I find it quite amazing that some people crypto still believe we're in a bear market after all the pumps and strong rebound BTC has had since the $16k so-called "bottom"... Then again, I refused to believe we were in a bear market, back in 2022, when we were actually in one, thus I can't bash these people in any way. But now, after a year-long correction for Bitcoin...I might be wrong, but I'm taking the bet that we're out of the woods already and burning brushwood right now.
So, starting from the premise that 2023 is the first bullish year of another four-year cycle after the "2022 bear market" we can say that we should expect up only from now on, and so far 2023 has been all about respecting that. Typically, during bear markets, every relief rally that occurs in the downtrend is sold out pretty fast.
Now, all we see are slight corrections in price before the uptrend continues for the past three months or so which doesn't feel like a bear market anymore.
I know, it's just three months since the so-called $16,000 bottom for Bitcoin occurred, a level I frankly would have never seen BTC revisiting after the top of $69,000 in November 2021. But, you know what could be even more firey?
This chart illustrates the bullish 🚀theory that #BTC has been in a running correction since June '11. If correct, the terminus of #Bitcoin's correction occurred six weeks ago, and #BTC has begun another impulse move, which should be similar to the one from '09 to '11.
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What do you think of that? I personally consider it interesting, to say the least, and if this bull market shall replicate the 2009-2011 one then $500k BTC could be in cards. And it is possible but not certain. Many are looking for similarities between 2019 and 2023, while just a few are comparing this year's current performance of BTC with 2015 one. What if it does something different?
I mean, why does it always have to behave the same? I know, the fundamentals are the same, and psychology has never changed, but the need for Bitcoin might have changed over time and that could push it on a different moon map. I'd say we need Bitcoin and other decentralized networks such as Hive right now more than we need them 8-10 years ago.
If covid, Ukraine, and banks being set on fire like in Beirut, are not signals for the desperate need of humanity for blockchain technology and cryptocurrency(not CBDCs), then I don't know what will take us out of the dump hole we've drowned ourselves for a while.
When I hear about BRICS, CBDCs, carbon credits, digital IDs, and inflation I can only think of Bitcoin, Hive, DeFi, and countries such as El Salvador and how they can act as a hedge against all of these. The masses have not yet been cornered enough to protest in a way and to seek an alternative to the old system. They will probably never will, but if they do... Imagine the FOMO.
Will we see 100Xs on altcoins in this bull market? I'd say we will, although not on all of them, and just by looking at AGIX and other so-called A.I. crypto projects, we can have a glimpse of what's to come. A.I. tokens are "the new DOGE" showing the way, the way I see it. These ones and the metaverse projects(cuz no, the hype is not dead yet on metaverses) will perform in this bull market.
Chances are that Hive will do great too, as the need for decentralized social media platforms will increase. I don't want to turn into a permabull right now or to waste another bull market in terms of returns on my investments by saying that we will have a decade-long bull market without no major correction, but on the other hand, I recognize the sentiment some have right now towards the shy upward trend that's forming for a few months in crypto.
I can somehow even hear them saying: nope, that's not going to happen, this time is different cuz look at inflation, and the wars, and climate change, yadda yadda. No, it is not different, it never was, and whether the 2023-2025 bull market will replicate any of the past ones remains to be seen, but my gut feeling tells me it's going to be the most hated one, cuz many are going to be left behind.
Personally, I'm ready for the unthinkable and I have a plan, just in case my emotions will get wild and mess with my "potential wealth" waiting for me ahead...
I have a history of falling prey to emotions and it's something I want to cut ties with. So, get ready for "fun times ahead"! Don't get drunk(sell) too soon, but don't stay sober(holding bags) till dawn either cuz the party will for sure end as unexpectedly as it did back in 2021, 2017, and 2011...
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