Recently, BTC(Bitcoin) has been suffering the consolidation during last December and this January. So, I wondered what happened during December to January on the past cycles 🤔
As you know, BTC has shown the 4 year cycle pattern so far. Final years were like parabolic(banana) zones.
Take a look at the days before entering 2017 banana zone 🧐 BTC had a consolidation during that period. Alright. Let's check the next data.
During that period, BTC had shaked weak hands. It was the time before entering banana zone. Is it coincidental?
It looks not coincidental. BTC has been consolidating for the past few weeks. Some YouTubers have been inciting BTC will start a bearish market soon.
Most BTC on-chain data have not entered overrated zones yet. Furthermore, the U.S. government and institutions have been increasing their BTC holdings so far. I guess they are holding more than 10% of BTC circulating supply.
I think the crypto market will rebound within a few weeks and this February will be exciting for crypto investors. If you are weak hands, it might be better for you to go to a casino rather than remaining in the crypto market.
I believe that it will start it's positive trend as soon as Trump gets back to the office. Now, it is all in waiting to see if this will be a smooth transition...
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