Good News: The Sky Isn’t Falling

TL;DR

• BTC reached its latest all-time high of ~$73k on Mar 13, which means (according to historical patterns) July 13 marks a potential beginning for crypto’s next leg up.

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 showing it was less than a one story drop, and we (as viewers) learn that McPoyle was never in any real danger.

Yeah, well there’s a lesson to be learned there:

When in doubt, zoom out.

The crypto markets feel like they’re in a tough spot right now (and they could well be), but before we go and hit the panic button — which we’ll do in the next article — let’s set some context, by first zooming out.

Like, out out. Back to previous bull runs.

What you’ll notice is that after hitting new all-time highs, Bitcoin has a tendency to consolidate within a range, and ping-pong sideways for 4-5 months, before moving up again.

Bitcoin reached its latest all-time high of ~$73k on March 13, 2024 — which means July 13 (roughly) marks a potential beginning for the crypto market’s next leg up.

Is it a perfect predictor? No. It’s hand wavey as all heck!

The point of all this isn’t to predict the bottom of this short-term down trend.

Instead, it’s a process designed to keep your emotions in check.

Cause it feels like the crypto market is currently hanging by a thread, from a 100 story skyscraper…

But, for now, it’s still within the parameters of previous bull cycle behavior.