2022-06-22 13:11:05
There are no rules that the market cannot break.
In recent years, most crypto investors and analysts have been convinced that Bitcoin has never fallen below the highs of the previous bull cycle in history. Therefore, few people expected that the BTC rate would drop below $20,000 (2017 high).
Another popular myth is that Bitcoin moves in cycles. First, the rate rises, reaches new highs, and then falls for several years. One cycle lasts ~4 years.
The Bitcoin Cycle Theory is very popular because it has been confirmed 4 times since the advent of cryptocurrencies.
Therefore, traders and analysts say the same thing: a bear market has begun, you need to sell crypto to buy lower. And then calmly invest in cryptocurrencies in a year at a discount and wait for a new explosive growth.
Everyone around has become crypto experts. It is obvious to analysts that we should wait for lower levels or short BTC.
But do not forget that history does not predict the future. There are no rules that the market cannot break. If earlier there were four-year cycles in the crypto market, then this does not give any guarantee that they will continue. The market is constantly evolving and changing - this is important to consider.
A strategy based on various myths about the market is a very unreliable strategy because it is built on expectations based on history, not objective facts.
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