PERSONAL NOTE: Didn't start this to pose as more knowledgeable than the rest, not to gain likes/followers or to sound intellectual. In this space there are a lot of smart people with more experience than I can fathom. And I’m full with gratitude for them since it’s how I LEARNED.
After June’s volatility and challenges, #Bitcoin prices started to consolidate near the last cycle level of $20,000, giving investors a chance to pause and watch.
According to #Bitcoin's history, the current accumulation pattern is only on the way out, not when it enters a bear market.
This time may be different, but accumulation suggests a bullish phase is coming.
In late June, with most altcoins down 80% or more from their November market caps, Bitcoin took center stage. Historically, declining interest in inorganic altcoins has been a positive sign for cryptocurrencies.
#BTC#ETH#BNB#LUNA#SOL#XRP#SHIB#LTC#bitcoin#Ethereum
As prices gradually fell on Sunday, while traders claimed they might have bought at the peak, they were short more in these small dips. Interestingly, this only applies to altcoins right now, showing that #Bitcoin is seen as a safe haven.