The BTC bear market: 2017 vs now
I overlapped the BTC 2017 top and start of the correction with the current top on a log scale and the phases align really well with what is going on today. I do not want to spread fud, this is pure TA and it tells story as such...
Crypto Market sentiment
I just checked some market sentiment today and overall its very fearful and bearish which indicates we are in the fear phase right now. Sure, there are a bunch of Youtubers spreading hopium; which is nice but not very realistic. So for those real permabulls giving up we will have to capitalize. Given corrections move fast; this can already happen in the coming few weeks.
Crypto Market outlook
The long term outlook for the overall crypto market looks very bullish and I do not think we will enter a years long bear market. However a bear season we will see and there are still substantial corrections on the way. I project bearish sentiment spanning across spring and begin summer. When BTC has bottomed out in the summer we will see great entries and I project bullish continuation from September onwards. So crypto is not over and there will be great opportunities for those who are patient and control their emotions.
The end for Bitcoin?
After a decade of service; we need to really consider if Bitcoin still has a real use case beyond the current cycle. Sure, the economics line and infrastructure line up perfectly with a few innovations - however; the mining dominance and bad imagery around the coin together with increasing alternatives form a threat to Bitcoin's bullish existence. Not its existence as a currency / store of value by itself but rather its place our world as a use case. With a deflationary Ethereum and an influx of revolutionary innovations in the tech space as a whole in the coming decade; its hard to imagine Bitcoin being the store of value of choice.
The role of Ethereum
Ethereum is likely to swap seats with Bitcoin this year (as mentioned in previous analyses linked below) and when we will see this shift; we are ready for increased adoption and percentages in the crypto space and market as a whole. In my opinion, this would be good for the market and is something I personally look out for as the start of a new bull run but unfortunately, this time without Bitcoin as a key figure.
Hope for Bitcoin?
Sure there is still hope for Bitcoin as a store of value if mining dominancy and proof of work can be solved with innovations agreed upon by the network. The crucial support at 18K at the 0.236 will tell the story for Bitcoin. Below that level; we effectively have a dead coin - however; and impulse back above 30K means the return of the crypto legend.
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
Crypto Market sentiment
I just checked some market sentiment today and overall its very fearful and bearish which indicates we are in the fear phase right now. Sure, there are a bunch of Youtubers spreading hopium; which is nice but not very realistic. So for those real permabulls giving up we will have to capitalize. Given corrections move fast; this can already happen in the coming few weeks.
Crypto Market outlook
The long term outlook for the overall crypto market looks very bullish and I do not think we will enter a years long bear market. However a bear season we will see and there are still substantial corrections on the way. I project bearish sentiment spanning across spring and begin summer. When BTC has bottomed out in the summer we will see great entries and I project bullish continuation from September onwards. So crypto is not over and there will be great opportunities for those who are patient and control their emotions.
The end for Bitcoin?
After a decade of service; we need to really consider if Bitcoin still has a real use case beyond the current cycle. Sure, the economics line and infrastructure line up perfectly with a few innovations - however; the mining dominance and bad imagery around the coin together with increasing alternatives form a threat to Bitcoin's bullish existence. Not its existence as a currency / store of value by itself but rather its place our world as a use case. With a deflationary Ethereum and an influx of revolutionary innovations in the tech space as a whole in the coming decade; its hard to imagine Bitcoin being the store of value of choice.
The role of Ethereum
Ethereum is likely to swap seats with Bitcoin this year (as mentioned in previous analyses linked below) and when we will see this shift; we are ready for increased adoption and percentages in the crypto space and market as a whole. In my opinion, this would be good for the market and is something I personally look out for as the start of a new bull run but unfortunately, this time without Bitcoin as a key figure.
Hope for Bitcoin?
Sure there is still hope for Bitcoin as a store of value if mining dominancy and proof of work can be solved with innovations agreed upon by the network. The crucial support at 18K at the 0.236 will tell the story for Bitcoin. Below that level; we effectively have a dead coin - however; and impulse back above 30K means the return of the crypto legend.
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
Comment:
If you guys want me to look at certain coin pairs; just let me know in the comments - I'm happy to do a few for you...
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