Did Crypto bottomed out? When to buy? And what to buy? Let's | CryptoExplorer ✪
Did Crypto bottomed out? When to buy? And what to buy?
Let's go into detail here and see what our experts have to say:
Jacques | CryptoExplorer Trader & Analyst @ CryptoExplorer Responsible for the Trader Portfolio (includes short time trades)
I have been debating whether the bottom has been in now for some time. Many of the headwinds we were fearful of have played out and it's looking like we're now just a few months away from the end of the FED rate hike cycle. I was hoping we would get new lows due to Earnings being revised down majorly for 2023, however we have just seen Q3 Earnings come in this last week for Big Tech, be poor, and yet the Index's have rallied.
With this new information and many of the on-chain metrics all showing signs that we have bottomed or are at least in a bottoming range, we should be open to the bottom already being in (June lows).
I would now place the odds of the bottom being in as greater than 50%. Remember, markets tend to bottom 6-12 months before the economy does... they're forward looking.
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