Bitcoin target reached
What now?
Bitcoin has reached the $68k target I was aiming for. Just 22 days ago, BTC was trading at $54k with extreme fear in the market.
People on my timeline were predicting a double top, the end of the cycle, and even the collapse of crypto.
I encourage you to review what I advised my followers during that time:
In essence, I argued that it was highly unlikely BTC's cycle would end. Sentiment had reset, and the price was at an attractive level for adding positions.
Bears may justify their calls with excuses like "Trump got shot, it changed the game!" or "The Ethereum ETF launch was announced!" I don't claim to be right all the time. I simply stick to my plan, positioning for BTC's current 4-year cycle. This involves assessing probable outcomes and accepting that downside is part of the process.
Some said, "So Bitcoin can go down or up, you are a genius!" No, it’s about being prepared for any scenario and knowing how to respond. I still believe the $54k low should hold m, which means there is a structural change in the trend. In such a case, I’m ready to close my crypto positions, though I see this as the least likely scenario given current price action and tailwinds.
For now, I’m taking a neutral stance since we’ve reached my target. Will Trump cause another Trump pump with his speech in Nashville today, or will it be another 'sell the BTC conference' event? What I do know is that I’m fully allocated for the bull market to resume in 2025.
Written by Timothy Assi, a popular investor on eToro. Follow & copy my portfolio:
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Good call, solid plan. Come on 2025!