The chart shows two market cycles, each consisting of 5 waves (1-2-3-4-5) of upward price action and 3 waves (A-B-C) of correction.
Comparing the current cycle to previous cycles:
Cycle Length: The current cycle (which started in 2016) appears to be longer than the previous one. This may be due to the increased maturity and adoption of the cryptocurrency market.
Volatility: Volatility in the current cycle appears to be greater than the previous cycle, especially in wave 3. This may be due to more institutional investor participation and larger capital inflows.
Correction Waves: Wave 2 in the current cycle appears to be more complex than wave 2 in the previous cycle. This may be due to the emergence of several macro factors affecting the market, such as the COVID-19 pandemic and monetary policies.
Predict the trend:
Wave 5 Completed: The altcoin market appears to be in the final stages of wave 5 in the current bullish cycle. This suggests that altcoins may soon reach their peak.
Major Corrective Wave: After the completion of wave 5, the market may enter into a corrective wave A-B-C. This corrective wave may be long and deep, similar to the corrective wave in the previous cycle.
New Opportunities: The corrective wave will create opportunities to buy altcoins at low prices for long-term investors.
Feel free to comment on the altcoin you hold and we will check it out for you!
