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Today, let's talk about some of the patterns in the cryptocurrency market, and then we'll touch on some recent hot topics in the crypto space. I believe most of you are aware that the cryptocurrency market hasn't been doing particularly well over the past couple of years; using stock market terms, you could say that the crypto market has been in a bear market for these two years. After enduring a long bear market, one of the most popular narratives in the crypto space right now is that 2024 will be the year of a major cryptocurrency bull run. The reason is quite simple: there's a pattern in cryptocurrencies that sees significant bull markets every four years.
Cryptocurrency and blockchain have been the fastest-growing field in the past decade, especially the bull run in 2020, which laid a solid foundation for the future of blockchain. That's why suddenly many countries have started to see blockchain technology as an essential part of their future development. However, the four-year bull market pattern is something people have identified in hindsight. In reality, the development of cryptocurrencies has only been happening for a little over a decade, so using this four-year pattern as a sample for observation might not be valid for a decade-long perspective. It could just be that two consecutive times of luck led to similar results.
But how would those enthusiastic about trading cryptocurrencies know this? If we talk about the biggest downside of the expansion of cryptocurrencies, it's that people's understanding of cryptocurrencies hasn't kept pace with the evolution of the technology itself. Now, including professionals, there's no one who dares to claim that they truly understand the entire crypto space. So, in the end, people get caught up in trading cryptocurrencies without fully understanding them.
The previous bull markets in the crypto space in 2017 and 2020 made a lot of people rich. Most of the well-known crypto figures today emerged from the 2017 bull market. But behind the shining veneer of these crypto veterans, how many stories of failure and loss are there? Now, everyone is talking about 2024 being another bull market year, and many are starting to buy Bitcoin (BTC) and Ethereum (ETH) in bulk. However, can some people's funds withstand 2-3 years of idle time? When to buy, when to sell, and how to sell – these are all things that need to be carefully considered. So, just knowing about a four-year pattern doesn't guarantee that you'll make big profits.
2024 is just around the corner, and whether it's a bull or bear market, everything will be revealed. This discussion isn't about telling you what to buy; it's about hoping that if you've seen this four-year pattern in the crypto space, you'll take the time to think it through calmly. Don't just focus on the surface; otherwise, you might end up as the lamb waiting to be sheared. |
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Post time 24-9-2023 06:01:34
