Bitcoin Bear Market Cycle
To many, it's just a dip, to some liquidation cries, confusion, and fear grip a lot, what's really happening in the market? why am I getting margin calls? I thought this was a great project.
Well, here's what we think.
Chart Keys
Where Are We and What's Happening?
After peaking at $69,000 we entered into the "Markdown Phase" and the market is currently finding a fair valuation for the magic internet money.
At the moment we are about 200days from the last halving top which was in Nov 2021, the market will likely continue to range within the descending channel making lower lows and lower highs until we bottom out likely in Oct/Nov 2022 if history tends to repeat itself.
The current cost of mining 1 BTC range from $19,000 - $21,000, hence there's a high probability of seeing price flirt with these lows.
What Happens Next?
After the market finds a fair value for Bitcoin we should enter into the "Accumulation Phase" which could likely last for 1.5year anticipating the next Halving in 2024, during these phases we could likely see bitcoin range between peak lows and mid-highs which could be around $20,000 - $35,000. These are the best time to accumulate Bitcoin and prepare for the next Halving.
What Do You Advice To Do Now?
At the moment "Cash-is-King" I advise stay on the standstill with your bags of USD and watch how the market plays out, nearly all price prediction models were broken which means Bitcoin is kinda like the prodigal son of the financial market however the halving cycle effects is still intact, my chart says we bottom out in October, I'd say wait at least till then to see what happens and thereafter during the accumulation phase start to DCA- dollar cost average, buy as much Bitcoin as possible on a weekly or monthly basis of course not so much that it would affect your standard of living but enough to set you good and ready for the next bullish cycle.
What About Altcoins?
Well, I'll be staying off the alts in times like this, usually after Bitcoin bottoms out the alts keeps dumping until the value is at a bare minimum, perhaps this time might be different but I wouldn't be betting on that, next year 2023 would likely be a full-blown bear market and there will be enough time to accumulate as much alts as you would want, still alts only start to move after a signal for a new bullish cycle is established on bitcoin.
In summary, just focus more on stacking the magic internet money until the next halving.
Any More To Say?
Yeah, spend the bear market phase, in understanding the purpose of Bitcoin/Crypto/NFT, during a bull market we often get carried away by the hypes and the fast money game. In a bear market, there's literally less of hypes and more value and building. These are the best times to find value-based projects, understand the market, and spot opportunities.
Bear Market Are Okay - Use it Wisely
Disclaimer: This chart analysis is purely done with price action, personal observation/ thoughts, and halving cycles, it does not take into consideration any fundamentals and should only be used for educational/entertainment purposes not to be construed as a form of financial advice.
Well, here's what we think.
Chart Keys
- Orange Horizontal Line|~Prox Halving Dates
Yellow Bars - Range From Halving to ATH
Pink Bars - Range From ATH to Bottom
Green Channel - Period of Accumulation
Where Are We and What's Happening?
After peaking at $69,000 we entered into the "Markdown Phase" and the market is currently finding a fair valuation for the magic internet money.
At the moment we are about 200days from the last halving top which was in Nov 2021, the market will likely continue to range within the descending channel making lower lows and lower highs until we bottom out likely in Oct/Nov 2022 if history tends to repeat itself.
The current cost of mining 1 BTC range from $19,000 - $21,000, hence there's a high probability of seeing price flirt with these lows.
What Happens Next?
After the market finds a fair value for Bitcoin we should enter into the "Accumulation Phase" which could likely last for 1.5year anticipating the next Halving in 2024, during these phases we could likely see bitcoin range between peak lows and mid-highs which could be around $20,000 - $35,000. These are the best time to accumulate Bitcoin and prepare for the next Halving.
What Do You Advice To Do Now?
At the moment "Cash-is-King" I advise stay on the standstill with your bags of USD and watch how the market plays out, nearly all price prediction models were broken which means Bitcoin is kinda like the prodigal son of the financial market however the halving cycle effects is still intact, my chart says we bottom out in October, I'd say wait at least till then to see what happens and thereafter during the accumulation phase start to DCA- dollar cost average, buy as much Bitcoin as possible on a weekly or monthly basis of course not so much that it would affect your standard of living but enough to set you good and ready for the next bullish cycle.
What About Altcoins?
Well, I'll be staying off the alts in times like this, usually after Bitcoin bottoms out the alts keeps dumping until the value is at a bare minimum, perhaps this time might be different but I wouldn't be betting on that, next year 2023 would likely be a full-blown bear market and there will be enough time to accumulate as much alts as you would want, still alts only start to move after a signal for a new bullish cycle is established on bitcoin.
In summary, just focus more on stacking the magic internet money until the next halving.
Any More To Say?
Yeah, spend the bear market phase, in understanding the purpose of Bitcoin/Crypto/NFT, during a bull market we often get carried away by the hypes and the fast money game. In a bear market, there's literally less of hypes and more value and building. These are the best times to find value-based projects, understand the market, and spot opportunities.
Bear Market Are Okay - Use it Wisely
Disclaimer: This chart analysis is purely done with price action, personal observation/ thoughts, and halving cycles, it does not take into consideration any fundamentals and should only be used for educational/entertainment purposes not to be construed as a form of financial advice.
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