How The 55% Bitcoin Correction Revives Comparisons To Past Bull Cycle
Bitcoin price is still trading at more than $25,000 less than the local highs set earlier in the year, and bulls have a lot of ground to reclaim. However, the lost ground might not be so bad after all, as it has brought the current market cycle a lot closer to past bull cycle comparisons, which could shed some light on what’s left for Bitcoin in terms of price action in the months ahead. Bitcoin Collapse Puts Market Cycle On Par With Previous Bull Run Following a sharp more than 55% decline across the board in cryptocurrencies – even the top dog Bitcoin – the market is....
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Bitcoin price this week blasted off from $30,000 to $40,000 in a 25% move. Although the momentum was provided by an epic short squeeze, the leading cryptocurrency by market cap could continue to run much higher if diagonal downtrend resistance is broken. The breakout would confirm what looks like a bump-and-run reversal bottom, which according to the authority in chart patterns, has the best bull market performance out of 39 other chart patterns. Could this be the signal that bulls have been waiting for to restart their charge? Bitcoin Bulls Could Be Ready To “Bump And Run”....
According to a CryptoQuant analyst, the Bitcoin price top isn’t in yet if the pattern of past bull cycles holds any weight. Bitcoin Might Reach A New ATH In This Cycle As per a CryptoQuant post, it’s possible that Bitcoin hasn’t yet reached the cycle top, and that a new all time high (ATH) might be achieved soon. There are two ways to define a cycle. The first is to make the initial point the BTC halving. Here is a chart that shows how the price of the coin moved in the 2012, 2016, and 2020 bull cycles based on this criterion: Price vs the number of days after halving in....
Why this bitcoin price bull run could be the market cycle that takes us from gradually to suddenly reaching hyperbitcoinization.
Crypto assets like Bitcoin and Ethereum have taken a beating since April local highs, calling into question if the once powerful bull market is over or not. If it isn’t, a fractal discovered from the past market cycle forming this time around, could provide a roadmap for the last leg up of the current bull […]
If this bull cycle is like 2017 or even 2019, then the majority of investor "FOMO" and associated price gains lie ahead. Bitcoin (BTC) bears thinking that $58,000 was this cycle's top will be sorely disappointed, fresh investment data from past bull markets shows.Compiled by on-chain analytics resource Whalemap, statistics covering BTC buys of between $5 million and $7 million conclude that even at recent all-time highs, Bitcoin was far from a "macro top.""No FOMO in sight" for BTCDuring the 2017 and shorter 2019 bull market, Bitcoin saw mass buy-ins of a similar size — $5-7 million. When....