crypto assets like bitcoin and ethereum Since the local high of April, it has raised questions about whether the once powerful bull market is over.
If not, a fractal discovered from previous market cycles around this time could provide a roadmap for the final phase of the current bull run. If the trajectory continues to follow and the fractal is accurate, what does it look like.
Boom and Bust: Bitcoin, the Market Cycle, the Halving, and More
All markets are cyclical and cryptocurrencies are no different, even if they are moving at a very fast pace. always on The sentiment phases also change very quickly in the crypto aspect.
For example, gold took almost a decade to accumulate before breaking out in a new bull run, while bitcoin coincides with a cycle every four years. Its Block Reward Halting.
The older the leading cryptocurrency by market cap, the longer the market cycle. But for altcoins, they are moving just as fast, if not faster.
This Is Why Bitcoin Has Been Bearish While Altcoins still super hot. Regardless of the logic, whether altcoins are rising or bitcoin is down here, the total market cap chart shows that another leg up is approaching.
Fractals found: what the final stage in crypto looks like
A fractal found on the total cryptocurrency market cap mimics a sharp and sharp parabolic climb compared to the previous market cycle.
Although the recent crash has turned sentiment into a bullish bearish move and wondering if the top is in, if another leg is up and it matches the fractal, the move now will be much more painful than any crash.
Is Bitcoin following a similar fractal to 2017? | Source: CRYPTOCAP-TOTAL on TradingView.com
Fractals suggest that all assets will increase by $9 to $10 trillion.
The lion’s share will still be due to Bitcoin and Ethereum, but this number indicates that the rest of the crypto market may soon explode in value.
Related Reading | Five Signs that Bitcoin is Down
What is even more shocking is that the figure for the total crypto market cap barely represents all the values in the crypto space today. There are no NFTs involved, new DeFi projects have not been fully added, and who knows what else is left out that lurks in the shadow of crypto.
With a target of around $10 trillion worth within the next year or so, it would be hard to deny that the asset class was overvalued at the time, and could lead to a significant improvement and Bear Market.
Featured image from iStockPhotos, Charts from TradingView.com