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Preston | Investor Insight's avatar
Here is my current look on $BTC.X. Just sharing to give another idea on what could happen. I am also paying attention to $BTC.X as it has never gone through a recession. If we see a recession, we very well could break this parabolic uptrend, but true support does not start until $10k - $13k.
BanklessDAO's avatar
@investorinsight still a long way to fall until $10k. Lots of people will become disillusioned between now and then. (Many first cyclers already have in the drop from $60k)
Preston | Investor Insight's avatar
@banklessdao Yes still another potential 50% drop over the next few months. I am not sure what you are meaning.
BanklessDAO's avatar

And clarification; "first cyclers" just refers to people who have entered crypto 'This cycle'. They tend to leave more quickly when price moves against them. The more price moves down, the more new people to crypto leave. The one's who stick around get to be 'second cyclers' the next time we have an up cycle :)
Preston | Investor Insight's avatar
@banklessdao So you think it has potential to go to 10-13k as well? I have never heard of first cyclers and second cyclers, so thanks for sharing new info.

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