These last few days ive been seeing a lot of crypto-analysts talk of upward movement in the market.
I wouldnt call myself some that is well versed in Elliot waves or Fibonacci but i do hold that the market moves in cycles that can be anticipated to a degree in the log run.
I dont believe you can pin-point the exact moment of the shift to a high degree of success, but a general guess as to when it "might" happen, i think is possible.
What i like about the news these last few days is the "feeling" that things might shift. As much as im not someone that will bash something that i dont understand to the highest degree, i still think that when we are talking about long term upward movement happening, "general sentiment" is king here.
All these analysis might be self-fulfilling prophecies (i dont believe they are) since they could very well be acting as the trigger needed to turn the market around.
For those reasons there are only a small number of folks whose analysis i take at least somewhat seriously on STEEM. Most of them are using @timm. (https://mentormarket.io/)
Guys like Haejin give market analysts a bad name so many folks i know avoid them, but i can say that there are some great insight to be found on TIMM.
Just a short disclaimer: Not everything is straight forward and some folks do make some generic price predictions, but once they think they are on to something you can tell right away.
Let me know what you think. Is there merit in all this talk?
Ill see you around.
Posted from my blog with SteemPress : https://scrips.io/blog/lordbutterfly/could-there-be-merit-in-the-recent-bull-market-expectations/
Good stuff. Thanks Butterfly!
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np. ;)
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Please can you explain what a bull market is in simple terms?
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A period when prices for most part are rising and are expected to rise.
Thats the best i got. hehe. :D
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So what's the difference between it and bear market?
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A bear market is the opposite. generally falling prices.
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So if you're selling, you need a bull market right?
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Yeah. Sell high buy low. :)
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Elliot Waves, right :). We are doomed.
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Everyone loves Elliot waves in a bull market. :D
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It’s a trap.
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haha. lol
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Earlier today I wrote a 2012-2014 with 2018-2022 comparison post, based on my research. I'm not a prediction guy, but I like facts and comparison. And the fact that 2014 is pretty similar to 2018 got my attention. If we're to follow the 2012 - 2014 growth and patterns, the next big peak in BTC's price will be around 300000$ in 2022. I will be quite funny & life changing if it happens this way.
Here is the full comparison article, if you're interested.
Cheers!
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Thats a very optimistic view of things.
The thing is that there must be a ceiling somewhere. 300k is a 100 times increase in MC. That puts BTC at 7 trillion USD surpassing the market cap of GOLD.
Consider the market cap of the crypto market at that time.
As much as i believe in crypto and would love BTC to moon seeing it in 3 year time at 20k USD and having STEEM at 10 USD would make me more then happy.
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You're absolutely right, 7 trl in MC for crypto is much, but who knows what the adoption of blockchain will bring us. And yes, STEEM at 10$ would be great.
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Thank you so much for participating in the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!
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Hi @lordbutterfly!
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