For the last 14 months, the crypto market has been getting decimated with little signs positivity. However, that vibe has recently changed, the question is, will it continue on its current uptrend or is this just a momentary bull trap that’s attempting to suck investors in?
What the market feels like right now is very similar to what it felt like back in 2015 when bitcoin was coming off its previous bear market.
Going back to November of 2013 bitcoin exploded up from a price of about $125 to reach a high of roughly $1150 in just six weeks. It was an unprecedented rise in wealth, and for many, the first time they ever heard about the digital currency.
As volatile as bitcoin is, it would not be able to hold this level for very long, soon after, bitcoin set in on a 14-month bear market falling all the way down to its low of about $190 a coin by January 2015. Here is where it would slowly start to creep its way back up, staying under the radar for months before the majority started to take notice again.
When comparing the November 2013 high and the 14-months bear market that followed, with the December 2017 high with the 14-month bear market that followed, we see a lot of similarities.
Where we are now feels like an exact repeat of what we saw back in 2015, where the market, for the first time, started showing positive signs again.
Looking to the past is one of my favorite ways to predict the future. The price action of where bitcoin is in April 2019 is likely to follow a similar path to where bitcoin was in March 2015. It’s going to be a slow steady climb over the next several months, however, the next big price explosion is going to be a much shorter time gap than the previous 2017 rally.
Being that bitcoin is the mother coin of crypto, this is going to have a huge effect on the rest of the altcoins, especially the ones I have previously deemed to be the top project through extensive fundamental analysis and research.
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BTCUSD Charts by Tradingview
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