The future of bitcoin dictated by the past and market psychology
The monthly chart doesn t need to much words. Just some explanation.
The white lines connects the previous top with the bottom of the next bull market and bottom of the next bear market. If bitcoin follows the same pattern then this means that the real bottom of bitcoin has still to come.
It took bitcoin only 8 months to reach top 2 starting from top 1. From top 2 to top 3 almost four years!!! That is why I don t believe crypto winter is over. Bitcoin and other crypto has still a long and painfull way to go.
I strongly believe that 3000 isn t the real bottom, just a temporary bottom. Part of the bubble correction. I compare this bottom with the one in april 2014. Deeper correction over a long periode of time will happen.
A true bottom needs to be tested multiple times to prove it is a bottom.
Not a perma bear but an unbiased realised.
The white lines connects the previous top with the bottom of the next bull market and bottom of the next bear market. If bitcoin follows the same pattern then this means that the real bottom of bitcoin has still to come.
It took bitcoin only 8 months to reach top 2 starting from top 1. From top 2 to top 3 almost four years!!! That is why I don t believe crypto winter is over. Bitcoin and other crypto has still a long and painfull way to go.
I strongly believe that 3000 isn t the real bottom, just a temporary bottom. Part of the bubble correction. I compare this bottom with the one in april 2014. Deeper correction over a long periode of time will happen.
A true bottom needs to be tested multiple times to prove it is a bottom.
Not a perma bear but an unbiased realised.
Comment:
Correction: The white lines connects the previous top with the bottom of the next bull market :)