I've been thinking about the way this cycle is going and clearly it has not been as pretty as the 2017 bull. We know that big money and institutions are now in the space, and I can't help but think this cycle is just completely designed to mess with retail people.
For example, everyone and their grandmother expected Btc to hit 100k, but we didn't even get close. I thought conservatively we'd at least hit 80k, but again, not even close. Now that that's happened and we're on the way down, people are expecting to hit 24k, 21k, etc. I'm wondering if this will also never happen because it's the perfect system to make people not sell because they don't think it's the top, capitulate, then not buy because they don't think it's the bottom.
Not to mention we have a lot of other anomalies in this cycle like multiple Wyckoff patterns, no typical "blow off" top, having pull backs of over 50% while still in a bull trend, and now about to put in 7 red weekly candles in a row, pretty much all of which have never happened in Btc's history as far as I know. There's been an awful lot of "first times" in this cycle.
Not to mention stuff like China banning mining, and probably the most influential person in the world buying Btc, then flip flopping on holding/accepting it.
Anyway, just curious what you guys think. The more I look back at this cycle the more I notice the prevalence of things that have never happened in a Btc cycle before, and I can't help but think these are being done on purpose to shake out the little guy. Hodling strong, friends.
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