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🔥 Bitcoin Situation
The week is closing exactly the same way as in May 2022, when crypto company scams caused a crash; now it’s OIL. If we draw parallels in timing and chart (, look at the weekly chart in the post ), then next week, already tomorrow if you’re reading this on Sunday, we should see a decline.
The FACTOR that will cause the decline is the rise in oil prices. Currently, the market is closed, oil has stabilized at $94, and Iran’s economy minister believes that on Monday, oil will reach $100 in trading.
Basically, rising oil -> rising inflation -> falling SPX -> falling crypto. The logic is simple.
In general, my expectation was $120, as I mentioned in the video before the war even started, when it was at $74. Now, due to recent news about the cessation of oil and gas extraction in the entire Gulf: UAE, Qatar, Bahrain, and neighbors, this would mean a loss of up to a third of global production and an actual energy shock.
At this point, $150 in March is also possible, as I said, it all depends on how long this lasts.