Where is Bitcoin in the cycle? Make an unreliable guess!
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Qingmei Zhubi: Where is Bitcoin in the cycle? Make an unreliable guess!
Bitcoin market analysis
Since Bitcoin hit a high of 73777, the market has been consolidating for 106 days. After a sharp drop in the market the day before yesterday, the Greed Fear Index fell below 50 and returned to the fear period. What does this mean?
The 7-day moving average of the Fear and Greed Index fell below the upward trend, which shows that the adjustment level is relatively high and long.
The following will make some unreliable speculations about Bitcoin.
Assuming that Bitcoin has completed its first major wave since its birth until 2021, then the market conditions since the end of 2021 are adjustments to Bitcoin’s second major wave, that is, adjustments to the rising market conditions in the previous ten years.
Since Bitcoin hit a high of 73777, the market has been consolidating for 106 days. After a sharp drop in the market the day before yesterday, the Greed Fear Index fell below 50 and returned to the fear period. What does this mean?
The 7-day moving average of the Fear and Greed Index fell below the upward trend, which shows that the adjustment level is relatively high and long.
The following will make some unreliable speculations about Bitcoin.
Assuming that Bitcoin has completed its first major wave since its birth until 2021, then the market conditions since the end of 2021 are adjustments to Bitcoin’s second major wave, that is, adjustments to the rising market conditions in the previous ten years.
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