Bitcoin’s Historical Candle Patterns
When it comes to Bitcoin, there’s an interesting little pattern in the way its candles flicker about on the charts. Historically, every time a Bitcoin monthly candle closes above its predecessors, it often leads to a surge in its price. And guess what? This trend was reignited when Bitcoin’s September candle managed to close above the magical $13,000 mark for the first time since the distant days of 2017!
The Aftermath of Bitcoin Halving
Now, let’s dive into the nitty-gritty of Bitcoin’s halving cycles. Roughly every four years, Bitcoin takes a moment to rethink its life choices and slashes the rewards for miners by half—literally cutting the rate of new BTC production. According to patterns from past cycles, BTC typically peaks around 14 to 16 months post-halving. So, if we squint our eyes and look to mid-2021, we might just see history echoing itself.
Whale Watching: Big Players in the Game
Are you ready to rub elbows with some heavyweights? Right now, the buzz around Bitcoin is largely fueled by whales—those high-net-worth individuals who love to make a splash in the crypto pool. Unlike the chaotic frenzy of retail investors seen in 2017, the current Bitcoin demand seems to originate from the ‘smart money’, positioning itself quietly in the background, waiting for just the right moment to pounce.
Spot Market vs. 2017: A Comparison
Let’s play a little analysis game. Back in 2017, Bitcoin was like the popular kid in school, attracting a flood of retail interest particularly from places like the U.S., South Korea, and Japan. Everyone wanted a piece of that action as Bitcoin soared to $20,000. This time around? It seems there’s a bit more caution in the air. Sure, spot market volume is up, but mainstream interest hasn’t quite caught fire as it did back then. What’s up with that?
Can Mainstream Enthusiasm Be Rekindled?
Three years ago, Bitcoin was riding high on the waves of volatility, and that got the mainstream buzzing like a kid in a candy store. People were jumping on the Bitcoin bandwagon faster than you can say “blockchain.” Today, Bitcoin is on a smooth, almost parabolic journey upward—trending without major hiccups. This ongoing momentum, coupled with a stronger perception of BTC as savvy investment by companies and wealthy individuals, could rekindle interest from the general public.
A Trend to Watch
It doesn’t hurt that billionaires like Stan Druckenmiller are stepping up to the plate, recently announcing his investment in Bitcoin. According to traders like Michaël van de Poppe, this trend seems poised to continue. He suggested that as more big names allocate assets to Bitcoin, we could be on the cusp of significant bullish sentiment. And with Bitcoin recently hitting $15,000, it may very well be a prelude to something bigger come December. Are you ready to surf the Bitcoin waves?
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