Hello!
I follow the account "therationalroot" in twitter, he is posting a lot of interesting information about Bitcoin.
The chart below shows how are we performing compared to other cycles bottom.
It's an interesting exercice to see how much potential there is for this cycle.
See here:
It took 2 years approximately for the recovery phase. We still have till the end of the year to end this stage. We overshot on the way up thanks to the ETF hype.
However now we are consolidating and we are suffering a bull market correction.
As you can see in the chart, we are almost at the same spot we were the last 2 cycles, so nothing to worry about.
I am confident that everything will go according to plan, there is still massive upward potential at the current prices. When in doubt, zoom out.
I encourage you to follow theretionalroot, there are some very good presentations from him, and also some interviews in youtube. He is a must follow account.
If you are interested in seeing more, he also have this newsletter in substack: https://www.bitcoinstrategyplatform.com/news/market-analysis-biggest-week-of-etf
The boring phase will end sooner than later. We bottomed at $53,000 this weekend, we are now above $55,000. The recuperation will be fast, don't make stupid moves now. Stay strong.
I hope you had a great day.
Stay safe out there!
Posted Using InLeo Alpha