Crypto has been going wild for the last year. From a $22,000 bitcoin to a new ATH and how sitting above $65,000 it's clear that the bull market is here and honest has been here for the last 6months to a year now.

Some feel we will be hitting all new highs yet again but these highs could end up just continuing to go up and up without any major hard correction as we have seen in the past.

The Cycle

Bitcoin like any mark goes through cycles. We just happen to be much more aware of it because bitcoin is both worldwide and trades 24/7.

As I've said many times in the past most people don't realize they are in the bull market until it's just about over. Guess what... It's just about over..

With BTC hitting ATH and becoming very volatile we can see there's a lot of profit taking happening right now when others continue to pile in on the FOMO (fear of missing out) this is a normal trend that happens and it can last up to 18 months but is often times much shorter than then spanning of around 3-6 months in most cases.

There's two bit key factors however that you need to take in at this moment. While this is the start of the ATH we haven't seen Ethereum hit ATH and we haven't seen the overall market cap of all crypto at ATH yet. This shows us there should still be good room for growth to happen over the next few months.

Understanding Risk Reward

When the markets bleed like they did with BTC hitting $16,000 and Ethereum hitting just a little over $1,000 that was prime time to get involved back into crypto as the "bleeding" was deep and had already taken place.

Moving up that scale you would have still been early however at this stage of the game it's clear that now the risk and reward is much narrower. While it could still be there we have seen bitcoin bouncing between $67,000 - $72,000 it becomes a lot harder and lucky if you end up hitting those gains.

While it's still projected that Ethereum could and should see $6,000+ this bull market you can see you're only looking at about a 50% gain now for a lot of potential risk at the moment.

The Human Facor

When you really dive into the human factor you start to see that math makes sense and that getting in low when everyone else is in fear and feels like it's doomed forever is exactly when you should be getting in. While the ATH trigger people to think oh boy I better get in before it's too late this now feels like a safe investment.

It's a flip flop which is why I often preach to do your best to keep emotions out of your trading. Maybe they will have a AI bot for this one day lol

This ushers in what is known as euphoria where people are scrambling to buy at the ATH on every asset and get in. This is often the trigger of when you should be selling and taking in those profits. I would say bitcoin hitting a ATH and people talking about how much injection of wealth is coming from these new ETFs would be one of those moments. However I still feel like the alts now have a lot of room for growth and as long as bitcoin remain s pretty steady like for for the next few months we should see a run on those altcoins ushering in what is known as the alt coin season.

What are you thoughts? Has the alt coin already hit us or is there a big move heading into summer 2024?

Posted Using InLeo Alpha