{"id":14048,"date":"2022-09-20T01:07:07","date_gmt":"2022-09-20T01:07:07","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/the-market-isnt-surging-anytime-soon-so-get-used-to-dark-times\/"},"modified":"2022-09-20T01:07:09","modified_gmt":"2022-09-20T01:07:09","slug":"the-market-isnt-surging-anytime-soon-so-get-used-to-dark-times","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/the-market-isnt-surging-anytime-soon-so-get-used-to-dark-times\/","title":{"rendered":"The market isn’t surging anytime soon \u2014 so get used to dark times"},"content":{"rendered":"
Global markets are going through a tough period \u2014 including the cryptocurrency market. But judging by talk from the peanut gallery, it seems like some observers haven\u2019t received the memo.<\/p>\n
\u201cFeel like we’re relatively safe through mid-terms,\u201d Twitter’s \u201cCryptoKaleo\u201d \u2014 also known simply as \u201cKaleo\u201d \u2014 wrote<\/a> in a Sept. 12 tweet to his 535,000 followers, referring to the United State\u2019s November mid-term elections. The prediction was accompanied by a chart indicating his belief that Bitcoin’s (BTC) price would surge to $34,000 \u2014 a 50% gain from its roughly $20,000 level as of last week \u2014 before the end of the year.<\/p>\n \u201cOf course we can bleed lower,\u201d fellow pseudonymous Twitter mega-influencer Pentoshi wrote<\/a> in a Sept. 9 missive to his 611,000 followers. \u201cBut the market at this value is far more attractive than it’s been in over a year. [\u2026] I grabbed a little $BTC yesterday \/ no alts but will be nibbling.\u201d<\/p>\n Those assessments come from the \u201crespectable\u201d observers \u2014 those who have periodically been correct in the past. One gentleman in my inbox today \u2014 a Charlie Shrem looking to sell his “investing calendar” \u2014 assured readers that a \u201cmajor crypto \u2018run-up\u2019 could begin tomorrow.\u201d Look further and it isn\u2019t hard to find even more bullish prognostications, like the prediction<\/a> that Bitcoin is on the cusp of a 400% surge that will bring it to an all-time high price of $80,000 and market capitalization of $1.5 trillion \u2014 $500 billion more than the value of all the silver on Earth.<\/p>\n It\u2019s good to see the optimism running rampant, even if it is mostly among influencers looking for engagement and paying customers. Unfortunately, macroeconomic headwinds indicate the reality is a little darker \u2014 perhaps a lot darker. <\/p>\n