I was looking at crypto twitter this evening and you have to love reading it even just for entertainment. Every time there is a dip there is so much negativity as the hope of creating wealth in their minds has now been destroyed. Funny enough when you start off in crypto you do believe some of these things that are being said and why you can be led a stray until you learn not to use this space for advice or guidance. Unfortunately many still do and why so many who failed in their first cycle will fail again in their second cycle.
The knowledge one picks up by being in crypto is the knowledge that counts and listening to the right people taking the important parts of this and combining it all together. No one really knows exactly what is going to happen next and this is all about a waiting game testing your patience to see what happens and then act accordingly.
The history of previous cycles guides us to some degree and we have to look at what took place before to build a picture of what we could expect. The market could act differently but this funny enough is mentioned in each cycle with many second guessing the time frames of when the peak might or might not happen.
We are about 14 months since the Bitcoin halving which took place on April 20th 2024. For those that have followed the previous crypto cycles we know that the peak of the cycle happens within a 12 - 18 month period after the halving. If this cycle is going to rhyme with previous cycles then we are looking more realistically at October for the peak. Rhyming is not an exact science, but it at least gives us an idea of roughly when even if it is out by a few weeks or months. Again if it happens which I hope it does then fantastic and it is not the end of the world if it is delayed, but it will happen whenever it happens.
When you are desperate you will agree with anyone that has an idea that fits in with your time frame and narrative in your mind and not surprisingly that will not always have a positive end result. Have some structure and think for yourself without relying on others as otherwise you will never learn to make your own decisions. Pay attention to those who you know have more knowledge and have some patience.
I saw some articles on crypto twitter saying we have already seen the top of this cycle and I am not sure if they are trolling or being serious. It is easy to troll crypto twitter due to how many people seem to be desperate for easy money.
Crypto is going to test you mentally if you allow it to as we all know there is going to be extreme volatility in the Bull cycle and dips are healthy. In the 2021 Bull cycle I can recall a hefty dip close to 50% and it took a good 6 months to achieve the ATH. No one knows the effect of the EFT's leaving less liquid on the exchanges which in theory should impact the price of BTC. The thing is no one knows what is going to happen next or what it might be or what the prices will do. All we know is the market tends to follow a pattern and that pattern is the crypto cycle. Will this change over time as crypto becomes more mature and the answer is probably yes as volatility should decrease.