You add in high oil prices and inflation and its already hurting the consumer all over the world. But basically, what i think is you get into a recession? Yes, thats going to put a little pressure on bitcoin, but my guess is: bitcoin is already near the lows at that point, meaning its 12 ish thousand or lower, and there you have it from gareth soloway hes talking some low figures here. Recession well get to that at the end of the video. So make sure you hear what greth actually has to say before we get to any of that, make sure you go ahead and check us out at bitcoinbros26, which is crypto enthusiasts, talking crypto every single day, and you know we do. We do our weekly polls and this weeks poll is: do you think 17.6 k was the bottom for bitcoin prior to us, going back up to the upside right now over half of you guys think that thats, the case 32 percent are saying: nope were going lower And 10 dont have any idea we want to hear from you. We want to get a temperature check on the market and see what you guys think so make sure you let your voice be heard. We have six days left in this poll. Lets see how many votes we can get on this one, taking a look at the crypto fear and greed index right now, we are still in extreme fear. No surprise here were at nine, take a look at the bitcoin price chart how low we go.

We showed you this yesterday and looking from cycle top to cycle top. We can see a similarity here from back in 2013 to 2017 that took about almost 1461 days and then from that peak in december of 17 to 14 61 days forward that took us up to that 69 000 peak, so that 1461 might be the magic number. So if thats the case whens, the next time were going to see the bitcoin peak, this could be december of 2025.. Now, no one knows what this price is going to be. Everybody can speculate but thats after the next having so theres a good chance that 69k could have been the cycle top theres. A lot of people saying that you know this is the third leg. This is the fourth leg pullback. We still have that fifth leg blast off to occur and that could occur, but that could occur in 2007, which means that this could occur in december of 2025 or around that time frame after the next. Halving this doesnt have to occur right away because were talking about fed rate hikes were talking about a looming recession. Bitcoin could make a rally up, but they could come back down and hit its face before and making somewhat of a double bottom pattern before it blast up to higher time frames after the next halving in 2024., its more bitcoin price action. We showed this downwards wedge factor that this was coming, that this was playing out and right now we did break out of it.

So that is definitely good news, but we have a lot of resistance up here around this 23 6 at 23 7 level, and if we do come up, this would sort of complete this rsi to come up in the overbought territory. Before coming back down. We could take some time before we come up and hit our head on this line up here and thatll. Take us into that overbought territory up here before coming back down to the downside and then well just stair step our way down and stair step our way down. We actually could come put a new lower low in around the sixteen thousand dollar target. You know, or this could come up hit our head act as a fake out, come back into the channel and then have you know, attempt to break out again hit our head again and then fall all the way down to what those targets that great solid way Was talking about around that ten to twelve thousand dollar range thats going to be what we see in the cars for bitcoin prior to you know, seeing some more upwards momentum and then taking a look at you know putting things in perspective for you. You know these are the highs and the lows highs and lows: you see: bitcoin just continues to do this s shape and, as you see, were having lengthening cycles. You know this is definitely apparent um. But one thing to note is: if you just look at the lows: 1.

99, 162, 3124, potentially 17 585: it could go lower, but regardless we see that the numbers in time just continue to increase. We went from 1242 to 19 804 whats going to be that next peak was it. The 69 thousand dollar top tom will definitely tell and then update from greg soloway lets get his take on what the fed is doing. The looming recession that could be occurring and what the outlook for crypto is lets hear what red has to say. Yes, i am in the camp that later this year, early 2023. We do enter a recession. I think the fed again is being you know as much as i was a fan of them, never printing as much money. I think they waited too long to to kind of start pulling back on it at this stage, um and now its now honestly theyre going too fast theyre playing catch up. So so that likely will push us into a recession. You add in high oil prices and inflation and its already hurting the consumer all over the world, but basically what i think is you get into a recession? Yes, thats going to put a little pressure on bitcoin, but my guess is: bitcoin is already near the lows at that point, meaning its 12 ish, 000 or lower, and so theres minimal downside. At that point, could it go to stick sure, but when youre at 65 000 and it drops from twelve, you know six thousand dollars its very very small percentage, wise itll be bigger down here, but again, my my at least for what im doing, and i can Only speak to what im doing is im looking at the bigger picture now, as we get in these lower levels to where it will be in three five.

Ten years out and again, ive talked about how it how the chart – and this is played out perfectly david and you guys know we – we compared the amazon chart in the dot com bubble to the bitcoin chart in the last year, and they are almost identical and We know the dot com bubble burst. I think thats whats happening with crypto here and remember. Amazon went from about 112 to about six bucks, so thats about a 90 plus 90 plus percent drop, maybe close to 95. bitcoin. Maybe does that if it does that think about where amazon went afterwards, it went all the way from six dollars to about three thousand to four thousand dollars um a share. If you map that out on bitcoin, there is massive massive upside as it gains traction as kind of a safety gold type digital play. So i think that the key is going to be is right. Now, alts are still in favor. People still have faith in them. Um, i do decouple ethereum from other altcoins and even stuff like cardano and polka dot, basically the top 20. I look at the ones that maybe they can survive this everything else. I would say they will decouple very very soon if they already havent and they likely wont recover when bitcoin bounces enough right, so so when bitcoin really starts to become that safer asset. That kind of is is inflationary in terms of protecting against inflation.

I do think that the top 20 may survive and may thrive, but i would definitely be very careful about anything else because again folks, you have to look at these as use case, you know when, when lots of money is in the system, people will pump money Into these things, theyre not even going to make give a second thought once you get in a bear market, its really whats, valuable and whats. Not and big money is whats going to drive crypto in the future. That is absolutely going to be it and theyre going to look for use case. That has real real use case. Ethereum has use case. Bitcoin has the digital gold, its really the only one talked about like that. Some of these others have good good basis as well. For a use case, a lot of them dont have that so be very, very careful with most of the alts and there you have it from grass salloway. He sees aluminum recession by the end of this year or early next year, and also hes saying you better. Be careful playing around in the altcoin market, he believes that some of the top 20 will survive, but you know a good portion of these could be wiped out. You have to look at real world use case. We agree with that from gareth. Definitely a good game plan. You cant go wrong with bitcoin and you know anything that has a leader in place, not isnt a hundred percent guaranteed.

So just keep that in mind not saying theres, no legitimate leaders in the crypto space, but it all depends on how much risk youre willing to allocate towards your portfolio and with that im sean with the bitcoin bros, make sure you guys go ahead and check us Out at bitcoinbros26 before you leave and if you guys like this content, go ahead and smash the like button. If you havent subscribed to the channel go ahead and show us some love, we appreciate the support with that thats.