Crypto in Free-Fall

Jun 14, 2022

Click the blue headers to view the referenced past update.

October 2021 Bitcoin Update

Bitcoin was hitting new all-time highs in October of 2021, but market technicals were bearish and suggesting an imminent correction.

April 2022 Bitcoin Update

April 2022 bitcoin was advancing higher; however, market technicals were still bearish, strongly hinting that the advance would not last.

Bitcoin 2022 Forecast

Bitcoin is now in a free-fall and the next logical level to watch is around $20,000. In my 2022 bitcoin forecast, I projected a bottom at around $20,000. This is a logical area of support for bitcoin to form some type of consolidation/bottoming pattern.

My confidence that this will be “the bottom” is low given bitcoin is currently highly correlated with equity markets and thus trading just like any other risk asset. The economic headwinds that are adversely affecting equities are also affecting crypto. This is not a good sign given the odds of a recession are high.

 

 


Craig Thompson, ChFC

https://asas-inc.com/

Email: craig@assetsolutions.info

Phone: 619-709-0066

Asset Solutions Advisory Services, Inc. is a Fee-Only Registered Investment Advisor specializing in helping the needs of retirees, those nearing retirement, and other investors with similar investment goals.

We are an “active” money manager that looks to generate steady long-term returns, while protecting clients from large losses during major market corrections.


Asset Solutions may discuss and display, charts, graphs, formulas which are not intended to be used by themselves to determine which securities to buy or sell, or when to buy or sell them. Such charts and graphs offer limited information and should not be used on their own to make investment decisions. Most data and charts are provided by www.stockcharts.com.

Asset Solutions is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.

All charts provided by: Tradingview.com and StockCharts.com

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