Though scary, these dips are par for the course during BTC bull markets
When bitcoin pulls back significantly, people love to run around screaming the sky is falling and bitcoin is going to zero.
Well maybe not zero, but much lower than whatever it is trading at currently.
However, I am here to tell you that these bull market dips are par for the course.
Meaning they happened in the past, and they will happen in the future.
The only thing that matters is whether or not it eventually goes on to make new highs eventually, and history says that it will...
This is pretty much the exact same type of thing we saw back in 2016-2017, during the last bull market.
Much ado about nothing?
These big dips aren't very fun if you are long but looking back at the last bull market, they shouldn't be unexpected.
Check this out:
Does that help provide some perspective?
For comparison's sake we are probably somewhere around mid to late 2016 as it relates to our most recent halving and currently bull market cycle.
The halving back in 2016 was in July while the most recent one was in May.
That means 2021 will be our version of 2017 based on the halving and subsequent price/market cycles.
Do you see what I see?
The big standout from that chart above is the number and depth of those pullbacks.
Everyone talks about bull markets and we think that the price only goes up during them.
Well, that very clearly is not the case.
The other thing that stands out to me is that the largest draw downs happened during the beginning of the halving market cycle.
Which is more or less where we are right now.
That means that the biggest dips in terms of percentage should be happening right now, just like they are.
So, while this deeps are painful, they are still nothing out of the ordinary with what happened during the last bull market.
For that reason, I'm a buyer of all dips at this stage of our market/price cycle.
Stay informed my friends.
Posted Using LeoFinance