General Markets: S&P500, Nasdaq, and Dow Jones Industrial Average topped in January 2022 like they were already expecting that something bad economic event would happen in the near future. Then Russian-Ukrainian War broke out a couple of weeks later. They have been declining ever since and should be labeled as a bear trend now. Having a bear market is inevitable considering the fact that we have so much cash, which had been generated by the Gov. as stimulus checks during the COVID-19 lockdown, running around the economy and impacting many businesses. The top segments of these markets were pumped by the abundance of printed money. That is why the up-trend movement started on 3/21/2020 after the declaration of the COVID Pandemic moved up quickly until January 2022. It was so fast and seemed to shoot off the chart. That made people think that the market is so strong that many investors were excitedly buying many stocks. However, you have to remember, this is not normal market behavior. It should not last for a long time as a rule of thumb. The fast trend in the S&P500 was moving up from 2180 to 4800 and provided 120% return to traders in 648 days (Just over 1 year and a half).
On the other hand, Bitcoin (BTC) along with other cryptocurrencies topped 6 months before of the general markets. BTC topped in May 2021 and the bear trend began. This was predicted on my blog BTC/USD Prediction in May 2021 and It was spot on prediction.
A year later, on 6/20/2022, I made another prediction of BTC WHEN and WHAT price to be hit at the bottom of the BTC market and bounce back as a correction. This movement was expected to rally fast and called it a fast money-making opportunity in another blog (Fast Money Making Opportunities, Correction BTC $17,500). My prediction was close, however, he true bottom didn't come until November 2022, which was 4 months later.
These are the predictions I made and posted on my personal Facebook. Looking back two years, my predictions for the BTC price are very accurate, however, the time predictions are a little off around 4-5 months. I would like to credit myself 80 % on the accuracy of my predictions.
On this date 4/12/2023, the BTC price is $30,000/BTC. My predicted price for the correction is $35,000, I believe that it would go back to the price and finish the correction. Then it will turn around and continue to go down below the $15,000 resistance level. I cannot tell, at this point, what price it would drop to but regardless of what the BTC market offers in the future, I would like to wait it out for the recession to be completely over.
