CRYPTOCURRENCY - TOTAL MARKETCAP - WILL HISTORY REPEAT ITSELF ??
I`ve been in this market for 5 years now, and ive seen this bullrun before ! So therefore we should ask ourselves - when will the trend reverse ?
1. The 31st of Aug 2017 the marketcap was approx 160 B, and at the start of Jan. 2018 it peaked at approx 760 B before the reverse kicked in. This gives an 475% increase from August 2017 - Jan. 2018.
2. If we use the same pattern and go from 31st of Aug. 2020 the cap was at 400 B, and now at the start of Feb. 2021 we just hit 1400 B. If we use the 475% bullincrease we should reach approx 1900 B before we see a bearish trend . That will let BTC go too aprox 60 000 and to ETH 2500.
3. There will always be differences between 2017 and 2021 - adoption by big coorporations and more Institutional money, new traders ( RH ), Reddit / Elon Musk and The Doge Hype. But at the end of the day people generally wants to take profit, and when enough people do - and we eventually go into a profitsqueeze the tide will turn yet again !
What do the people of tradingview think of this poor but real analysis ? - Comments are very much welcome !
- Sometimes we got to zoom out on the charts to see the bigger picture -
1. The 31st of Aug 2017 the marketcap was approx 160 B, and at the start of Jan. 2018 it peaked at approx 760 B before the reverse kicked in. This gives an 475% increase from August 2017 - Jan. 2018.
2. If we use the same pattern and go from 31st of Aug. 2020 the cap was at 400 B, and now at the start of Feb. 2021 we just hit 1400 B. If we use the 475% bullincrease we should reach approx 1900 B before we see a bearish trend . That will let BTC go too aprox 60 000 and to ETH 2500.
3. There will always be differences between 2017 and 2021 - adoption by big coorporations and more Institutional money, new traders ( RH ), Reddit / Elon Musk and The Doge Hype. But at the end of the day people generally wants to take profit, and when enough people do - and we eventually go into a profitsqueeze the tide will turn yet again !
What do the people of tradingview think of this poor but real analysis ? - Comments are very much welcome !
- Sometimes we got to zoom out on the charts to see the bigger picture -