TL; DR
Full story
You know that scene from S3E4 of It’s always sunny in Philadelphia?
The one where Frank pushes one of the McPoyle brothers off a roof?
…but then the camera zooms out to reveal that it was less than one story, and we (as viewers) discover that McPoyle was never in it Real Danger.
Yes, there is a lesson to be learned here:
When in doubt, zoom out.
The crypto markets feel like they’re in a tough spot right now (and they may well be), but before we hit the panic button – which we’ll do in the next article – let’s create some context by first to zoom out.
Like it, out out. Back to previous bull runs.
What you will notice is that after hitting new all-time highs, Bitcoin tends to consolidate within a certain range and ping-pong sideways for 4 to 5 months before moving back up.
Bitcoin hit its last all-time high of ~$73,000 on March 13, 2024 – meaning July 13 marks (roughly) a potential start for the crypto market’s next surge.
Is it a perfect predictor? No. It’s as hand wavy as it gets!
The point of all this is not to predict the bottom of this short-term downward trend.
Instead, it is a process designed to keep your emotions in check.
Because it feels like the crypto market is currently hanging on by a thread, on a 100-story skyscraper…
But for now, it’s still within the parameters of previous bull cycle behavior.
