Yes, the euphoric phase may be a ways off still. In the past, bear markets turned into slightly bullish markets for a long period of time, there there was a short euphoric burst where the really big gains were made which was followed by a crash. Though, even if prices don't moon this quarter, just pulling bitcoin back up around $8,500 or higher and steem back up over $1.50-$2.00 would make many people feel like partying. ;)
Hmm I researched a few markets, and havent seen that happening. The bump to 50% that was for me the short bullish moment. I think if it goes up, it will slowly go up.
Hmm I think looking at patterns could be dangerous to predict the validity of bitcoin, and in general companies. It will all depend on if bitcoin will be become a mass adopted crypto currency.
Yes, the euphoric phase may be a ways off still. In the past, bear markets turned into slightly bullish markets for a long period of time, there there was a short euphoric burst where the really big gains were made which was followed by a crash. Though, even if prices don't moon this quarter, just pulling bitcoin back up around $8,500 or higher and steem back up over $1.50-$2.00 would make many people feel like partying. ;)
Hmm I researched a few markets, and havent seen that happening. The bump to 50% that was for me the short bullish moment. I think if it goes up, it will slowly go up.
Take a look at this:
https://weisscryptocurrencyratings.com/news/4-bitcoin-bull-markets-big-lessons-learn-1308
The 4 main bull markets in bitcoin.
All 4 patterns have some similarities. Especially about the slow grind higher and then a short euphoric burst followed by a steep correction.
Hmm I think looking at patterns could be dangerous to predict the validity of bitcoin, and in general companies. It will all depend on if bitcoin will be become a mass adopted crypto currency.
When there are no cash flows, dividends, or earnings and everything is driven on emotions and speculation, patterns likely play an even bigger role.