Characteristics of past bull markets:
BTC and ETH both broke through the historical highs of the previous bull market: this marked the official start of the bull market.
The daily K-line prices of Bitcoin and Ethereum deviated significantly from the 60-day moving average: the price deviation reached more than 30%, and the 60-day moving average continued to rise, which means that investors who entered the market in each time period have made profits.
The moving averages are dispersed: the 30-day, 60-day, 120-day, and 200-day moving averages are dispersed, indicating that chips have begun to be distributed in a dispersed manner, and the market has a significant money-making effect.
Frequent exchange activities: Project parties take advantage of the situation to issue new projects and seek to sell them at high prices.
Investor sentiment is high: WeChat moments and group chats are filled with stories of profits and sudden wealth, and investors are eager to get rich overnight.
The market value of Bitcoin has declined: Bitcoin’s market value has dropped to about 30%, the market value of altcoins has soared, and market risks have gradually accumulated.
High trading volume and turnover rate: The market is actively trading, and the trading volume and turnover rate are extremely high.
The Ethereum Foundation sells coins: The Ethereum Foundation begins to sell coins frequently, and its wallet assets gradually flow into exchanges.
Good news keeps coming: Good news keeps coming out of the market, and all kinds of attractive stories emerge one after another.
This round of atypical bull markets will no longer run according to the above script, but the only thing that remains unchanged is that only those who have a long-term view, do not pay attention to short-term corrections, focus on the bull market cycle and hold on to it will become winners. History shows that those who only pay attention to the mid-term rise and fall will eventually "pick up the sesame seeds and lose the watermelons."
