The Bitcoin Cycle Mid-Top is Coming
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Bitcoin has made some wild volatile shifts since the last newsletter, with a brief swing below prices of $20,000, to now prices of over $28,000! It seems clear now that the drop below $20,000 was a news event as Silicon Valley Bank shut down it’s operations. This caused a massive escalation of fear as people projected the collapse of many other banking establishments and influencers across the crypto space started to prepare their audience for a black swan.
I remained calm and did not call for a black swan as others were doing, as the drop seemed to be based purely on news. Ironically, the day that people were calling for the black swan, Bitcoin immediately recovered all of its losses and went on to make new highs. The majority mentality sure is a wonder.
As Bitcoin now continues to make new yearly highs, it is time to start preparing for this cycle’s mid-top. You may be thinking, “But only 2019 had a mid-top, why would this cycle play out like the last?” Actually, every cycle so far has had a mid-top, but 2019 was the most pronounced due to it’s euphoric nature. I will now be looking out for this mid-top, as it is likely to come even if it is not as clear as 2019 and could present a profit taking opportunity for some people.
I will also be adding a completely new portion to the newsletter, altcoins. I will not cover any individual coin because I do not want to promote any particular project, but most people in the crypto community including myself, do hold some alt coins and it can provide additional insight into the crypto space as a whole.
This Newsletter Will Cover…
Bitcoin Market Psychology
Preparing for the Bitcoin Cycle Mid-Top (On-Chain Data)
The Action you should take (Dollar Cost Averaging Tool Update)
Altcoin Market