Signs of Continuing Bearish on Bitcoin Chart

Bitcoin has been in a downtrend for a long time after testing the $70,000 resistance. Although small investors do not buy a lot of BTC, they are trying to follow as other coins they buy are tied to BTC, but the chart does not seem very appetizing for now. For it to break a general downtrend, there must be very good news. Macro markets are also not very encouraging. The future belongs to the blockchain world, this is an undeniable fact, but since the event is considered purely as an investment, the BTC chart has become a necessity like bread and water.
Bitcoin, which seems to fall even more now that it has even tested the $32,000 support, seems to enter an uptrend again after a short decline when the daily chart is followed. It will be beneficial for investors to progress by taking profits. Of course, none of these are investment advice, but they contain the data obtained as a result of the graph analysis.
Bitcoin 2022 Forecast What?
Many phenomena, especially Willy Woo, mention 3-digit numbers for the Bitcoin 2022 year-end forecast. However, for now, the world is on the edge due to both macro markets and Corona risk. The fact that even the USA could not meet its inflation expectations shows that interesting developments will occur. It is exciting that the first target is the $65,000 band and then the $100,000 band, but it does not make much sense to create an expectation independent of the general developments.
The world of crypto money has made Turkish investors more daring. While they were not such a keen nation to invest before, the possibility of getting rich made it possible for every Turkish youth over the age of 18 to meet with crypto money. Of course, most of them lost because they did not manage the investment psychology well and they lacked the basic information. However, they continue to pursue opportunities with perseverance.
Thanks to the Turks, who are among the largest investor communities in the world's largest stock exchanges, the stock exchanges started to open their offices in Turkey. The trend that started with Binance continued with FTX and Huobi. The fact that these exchanges use Turkish for communication has attracted many who are indecisive about investment. The fact that banks do not require Tether (USDT) to deposit Turkish Lira has actually made it easier for many people.
The Idea That 90% Of Cryptocurrencies Will Fail
Economist Özgür Demirtaş claimed in a YouTube video that 90% of cryptocurrencies would fail. The fact that most of the coins mentioned today will make their investors suffer in the future scared new entrants to the market. However, when the work is put into numbers, after a while, it turns out that only 150-200 tokens will remain intact in the market.
Looking at the CoinMarketCap data, the graph of the coins after the tokens in the top 100 is not very good. Conscious investors are also enjoying themselves by making long-term investments in the top 100 tokens. Therefore, what Demirtaş said is definitely not wrong. Of course, when that time comes, it does not mean that only 100 tokens will remain in the market. Blockchain industry is such a fast-developing technology that; There will always be newly designed projects and these projects will always find investors.
Blockchain Technology Overview
Despite receiving billions of dollars in investment, building thousands of tokens and hosting dozens of new concepts, Blockchain technology is still not fully understood. Experts believe that this technology has the power to transform the future, facilitate many economic transactions and even create a parallel universe. In other words, to reduce the event to the axis of crypto money means to underestimate this industry.
First of all, it is necessary to talk about Web 1.0 technology. In other words, technology with computer and internet but only one-sided information transfer. Information is received from the computer, but the user could not transfer what was in his head.
Then, with the Web 2.0 technology, the era of mutual interaction between users and the web began. It entered our lives so fast that; Applications such as chat and Messenger have also been adopted by our people.
So, has the technology stood still? Now there is Web 3.0 technology, which is mind-blowing. To summarize for those who do not fully understand the event; There is no other user in front of you this time. This time you are dealing with artificial intelligence. The user specifies the action he wants to do, and the artificial intelligence follows, concludes and responds to this action.
It would be more correct to approach the Blockchain industry from this foundation. It is necessary to be open to the idea that this new technology will develop more, with the understanding of writing codes to create billions of blockchains and allowing users to transact on these blockchains in a decentralized way.