Describing this last hype cycle from 2013, after the old All Time High of 1000$+ price found a solid floor at 200$. After some months in those lands, it incremented to more than 400$, starting the first "Fear Of Missing Out" cycle, because the demand of people wanting to buy bitcoin was really noticeable at that point, so the price made a short term bubble.
Price reached stability at around 400$, then again the buying walls were too big in the exchanges and another FOMO cycle appeared, making the price to go higher than the 700$ point. After some correction, an updtrend started and reached the old All Time High really fast, so an ovbious correction have been formed and price followed the uptrend. The ETF rejection in the secondary market of the USA destroyed the faiths of some investors who were waiting for the approve of it, so we saw a big correction the 11th of march (the day of the SEC decision), and then the price followed the old uptrend again. Price went trough the old All Time High again and an insanely accelerated uptrend started, making the price to go 50% upwards in short time, reaching a floor of 1500$, where we are now. A correction is expected soon, so this is not a really good moment for a fast buy, but it is a good one to wait for a good point to enter the hype without too much risk!
Price reached stability at around 400$, then again the buying walls were too big in the exchanges and another FOMO cycle appeared, making the price to go higher than the 700$ point. After some correction, an updtrend started and reached the old All Time High really fast, so an ovbious correction have been formed and price followed the uptrend. The ETF rejection in the secondary market of the USA destroyed the faiths of some investors who were waiting for the approve of it, so we saw a big correction the 11th of march (the day of the SEC decision), and then the price followed the old uptrend again. Price went trough the old All Time High again and an insanely accelerated uptrend started, making the price to go 50% upwards in short time, reaching a floor of 1500$, where we are now. A correction is expected soon, so this is not a really good moment for a fast buy, but it is a good one to wait for a good point to enter the hype without too much risk!
Comment:
ATH acronym has been linked to the athenas stock due to an error, but it is refereed to the ATH of the bitcoin itself