Where is the bottom? The problem is, nobody knows.

CrashHotline · Answer

It has fallen again, really can&#39;t hold on anymore, the Fed&#39;s actions have left people confused.