Bitcoin generally follows a pattern in bull markets:Huge run up getting everyone excited and loading up bagsGoes up just a little bit more to get people leveraging and taking out loans (sentiment is now lambos and moons)Sudden and immediate dump wrecking leveraged longs (still higher then before the run up in step 1)Rebound upwards to wreck shorts (does not reach highs in step 1)Second and much larger dump to destroy remaining paper hands (still higher than step 1)Smart money i.e. greyscale, microstrategy and fat ass whales accumulate (sentiment has changed to doom/ptsd)Slow and sudden rise as OTC goes up and whales buy from weak hands on exchangesRepeat from step 1 (multiple times)Bubble pops and btc is dead (despite being much much higher than its previous all time high)
Submitted January 25, 2021 at 12:56PM
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