Good day Hiveians!
Join me in analyzing the crypto markets!
There is a chance that the crypto market will once again bottom out at the end of this year
This is a pattern that we have observed over several cycles now:Bear markets tend to end at around the new year. You can see this in the chart here:
Curiously, the market tops also tend to happen around this time of the year. As we are now beginning to enter December we could see one final dump before the bear market actually finishes. As explained in this post 12k BTC is definitely a possibility and it would fit previous patterns in which price briefly dips under the red trend line seen above before recovering again.
Bear and Bull markets have had a very consistent track record
That is in terms of the time frame in which they play out.
Bear markets have lasted on average 395 days (if we take the last two ones) with the last one being shorter than the one in 2014. Currently we are also 365 days into the bear market. Does this mean we are about to finish this one?
Bull markets are even more consistent: they have both lasted almost exactly 1065 days! This is almost exactly 3 years. If we assume that the current bear market ends at the end of this year, the bull market would then last until the end of 2025:
While this pattern might be invalidated (as have so many other indicators so far for this cycle), it also makes sense to keep it in mind when trying to make sense of the market. The bottom line is that we could very well be on the verge of new higher highs (bull market) which is likely to last 3 years. This is a long time! Are you prepared to hold your crypto this long?
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
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Yes, just like the previous cycle, are you up for one more? And BTC is creating a bullish divergence on weekly chart. 😊
so no 12k?
I have no idea :p, I think we will see more blood, but my emotions might trick me..
Thanks. Another great post.
Hello my friend.
I think it is very very possible to see a further drop in the current market price, to see a BTC in the 12k of its price is becoming more and more likely, so we must be even more patient, I think that next year begins the market recovery, but it is very likely to see an accumulation market throughout the year until 2024, so the wait seems to be very long yet.
right, I based this idea on the chart which shows these 1 and 3 year patterns