Important crypto money watchers Bitcoin The market still does not believe in the current price rally. This is a sign for them that the prices of crypto assets will be much higher during this market cycle.
No matter how acceptable such a narrative is to investors, others say there is much more optimism than the pessimism surrounding the late crypto market.
Is this the start of another big crypto bull run?
According to reputable crypto asset analysts, "distrust" characterizes the current digital money market. The identifier comes from a popular image that is frequently used in the cryptocurrency industry.
“Wall St. Cheat Sheet: The Psychology of a Market Cycle ”is frequently posted on Twitter by crypto industry watchers. Many observers and analysts use it to determine if a market trend will continue.
The image in the tweets below shows a graph of a fairly typical bull and bear market cycle. The bull side starts with "disbelief" (the feeling that price increases cannot continue). Before moving to "Euphoria", "hope" moves to "optimism", "belief" and "excitement" – while every investor thinks he is the next Wall Street Wolf.
The bearish trend below has a different set of identifiers. Proximity – the feeling that any decline is just a normal market correction – begins to decline. "Anxiety", "denial", "panic", "anger" and finally "depression" all come.
Can you believe that Altcoins has just started the bull market?
Most can not
– Rekt Capital @rektcapital Instagram photos and videos • Imgwonders February 12, 2020
– Crypto Michaël (@cryptoMichNL) February 12, 2020
If the above industry analysts are correct in their assessment of how far they are during the market cycle, crypto asset prices seem to be really prepared for big gains. However, many observers appear in something other than disbelief.
Calls for BTC from $ 100,000 Is the Market in "Insecurity"?
When more than one participant is commenting on the tweets above, if you believe the rhetoric I have adopted on Twitter, many investors are nothing but disbelief. One of these:
“I didn't see a single person saying that we're not in the bull market on Twitter. In fact, they are all in FOMO mode and they buy the best. "
Similarly, other analysts have drawn an increasing number of people about crypto investments in their personal lives. If the person without the crypto money trusts the market, is this really a sign of disbelief?
when your random acquaintances start texting you the #bitco
stay safe my friends! Remember DYOR and never invest more than you can afford to lose.
keep calm and stack of sats
– Meltem Demirors @Melt_Dem photos and videos on Instagram February 12, 2020
I am currently receiving random DMs and emails about buying altcoin and Bitcoin
The last time I earned this much DM, over $ 13,000 at the top
A typical indicator for me that it is nearing retreat after two months green
I secure earnings / profit
– Josh Rager 📈 @Josh_Rager photos on Instagram Account • Imgrab February 12, 2020
Panic Industries with Weekend BTC Drop
However, Bitcoin recently had a short withdrawal. Following the weekend, prices fell below $ 10,000 again.
Many observers welcomed the news with renewed calls for an annual low or even worse. Reputable industry analyst PlanB mentioned on the sudden bearish trend on Monday, saying they expect to see BTC at $ 100,000 in 2021.
*** Update: my 2 sat the #bitco price:
– 2020: btc stays above $ 8200 (so we don't fall to the $ 6k or 4k $ levels that others are currently guessing)
– May 2020 midway: will be over $ 10,000
– 2021: the bull run begins in half and gets 100 thousand dollars before December 2021#notfinancialadvi by https://t.co/zkkma4zbsd
– PlanB (@ 100trillionUSD) February 10, 2020
The reason why the downward trend is so fast after many of the price increases in Bitcoin is constantly increasing is that it supports analysts that the market is now in the "disbelief" stage of a typical cycle. In the later stages of a bull market, a short fall in prices is unlikely to reduce the investor spirit in this way.
Related Reading: CNBC Panel All Bull in Bitcoin; Crypto Dump Time?
Featured Image from Shutterstock.