Is This the End of the Crypto Bull Market?

Bitcoin has stumbled below $60,000 in The worst crash since the collapse of Crypto exchange FTX so the main Questions investors are asking now are What is causing this correction how low Will it go and most importantly is this The end of the bull market to find out We reached out to three crypto Market Experts and Traders I'm joavan your host Let's get into It it's either before the having or After the having there's a sell off Because it just kind of the hype is now Over and this excitement is now kind of Come and gone and there's this natural Tendency for people to kind of say okay Well you know without a major Catalyst To to drive price up what's the next Factor we look at and there's really Nothing right now I mean you could say You know the adoption by institutions But what we're seeing recently and this Is another key of why Bitcoin is Starting to fall and we can see on the Chart here is that it's really rolled Over over the last couple days is that The stock market which is risk asset is Starting to roll over people are getting Nervous about the FED keeping rates Higher for longer and that's also making Crypto holders very nervous about Holding their crypto positions and so This is the negative about having the Institutional involvement and the bigger

Investors involved is that they're going To trade it as a risk asset versus many Bitco Bitcoin hodlers they look at it And say Hey listen I'm going to hold on Forever but a lot of these newer Investors are not going to do that and That creates a little ad advice Volatility here it's The Hangover from The perfect storm in q1 for higher Prices so remember what we had we had The US launched ETFs having and beta US Stock Market making record highs and That was a perfect environment for Bitcoin to make record highs well it did So now we're in The Hangover stage the Question is how much longer how much Further it goes why is crude oil right Now $79 a barrel and why did natural gas Plunge um because they went up too much And that's the same thing that's Happened in the stock market the stock Market has gone up way too much it's Kept inflation boid and it's taken away Those Fed rate cut expectations the high Price cure has just trickled over to the Stock market so I don't think the FED Will cut rates or can cut rates until The US Stock Market goes down and shows Some form of deflationary forces right Now or certainly it has been for most of The Year showing inflation I was calling For a pullback drop a correction in Bitcoin minimum to 60k maybe even a bit Lower uh the reason was that when

Bitcoin was reaching the heights of 73k Or something like 73 75k back in March I Noticed it was extremely overbought the Macd indicator had reached a level of Overbought not seen since 2021 November 2021 right before the major drop Occurred so the big ones here are going To be this 52 to 53,000 level and then The 49 if the stock market continues to Collapse let's say we get a 20% 30% drop In the S&P then I actually think we go Even lower um but I will be starting to Accumulate in this 50ish th000 range in In my own portfolio if we go lower the Next big and I'm talking Epic Level Where I will heavily load up on bitcoin Will be around the 30 to 32,000 level And I'm a huge long-term bull even Though I'm I'm a little skeptical in the Near- term that we might go down a Little bit I think every investor has to Be aware that Bitcoin has pullbacks Right I mean it's it's nothing new to Bitcoin to see even a 50% correction Well 60 was the support that it just Just broke through that's just first Good Resistance you should expect responsive Selling and 50 is a first good support It broke above remember in uh in q1 and I I know they round numbers but Bitcoin Has a tendency to gravitate towards Round numbers before that was Gravitating around 40 so 50 to 60 for

Now 60 is good resistance think that What I see right now with Bitcoin Breaking below 60,000 I think we should Expect S&P 500 to break below 5,000 Which means all the dominoes tumble I'm Seeing this drop exactly what I said it Was over a month ago as a correction as A pullback a healthy correction healthy Pullback ABC correction so I think this Recent drop joavan is the seawave of the ABC pattern I recently expected I was Calling for Bitcoin to drop down to some Key Targets near 57 56k so we're pulling Down to that level so that means as as Long as Bitcoin stays above 50k key Support and as long as it stays above This trend line or moving average in the Weekly chart I'm still looking for one More push higher sometime in the next Several Months there are signals in the charts That are telling us that we might be at A short-term bull market high but again You know the beauty of it is is that Bitcoin can move up and down so quickly That you know we could go into a bare Market for six months or 12 months but At some point we're going to rip higher And I'm a big believer that eventually We do RIP higher and we go we go to that 100,000 marker and one of the things That really bothered me in the crypto Markets over the last three months was That we were seeing the scam coins and

These new meme coins going nuts which Wasn't it's that's not the mark of like A new bull market that's the mark of an End of a bull market if Bitcoin breaks Below 50k support uh in a sustained Fashion that could mean that Bitcoin is Topped in the rally we saw in the last Few months I should say that that to me That's a low probability my higher Probability is that this still still a This drop is a correction an ABC Correction once it completes hopefully Above 50k then I think we could rally to New all-time highs uh sometime in the Next few months I I think just another 10% lower an S&P 500 it's a normal Correction in a bull market which means You'd expect Bitcoin to drop 20 to 30% On a normal volatile adjusted basis to Me that's the key thing now is watch Beta if beta goes up Bitcoin will do What it normally does and be the fastest Horse in raceing outperform beta beta Goes down which I expect Bitcoin is Going to suffer but the rest of the Cryptos massive silly speculation they Have got big problem with beta going Down they're going to go down a lot Harder [Music] [Music]


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