When in doubt zoom out. The bigger picture
This is the Total Market Capitalization of all Cryptocurrencies.
I measured the fibbonaci retracement, startimg from the beggining of this bull market. In my understanding the current Bull market started after we broke the previous All time high at around 750 billion USD
that we reached in January 2018.
As you can see we are at the moment at around 61.8% correction, even though we moved lower earlier. At the same time we are around 500 billion away from the previous low that we reached in June 2021.
I think the market sooner or later will test those levels (1,25 billion to 1,15 billion) but we will see a massive resistance there.
No-one can predict what will happen in the end. But given that the fundamentals are more bullish than ever, crypto is here to stay, (not shitcoins), I think that the current crash is the biggest buying opportunity that we will see in the near future.
They will kill FIAT by printing, because this is the only option that they have without catastrophic consequences.
The raise of interest rates is already priced in, we will see some intense volatility this week, but I do not think that we will cross below the 1,15billion market territory.
I will protect myself from the total collapse of FIAT, by accumulating more BTC, ETH and some other of my favorite cryptos at those levels.
What do you think will happen?
Let me know in the comments below.
Any feedback on my analysis is welcome.
I measured the fibbonaci retracement, startimg from the beggining of this bull market. In my understanding the current Bull market started after we broke the previous All time high at around 750 billion USD
that we reached in January 2018.
As you can see we are at the moment at around 61.8% correction, even though we moved lower earlier. At the same time we are around 500 billion away from the previous low that we reached in June 2021.
I think the market sooner or later will test those levels (1,25 billion to 1,15 billion) but we will see a massive resistance there.
No-one can predict what will happen in the end. But given that the fundamentals are more bullish than ever, crypto is here to stay, (not shitcoins), I think that the current crash is the biggest buying opportunity that we will see in the near future.
They will kill FIAT by printing, because this is the only option that they have without catastrophic consequences.
The raise of interest rates is already priced in, we will see some intense volatility this week, but I do not think that we will cross below the 1,15billion market territory.
I will protect myself from the total collapse of FIAT, by accumulating more BTC, ETH and some other of my favorite cryptos at those levels.
What do you think will happen?
Let me know in the comments below.
Any feedback on my analysis is welcome.