BITCOIN: Still far from the "Euphoria-Greed" Stage
Having a look on the Glassnode Studio Charts , there is a nice chart which identifies each phase of the Market Cycle. Capitulation, Hope-Fear, Optimism-Anxiety, Belief-Denial and Euphoria-Greed.
It looks that BTC is currently entering in the first stages of the Belief-Denial phase in green.
As you can see during the previous BULL Cycles, this stage used to have a few peaks before reaching the Blue zone (Euphoria - Greed) which further evolves in the start of the huge correction.
I remember on early 2018 when everybody was talking about BITCOIN starting with the least Blockchain documented. I agree that we have some good "news" appearing on the newspapers and the TV news but I don't see the same intensity as it was on 2018. Looks like we are going to have an amazing and exiting bull market for a few months before it reaches the top but for sure it will evolves with a lot of volatility in both directions. By the way, the recent fall of BITCOIN reached -19%, a fall that would scare so many if we were not on a FULL BULL MARKET PHASE.
Enjoy!
Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
Posted Using LeoFinance Beta
