Can't tell if $BTC is in correction or if bull run is over?
You're not the only one.
Many factors are affecting the market:
Mt. Gox, Germany, Elections, ETFs, FTX payouts.
I spent 100+ hours analyzing all data: here's when and why market will turn around
âź We are currently in a stage of depression, and most are leaving crypto
⧠People are selling, no longer believing in future growth
⧠But this happens every cycle, and if you look at the bigger picture, it's not all that bad:
âź Although altcoins are currently significantly underperforming compared to $BTC
⧠$BTC itself has already done a 2x since the ETF approval
⧠Now no one is buying because "$BTC is too expensive."
⧠And this is precisely the moment when the big growth begins.
âź Maybe locally, in the next month, we won't see any significant growth,
⧠Considering the amount of FUD due to the small inflow into the ETH ETF or the summer stagnation itself
⧠But buying during this dip will give you a big profit
âź When the market is as challenging as it is now, it's better to zoom out
⧠Currently, the altcoin index is approximately at the November 2023 levels
⧠Right after that, we saw a 5x growth
âź Therefore, try to stay focused on the positive factors that will drive growth, such as:
- ETF ETH S1 form approval
- Trump's crypto support
- Countries cutting rates
⧠There are even more factors, but people are more interested in spreading FUD than considering both sides.
âź I recommend that you take this position now and focus on the following:
- Learn some new skills
- Research new narratives/ideas, etc
- Search for undervalued alts
Accumulating the right positions now = 100x profit
Here is a list of factors to watch to catch the reversal:
âź $BTC Dominance
⧠The chart shows BTC's mc as a % of the total crypto mc
⧠Since April, BTC.D has formed a consolidation zone from 54% to 57%
⧠As soon as it breaks below this zone, the altseason will begin.
âź Trading Volume
⧠Trading volume is currently much lower than it was in 2021, even though Bitcoin's price is higher
⧠There's no retail involvement yet, so as soon as it starts to increase, the market will rise
âź Stablecoin Index
⧠This index indicates new capital entering the crypto market
⧠As we can see, we are far from reaching levels seen in previous cycles
⧠Once liquidity starts to increase, the market will grow accordingly.
âź Global Net Liquidity Index
⧠Another way to look at the current market stage is by monitoring the Global Net Liquidity Index
⧠This indicator gathers major central banks' assets and FED reserves
⧠For now, we can see that global liquidity is also in consolidation
âź Also, a good way to kill your doubts about the market is to follow the opinions of pro traders because when 10 of them say that we are in a bull market and growth is coming
The sentiment turns bullish
Here are a few such opinions:
âź GCR says that we're still in a bull market, echoing the summer of 2020
⧠For those who don't remember, after the summer 2020 dip, most alts went parabolic over the next 6 months
⧠And if history repeats itself, this might be the last chance to accumulate positions
âź Capo says that $BTC and $ETH still look strong, with the acceptance of the ETH ETF S-1 form, etc
⧠He simply can't be bearish here
⧠He continues to accumulate positions in altcoins
âź Conclusion
⧠Considering all factors and the overall picture, it's not all that bad, there are more bullish factors than bearish ones, and you need to take advantage of the current sentiment.
⧠So, while we are in a local dip, accumulate positions, learn new skills, develop yourself, and by the end of the cycle, you'll find yourself among the winners.