Crypto market is closing a successful year 2023. Many exciting news are waiting for us in 2024: the potential green light for Bitcoin ETF approvals and the eagerly anticipated 4th halving in April. These milestones are anticipated to catalyze a bullish surge in BTC prices. For long-term view on BTC, please refer to my analysis in the link below.
Markets, by nature, experience corrective phases. If we take a look into two previous cycles (2016 and 2020 with halving events), in monthly TF, BTC recovers aproximately 50% (Fib. 0.5) when the cycle' bear market ends. After that, a big correction of around 40%-50% also happens before the bullrun starts.
Will history repeat itself in the coming months as BTC sits at the Fib 0.5 level, equivalent to a 50% recovery post-bear market?
It's important to keep in mind that this analysis isn't a call to "sell" but a prudent reminder to resist FOMO and brace for potential corrections if they materialize.
Wishing you all the best for the upcoming year, 2024!
Comment:
We should not ignore the dips which happens several time before the real bullrun (starting after halving). Today's sell-off (BTC -8%, alcoins -20% is an exemple)
Comment:
BTC continues to decline. I hope that my new-year message was noticed. Be careful and prepare for more dips but actually they're good opportunities to accumulate your favorite cryptos:
