Bitcoin's first ever weekly golden cross on the 50/200 week simple moving average.
The last time we witnessed such a phenomenon was prior to the DeFi summer. At that time, Chainlink hadn't experienced its significant surge, Ethereum's value was still in triple digits, and the Covid market dip was yet to occur. (This isn't to suggest another major unforeseen event is imminent; this is merely for context). Bitcoin's value hadn't crossed into five figures yet.
In the following year, we observed a meteoric rise in various altcoins. AVAX, FTM, LUNA, and SOL skyrocketed, alongside high-yield, high-risk projects like OHM and TIME. We also saw the emergence of later-stage cryptocurrencies such as MAGIC and BTRFLY, the Binance Smart Chain (BSC) season, and the popularity surge of tokens like Safemoon and SHIB, along with anime-themed coins, the metaverse, and gaming sectors.
Additionally, there was the massive NFT bubble, creating and erasing fortunes overnight, with assets like CryptoPunks, Moonbirds, BAYC, and various Solana NFTs gaining prominence. Other projects like JEWEL, RAIDERS, Altura, and Derace also saw significant growth.
Now, there appears to be another chance unfolding, leading into what might be the first crypto cycle driven by institutional involvement.
NFTs? Theyâre still viewed skeptically by many.
Cryptocurrencies? Generally, still dismissed by the majority.
Bitcoin? To many, it's still considered an unsubstantial asset.
Yet, there's a certain allure to this doubt and skepticism, as it presents a potentially life-changing opportunity.
So far, TAO has already outperformed something like Chainlink, with cryptocurrencies like OLAS yielding considerable returns for early adopters. Meanwhile, there's a buzz of activity in the background with various protocols and ecosystems gearing up for significant expansion.
Early adopters in Bitcoin-Related Cryptocurrencies (BRCs) and Ordinals have already seen substantial returns.
Those who invested at the low points in Solana NFTs are now reaping significant profits. It's a time where even the underdogs are triumphing, achieving goals they once thought impossible.
So, brace yourselves. Don't let the fear, uncertainty, and doubt sway you.
I'm convinced that now is the time to keep building your portfolio, expand your network, refine your strategies, and prepare for the impending surge.
It starts gradually, and then happens all at once.
