Several strong signals of escaping the top of the bull market are as follows:
First, many people began to discuss dropping out of school and quitting their jobs to trade in cryptocurrencies. When this phenomenon is prevalent, it means that market sentiment has become overly enthusiastic, and people may lose rational judgment due to blind pursuit of high returns.
Second, some people believe that the existence of a perpetual bull market cannot be ruled out. This view often appears in periods of extreme market optimism. However, the market is volatile and there is no eternal bull market. This extreme optimism may indicate that the top is coming.
Third, major institutions have predicted that the price of BTC will be above $1 million. The views of institutions often have a greater impact on the market, but when many institutions give extremely optimistic forecasts, the market may have been overheated and risks are accumulating.
Fourth, there are voices everywhere that believe that the revolution is coming. This highly excited mood may mean that the market has entered a crazy stage, and it is necessary to be vigilant about the formation of the top at this time.
Signal of the bottom of the bear market:
First, the good news does not rise, and no one even cares. When the market has no reaction to good news, it means that investors are extremely pessimistic and the market may have reached the bottom area.
Second, there are quarrels and gossip everywhere. This shows that the attention of market participants has shifted from investment to other aspects, and the market's attention has decreased, which may be a signal that the bear market is about to bottom out.
Third, more and more people are withdrawing from the circle. When a large number of investors choose to exit the market, the selling pressure in the market gradually decreases, and the bottom may be forming.
Fourth, big Vs stop updating. Big Vs are usually more sensitive to the market. When they stop updating, it may mean that the market is extremely depressed and the bottom is not far away.
Fifth, no one is talking in the group chat. This reflects that investors' participation is extremely low and market sentiment is extremely pessimistic, which is one of the signals that the bear market has bottomed out.
Sixth, it is generally believed that blockchain is a scam. When this extremely pessimistic view prevails, it means that the market has fallen into a deep bear market, but it may also mean that the bottom is coming soon.
