'Return to normal' phase right now? Look at shape and volume
I now agree (albeit a bit late) Loops and Rivers&Mountains.
Bubble chart is a meme and so is log chart, but 2 memes make a right
https://techcrunch.com/2013/04/20/what-can-behavioral-finance-can-teach-us-about-bubbles/
People are psychologically anchored to high BTC values from the 20k run. BTC could easily go back and test where it came from (ie. low 4-digits to 3-digits). Sentiment seems to match the meme bubble chart. Many were and still are in denial in the past months that BTC will go to those so-called 'extreme' lows ("everyone will just buy at 5k/3k/1k", "I wish it goes that low, but it will never happen", "buy now for new bull season" etc.). Many are now calling for 20k, 30k, etc. again thinking this is the start of the new bull cycle.
The bull run has been going on non-stop for years now. If it has truly ended for now (which I think it has), we are heading to 'goblin town,' as an acoustic shorter called Turnip once said.
I now agree (albeit a bit late) Loops and Rivers&Mountains.
Bubble chart is a meme and so is log chart, but 2 memes make a right
https://techcrunch.com/2013/04/20/what-can-behavioral-finance-can-teach-us-about-bubbles/
People are psychologically anchored to high BTC values from the 20k run. BTC could easily go back and test where it came from (ie. low 4-digits to 3-digits). Sentiment seems to match the meme bubble chart. Many were and still are in denial in the past months that BTC will go to those so-called 'extreme' lows ("everyone will just buy at 5k/3k/1k", "I wish it goes that low, but it will never happen", "buy now for new bull season" etc.). Many are now calling for 20k, 30k, etc. again thinking this is the start of the new bull cycle.
The bull run has been going on non-stop for years now. If it has truly ended for now (which I think it has), we are heading to 'goblin town,' as an acoustic shorter called Turnip once said.
