TL; DR
Full story
You know that scene from S3E4 of It’s always sunny in Philadelphia?
The one where Frank pushes one of the McPoyle brothers off a roof?
…but then the camera zooms out to reveal that it was less than one story, and we (as viewers) discover that McPoyle was never in a story Real Danger.
Yes, there is a lesson to be learned here:
When in doubt, zoom out.
The crypto markets feel like they’re in a tough spot right now (and they may well be), but before we hit the panic button – which we’ll do in the next article – let’s create some context by first to zoom out.
Like it, out out. Back to previous bull runs.
What you will notice is that after hitting new all-time highs, Bitcoin tends to consolidate within a certain range and ping-pong sideways for 4 to 5 months before moving back up.
Bitcoin hit its last all-time high of ~$73,000 on March 13, 2024 – meaning July 13 marks (roughly) a potential start for the crypto market’s next surge.
Is it a perfect predictor? No. It’s as hand wavy as it gets!
The point of all this is not to predict the bottom of this short-term downward trend.
Instead, it is a process designed to keep your emotions in check.
Because it feels like the crypto market is currently hanging on by a thread, on a 100-story skyscraper…
But for now, it’s still within the parameters of previous bull cycle behavior.