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Hello Everyone!
Sentiment in our space has now been fully decimated. Bitcoin continues to hover in the low 80ks while Altcoins make new lows.
By this time, just about everyone has at least considered the idea of an impending bear market. Many have also completely abandoned the idea of the 4-year cycle.
All except… CryptoCon.
Even with the cycles still looking perfectly in line, these times are the toughest to continue believing as everyone is hard convinced that the worst outcome is next.
Black swan predictions have been made, cycle top calls are rampant.
In one of my recent X posts, I made sure to highlight the sentiment we’ve seen over the course of this cycle:
When people start to approach me in droves on how to prepare for an incoming recession, it starts to sound the alarms for me.
We’ve seen this type of talk at 5 different local lows! Over and over again. The masses are truly bad at guessing what comes next for price.
It’s when everyone starts to feel that a recession and bear market is guaranteed, as they do now, that I become most confident that everything will be ok.
In the last newsletter, “The Long Game”, I introduced a scenario where it would take a bit longer to get through this correction than most people were ready for:
The 20-week EMA was looking like it would break to the downside and the December/January top was looking increasingly more important as a local high.
Something like the blue path now seems plausible.
But what most people want to know is, how do we know a bear market isn’t about to start?
This newsletter I’ll be going over a ton of unique data to get the whole picture.
Let’s jump into today’s newsletter!
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