It's funny to realize that cycles never repeat themselves as expected...even if we think that they " rhyme " in a certain way, the current bullish cycle is very strange.
For instance, we have never had such a shortage of BITCOINS offered in the exchanges...
Just for this reason, it should be enough to have a bullish feeling about it but, if you look at the volume of BITCOIN traded in the exchanges it is almost at historical lows, usually this happens at times when the market bottoms out.
(Source)
This leads me to think that the "retail" is not interested in entering yet. The trading volume seems simply generated by the famous ETFs, which are buying and selling without any criteria that can be clearly identified by us...
It is really difficult to make an accurate bet in the short term, understanding the short term as a time window of 3 months... in my opinion, we still have to finish the worst month of the year and, I think that from mid-October, we should see more clearly what ceiling we are going to with BITCOIN.
With ALTCOINS I think I have it clearer, there does not seem to be any "valid narrative" that can encourage their takeoff more than the typical historical rotation BTC-Major Altcoins-Small Altcoins although I also have to say that on the street it does not seem that crypto is talked about unless it is related to BTC.
In any case, I remain very bullish on BITCOIN, for me it would be very frustrating this time not to exceed 100K but, nobody has a crystal ball to predict what will happen.
What do you think?
Posted Using InLeo Alpha