AskLeo - How Comfortable Are You With The Current Bull Market Volatility?
$30,000 to $37,000 seems to be the range where Bitcoin is trading hands since the big correction felt out of the sky upon us. It was unexpected for most of us, probably a healthy move for the bull market and definitely quite choppy.
Crypto gurus seem like being fine with it and are certain that the bull market shall continue over the next months into the end of the year and probably peaking sometime by the end of the year or in the next to come. I guess nobody knows that for sure.
S2F model predicts a over $100,000 BTC peak, and there are many other voices calling for such a peaking level. We touched $65,000 and we're now halfway down from there. It's fine, we're fine... Development moves forwards and there are high chances that smart money are accumulating at these levels.
We're actually $13,000 above the 2017 peak and history has proven so far that new cycle peaks usually make previous ones look like dots on a blank page. We're not yet in that position and although we might see a $200,000 BTC as a peak or even a higher level there's definitely gonna be a lot of volatility ahead.
Volatility is actually what makes these markets be that attractive for both investors and traders. So far I have handled it quite well and have no plan on exiting my positions. I was thinking though...
As much as we expect this bull market to be similar with the one from 2017, there are probably high chances it replicates the 2013 one. If my memory serves me correctly, the first half of that cycle looked pretty similar to what we're painted so far and we might actually be half way through the bull cycle.
A lot of weak hands have definitely been shaken out on the way up and I doubt many fresh investors will be able to ride the wave up and max their profits. We haven't experienced euphoria yet imo and chances are that some will not make it to that stage, being shaken out by the damn volatility.
I doubt we're entering a bear market, and if we really are doing that then this would be the lamest bull market in the history of crypto, but at least I already have the experience of a previous one, so I'm qualified for a future one. What about you, how are you handling volatility and how you're playing this volatility?
Thanks for attention,
Adrian
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I have said the same thing, if this is the end of the bull market then its certainly the lamest like you've said. But then it could be over, there's no permutation that could prove otherwise, nevertheless I feel this would linger for a while because a lot of weak hands are still selling.
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I agree. The consolidation period might take a while.
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