This Bitcoin bull market differs from past bull markets in the following ways.
- 2021 market now has 3 Bitcoin future’s ETF’s
- 2021 market has major institutional adoption
- Future’s market coming in to Bitcoin in September has interrupted the efficiency of this bull market.
This dump on Saturday morning dropped just below $42K. It breached the support at $52K. Now $50K is resistance:
During the 2017 bull market there were 6 dumps from 29% to 38%. This dump going back to 11/10 at the ATH of $69K, was 40%. What’s the difference?:
Will Bitcoin recover? That is the question. Is this a trend reversal? We don’t think so. Bitcoin surprises people! It is volatile, yes. However, demand at the nation state, institutional investor, hedge fund manager, city government, and pension fund level is at all time highs.
We can obviously see the double top similarity between this bull run and the 2013 bull market cycle. In this next chart we see in the green vertical dotted lines where Bitcoin dumped after reaching a higher high (new ATH). What happens after this dump in each cycle? Just because Saturday was a bloodbath, does that mean the bull market is finished? Bitcoin cycles rhyme. That is our thesis until it gets proven false. We are not married to any thesis. However, this thesis is not debunked yet. It could get debunked but not yet. Look at this next chart (predates Saturday’s dump), and see where this latest dip would be at the end of this chart. It will look insignificant in the grander scheme, right? Here is the chart from late last week:
Time preference has never been important in Bitcoin. It has to be a very low priority for investing in Bitcoin to work. This next chart really shows it well, in pictures:
As the Crypto.com commercial states all over major networks right now, “history favors the brave”! To make a Bitcoin investment work one CANNOT panic sell. One CANNOT have weak conviction. HODL means hold on for dear life. This was coined a long time ago in Bitcoin. We are'nt sure who started it. Point is, it is a must. It is an attitude and a life style. We still believe Bitcoin will recover as it has in the past. When, we don’t know. Impossible to know that. It would appear this bull market will be lengthened out, compared to all past bull markets. Another rhyme in these bull markets is that each one takes longer than the predecessor. It appears extremely likely now, that this bull market top will be in 2022. It just keeps pushing out. Perhaps it will only be in the $100k to $135K range. We don’t know that either. We are basically in a holding pattern waiting to see where Bitcoin will break next.
One thing is for sure. Bitcoin is not going anywhere, because there is no bottom to how low the value of the dollar can drop, click here to read
In this above CNBC article, a policy tightening will further deflate the economy in general, which is planned by the central banks who control all monetary systems globally. This great reset is about ushering in a new monetary system. It is not good for any of us who are not central bank elites! Battles to drop Bitcoin, raise interest rates, create more money out of thin air, worsen inflation are all an effort to maintain control over the monetary system. Nothing more! It is about control and it always has been! Bitcoin is and will always be decentralized. Holding on for dear life means not panic selling after these expected adverse events. Bitcon was $0.008 per coin in 2009. Be patient. The charts will tell us what is going on in due time.
Neutral ATM buys and sells Bitcoin as little as $20 at a time! You do NOT have to buy an entire Bitcoin. Neutral ATM is here to get everyone off of zero Bitcoin.