π New ATH, What now?
π Hello finance enthusiasts and savvy investors!
Last week I asked whether we would see the new ATH in March and shared my very bullish opinion. And 4 days later we saw the new ATH. And right now we have reached a new ATH of $70,000!
But what now? Is that it? Are we in for a correction and what can we learn from the past?
Let's take a look at how the Bitcoin price has behaved in the past after reaching a new ATH:
What do we see? We see that two out of three times it was not a direct breakout, but the price took a while to break through the ATH sustainably.
We also see that a 20-30% correction can be quite normal. We also have this along the price rise to the next local top.
I also find the next chart interesting. It shows the time between Bitcoin Halving and the new ATH.
We can see that we have seen a new ATH for the first time BEFORE the halving. This shows us on the one hand that we are currently very bullish, but also that we have to be careful in this run.
Of course, we cannot base our entire investment thesis on the past and a few charts, but it shows us that this bull run could be different, possibly even more intense but shorter than before.
What is my opinion now?
It remains to be seen whether we will see a small correction, but I am definitely bullish for the next few weeks! We have just activated price discovery mode, we are seeing prices that have never been seen before! What could be more interesting?
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Thatβs it for today, enjoy your weekend and your profits!
Cheers,
Stefan
Co-Founder of CryptoExplorer & InvestmentExplorer (coming soon)