BTC Parabola Long
Normally I don't write about BTC because I do not understand it's behaviors as well as I do other coins, or assets. That being said I have been paying more and ore attention o BTC because it has been "breaking the rules" and causing some ALT's to pump and others to stagnate. Furthermore, this kind of rally should have caused every other coin in the market to spike with it considering BTC has risen 20x, and achieved a x3 from its previous ATH! Normally when things like that happen coins follow suit... however this is different, why?
To answer that we have to look at the previous Parabola's and especially the one in 2017 to get our answers. If we look at the weekly charts on the 2017 graph we are currently at the 2nd of 4 peaks that occurred that lead us to 20k.If that is the case, not only is this parabola not over, but BTC is at a discount now, even compared to what a retracement might be! This time in 2017 BTC was trading at around 3500, then nearly x6 to 20k. We are at 58k now and will likely balloon to 300 -400k when all is said and done. Then, just as now, there will be a retracement of some sort, but if we show similar behaviors then it will not be a major one on this leg, and we wont see 10 - 20k for a very long time.
The other reason I believe this to be the case is because the last Bull Rally lasted for 6 months after the first major spike in price, but prior to that was steady growth for about 3 months which is damn near the exact same timeline as what we are currently dealing with. If that is the case, a week of consolidation would make sense, a slight dip down during a "2nd to 3rd peak transition" would happen followed by 2 solid months of meteoric growth and likely the start of the Alt season. I think we are definitely only in the beginning of this phase and the rally to come will make all of us financially indecent if we are smart and savvy!
I'd say we have at least 6 more months of major growth ahead of us, but we will see an entry point before then! Don't blink though or you'll miss it!
To answer that we have to look at the previous Parabola's and especially the one in 2017 to get our answers. If we look at the weekly charts on the 2017 graph we are currently at the 2nd of 4 peaks that occurred that lead us to 20k.If that is the case, not only is this parabola not over, but BTC is at a discount now, even compared to what a retracement might be! This time in 2017 BTC was trading at around 3500, then nearly x6 to 20k. We are at 58k now and will likely balloon to 300 -400k when all is said and done. Then, just as now, there will be a retracement of some sort, but if we show similar behaviors then it will not be a major one on this leg, and we wont see 10 - 20k for a very long time.
The other reason I believe this to be the case is because the last Bull Rally lasted for 6 months after the first major spike in price, but prior to that was steady growth for about 3 months which is damn near the exact same timeline as what we are currently dealing with. If that is the case, a week of consolidation would make sense, a slight dip down during a "2nd to 3rd peak transition" would happen followed by 2 solid months of meteoric growth and likely the start of the Alt season. I think we are definitely only in the beginning of this phase and the rally to come will make all of us financially indecent if we are smart and savvy!
I'd say we have at least 6 more months of major growth ahead of us, but we will see an entry point before then! Don't blink though or you'll miss it!
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