Even if you don’t hear it, bitcoin (BTC) collapsed, a fall is a 25% drop in a sudden and brutal movement.
This is the chart I’m interested in right now. This shows that bitcoin crashed in early March and early April, although it has recovered both times, the chart looks like this:
For believers, it’s still a short break on the $1 million path consistent with bitcoin, but for others, it’s a transparent top point.
First of all, here’s a revelation from me. I love cryptocurrencies. I own Bitcoin and Ethereum, small but vital positions for some people. I have a lot of cryptographic tokens of all kinds and I will be and will be to get out of any crypto that you can locate on the list. is currently, I am on the sidelines because I think BTC has reached/is at its peak and we are in a bearish era before the next bullish race around the next halving.
Now, here’s the chart for any less than one hundred percent of a hodler:
It’s the boom/bubble. Clearly, Bitcoin and Ethereum have separated.
Unpacking this a little bit is what we consider in this table:
For what? Because that’s where we are today:
If you even have a technical research bone in your body, the alarm will sound, especially since for the initial bitcoin, the style of 2017 has been repeated.
You can upload this chart:
These two steps, even vertical ones, have been a very useful indicator of the summit for me, but you deserve to take voodoo mapping with a pinch of salt.
For me, there is a sense that cryptocurrencies have moved from a constant bull market place to an inconsistent market location where you can see through the foam the underlying trend.
DeFi (decentralized finance), where I played after leaving Ethereum and Bitcoin for others, went from a 10x game to a volatile percentage game and the NFT (non-expendable tokens) saw their week in the sun and experienced their first boom, bubble and bust cycle that time.
My position, which cryptocurrencies, DeFi, NFT and all other categories provide or unborn are for a generational bull, has not changed, but if bitcoin has noticed its peak, then everything you will suffer from the component of the cryptography cycle you have experienced more than once before. .
If bitcoin bursts again, the sky is again the limit and, if that’s the case, I guess I’ll play in DeFi where the increase would be again and not the percentages. Look.
By thanking Mark Twain, I hope the long term will do more than rhyme.
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Clem Chambers is the CEO of the ADVFN. com personal investors’ online page and 101 tactics for deciding on the winners of the inventory market and industry cryptocurrencies: a beginner’s guide.
Chambers won the Journalist of the Year award in business market commentary at the UK State Street Institutional Press Awards in 2018.
I’m the CEO of ADVFN’s investment and equity site. In addition to managing the leading money market in Europe and South America, I am a prolific monetary writer.