What Often Happens In A Bull Market
After holding support at 13K, Bitcoin has managed to climb back up to the 13.5K zone and is once again eyeing 14K! Something I noticed at the beginning of the last bear market was that in a bear market, even bullish chart formations can get negated and collapse. The same should be considered for bull markets, in that even bearish formations can be negated, as the new trend direction begins a cycle of domination.
News of further lockdowns around the world will ultimately invite further money printing and an economy void of any real intrinsic value. This is a term that is often used against Bitcoin, so it is is quite ironic that Bitcoin is slowly but surely becoming one of the few truly valuable assets left in the world. Many American stocks are at all time highs while they simultaneously file for bankruptcy. Zombie companies are ushering in an economic apocalypse and it appears that there is no real solution for this flawed economic system.
With each passing day it is becoming clearer to the man on the street that his purchasing power is shrinking and the obvious solution is Bitcoin. Bitcoiners, Institutions and the man on the street are all buying up BTC! It is simply a matter of time before this creates an unstoppable surge, just as economies are experiencing an unstoppable collapse. The fundamental aspects of each scenario have to surface at some point and that is exactly why hodlers will continue to hodl on!
The Rise Of Alts
I currently hold more alts than BTC and intend to shift most of these holdings into BTC at a later stage. I believe a magnificent alt season will end with a significant collapse. I think a lot will also survive but not that many will thrive and that is why I only hold alts for the medium-term. Ultimately I see BTC holding a tremendous amount of value into the future.
Projects such as ETH, Polkadot, ChainLink and BNB are in a league of their own and should continue on in strength. A lot of other projects are mere speculation and still need to prove themselves in the marketplace. This being said, it does not discount them from benefiting from the high tide that is about to lift all boats in the Crypto harbor.
These are merely my views and not investment advice.
