The Bitcoin price rose from 40k to over 60k in February, peaking at almost 74k in March. Since then, the price has failed to break out further, leading many to assume the bull market is over. This current price chart with a few simple markings dispels that notion completely.
To a chart showing price action since the end of the bear market in 2022, I added yellow lines around the bull market, and several blue lines around corrections.
It draws attention to the fact that the current retracement isn't anything new - it has happened several times during this bull run. (And if you go back to previous bull markets, the same retracements are there.)
Where we are now at 67k puts us right in the middle of the bull market price channel. Yes, we're down from 74k, but nothing ever goes straight up or straight down - there are always pauses and corrections along the way. If we take this long-term view, it's pretty clear there's nothing yet signaling the bull market is over. In fact, it could be ready to pop to 80k and beyond, now that some consolidation has occurred.
The crypto market is turning green:
As for BLURT...
Over the same time period, BLURT has gone sideways at best, recently falling to a new all-time low.
There's still hope though, as the crypto bull market looks like it will continue well into 2025, and the "alt coins" always do best in the second half of the bull market. To go to a new all-time high this cycle, BLURT would have to go up about x100 from here.
Could happen!
One thing that does seem clear to me is the bull market isn't over just because we're down from the 74k point. These consolidations happen all the time during bull markets. If anything, recent price action suggests we're headed toward 100k soon!
DRutter
The word is it could drop back down between 52k and 55k which would be great cause then I will buy more before it does shoot to 100k by the end of the year or maybe early 2025.
Yes there's room for the price to fall to 50k and still remain in the channel I marked on the chart in yellow. It's hard to understand why so many analysts think the 2025 came early and is already over.
I believe we are yet to enter the peak of bull run. Institutions and countries are still adopting cryptocurrency.
The last notcoin mining on telegram listing has opened another face for crypto that telegram isn't just a chatting app alone but a mining and p2p exchange.
In the last few weeks the inflow of. Users that register telegram and started crypto has skyrocket despite government ban. Everyone now is busy tapping their phones.
One of the reasons i haven't been constant posting here is that I have been hunting airdrop. It's paying more than my blogging.
Many cash out big dollar's in the just concluded notcoin listing.
What do you mean by tapping their phones? And hunting airdrop?
I don't have a cellular phone so I can't use Telegram.
Ok, you can just type notcoin on YouTube and watch a video on it. Notcoin payout over 1 billion dollars to everyone that participated on the mining. That has increased the number of new mining project on telegram and new people joining too.
Signals....
The collapse of the US dollar as a reserve currency.
Bubbles in every financial vehicle, from mortgages and financial markets, to precious metal price suppression.
The implosion of a several hundred trillion derivative market, worldwide.
Commodity prices going up (investment in real things)pretty much in everything relative to devaluing of currencies worldwide.
War.
It's...a...ponzi....
You can ignore reality, but you can't ignore the consequences of ignoring reality...
...and hopium is not a strategy.
Hope is not a good strategy, agreed.
Not entirely sure what else you were getting at there.
EDIT: In context, and going off your past comments, I'm going to guess you are implying "BTC might do okay, but even if it does, BLURT likely won't".
...the entire crytpo market is tiny - minuscule - compared to the things that decide the price action of a token (liquidity).
BTC will be screwed just like the others - but probably nearer the last.
Crypto as a concept 'has legs' - but not as it is now.
Now, it's just a liquidity sponge and/or an attempted psi-op, for the NWO/wef commies and/or intelligence agencies.
...blurt and all DPoS (POS), will be the first of the...15,000 ! tokens, to go...
Attached is a screenshot showing this piece of shit racist (add more expletives here) has me on his mute list.
Yet here I am replying to you on his post. I told you it can be done, you just have to enter through the other persons comment. 😆
He muted me when I showed him I had written on his being a racist before he came to Blurt.
Here is the article that earned me my spot hah hah.
https://blurt.blog/blurt/@practicalthought/when-assholes-insist-we-can-t-have-nice-things
I've got high hopes for Bitcoin by the end of this year. Maybe not to 100k but most certainly it will be around $85K.