Since the genesis block was mined by Satoshi Nakamoto, Bitcoin has seen progressive growth and adoption from mainstream media, retail traders as well as institutional adoption. Many believe that bitcoin's value is attributed to how much adoption and acceptance it garners. However, Bitcoin like most assets does not appreciate spontaneously as this is non-pragmatic and unhealthy for long-term use. As volatile as the crypto market is, it is important to understand that the price of bitcoin will most likely be a function of what cycle it currently is. So the question is, where are we in the bitcoin cycle.
According to seasoned trader and crypto analyst, Dominic Ericsson, using the BraveNewcoin liquid index for Bitcoin and following the history of the halvings on Bitcoin, Bitcoin experienced a massive parabolic advance albeit it's first trading on July 12, 2010. This was preceded by a 93% drop in the price of bitcoin over 161 days. So for all the newbies, when bitcoin rallies high, it always pulls back. on November 12, 2012, the first halving occurred which resulted in a double pump but not after a respective 81% and 86% respective double bottoms and pullbacks within one halving. This was followed by another massive pump and a subsequent 413 days of a bear market when everyone thought bitcoin was dead and done after an 86% pullback. And then a massive pump happened during the bull run. So technically, there's almost always one year of a bear market after the cyclical top of every cycle. They are almost always guaranteed. So the question that remains on everyone's mind at this point is, are we already in a bear market, or is this price consolidation; hence the need to know where we are right now in the cycle. Following the massive sell-off in may, we have to go back to historic price levels to determine the degree of price retracement that the market has seen. So far we have only experienced a 53% pullback in price, which means that for everyone who is still bullish, we need a further 30% pullback before bitcoin can be positioned for another move up. As a newbie, It is important to follow signals and strategies from veteran traders who have been around through the different timelines and cycles of bitcoin. one such person I found to be meticulous in his analysis on the market, as well as his signal trading strategy and trade setup, is veteran trader Ann Bargy. Going into 2021, every trader on Youtube and telegram was so bullish that they ignored the bearish patterns painted all over the chart. Only a few traders gave out signals about an impending sell-off and AnnBargy was one of them. it is very important to look out for signs and signals if you have not been through a bitcoin cycle and Ann can provide such analysis, signals, and trade set-ups. The future of bitcoin as uncertain as most people might think it is promising. Y'all in search of a profitable system can reach out to Mrs. Ann Bargy on tel gram (@AnnBargy) on how to trade profitably📈