Crypto assets such as Bitcoin and Ethereum It has been hit hard since the local high in April, and it was once doubtful whether the once strong bull market is over.
If not, then the fractals found in the past market cycles formed this time can provide a roadmap for the last step of the current bull market. If you continue to follow the trajectory and the fractal is accurate, then what will this look like.
Prosperity and depression: Bitcoin, market cycles, halving, etc.
All markets are cyclical, and cryptocurrencies are no exception, albeit moving at a faster rate.This always online The encrypted aspect also has emotional stages that alternate more quickly.
For example, gold requires nearly ten years of accumulation before breaking into a new bull market, while Bitcoin tends to cycle every four years, which coincides with Its block reward is halved.
The older the leading cryptocurrency by market value, the market cycle seems to be extending. But for altcoins, they are developing equally fast, or even faster.
This may be why Bitcoin turned bearish, while altcoins Still super hotRegardless of the reasoning, altcoins are rising here or Bitcoin is bottoming, and the total market capitalization chart indicates that another rise is coming.
Fractal Found: What is the last stop of encryption?
Compared to the previous market cycle, the fractal found on the total market value of cryptocurrencies closely simulates a faster and steeper parabolic rise.
Although the recent crash has made the market sentiment sharply bearish and wondering if the top has appeared and if there is still a leg up and matching the fractal, it will be more painful to get out of the crash now than any crash.
Is Bitcoin following a similar fractal to 2017? | Source: CRYPTOCAP-TOTAL on TradingView.com
The fractal shows that all assets will soar to 9 to 10 trillion US dollars.
The largest share will still be attributed to Bitcoin and Ethereum, but this figure suggests that the rest of the crypto market may soon explode in value.
Related Reading | Five signs at the bottom of Bitcoin
Even more shocking is that the total encrypted market capitalization figure can hardly represent all the values in today’s encryption field. NFT is not included, new DeFi projects have not been added yet, who knows what else is hidden in the shadow of encryption.
In the next year or so, the target value is about 10 trillion U.S. dollars. It is hard to deny that the asset class at that time was overvalued. It may bring about a sharp correction and Bear market.
Featured image from iStockPhotos, Charts from TradingView.com