Everything in life and earth is governed by cycles. The cycles of nature like the sun, moon, and weather, extend into the financial markets which leave their hints in price action. When you’re doing research on Bitcoin or Bitcoin investment, oftentimes this crucial aspect is left out of the picture. Many people think Bitcoin is a sacred cow when it comes to cycles.
Though it’s true that Bitcoin is largely immune to many external factors, like politics and other financial markets, it’s still ruled by the same cycles that influence everything else. Dr. Charles Nenner’s unique cyclical models not only pinpoint cycles in technical price action, but explore the cycles of hype and sentiment within the market.
The ups and downs of Bitcoin sentiment
For anyone who’s been in the crypto space for a while, it’s clear that we’ve seen very large swings in sentiment regarding the flagship cryptocurrency and the markets at large. When Satoshi first wrote the white paper and Bitcoin started trading, the overwhelming consensus was that Bitcoin was interesting, but probably a scam. It seemed to teeter-totter between being a scam and something interesting or potentially worth investing in as explosive bull markets kept coming and going.
In March of 2020, Bitcoin plummeted to $3,000 and at the time, it was hard to believe it could ever recover. The narrative was that Bitcoin had finally exhausted its usefulness, and was subsequently a dead market.
However, in one year, Bitcoin multiplied nearly twenty times, breaking the $60,000 level by March 2021. In one year, BTC had gone from something that was apparently useless and no match for a freak pandemic, to the best performing asset in the history of the world.
The current state of Bitcoin sentiment
It almost appears as if Bitcoin will be impervious to FUD (fear, uncertainty, doubt) moving forward. The headlines are virtually filled with various institutions touting their approval for the world’s leading crypto, including Morgan Stanley, Goldman Sachs, Stanley Druckenmiller, and more. Influential billionaires like Mark Cuban and Elon Musk are not only big fans of Bitcoin, but even obscure coins like Dogecoin (DOGE). Cuban even accepts DOGE as payment for Dallas Mavericks tickets.
Megacorporations like Tesla, Meitu, and Michael Saylor’s Microstrategy are all kneedeep in Bitcoin. It seems almost absurd for anyone to be bearish on Bitcoin right now. However, sometimes the hype can act as noise when you’re doing your Bitcoin investment research.
Eventually, this hype will subside as Bitcoin stops becoming a novelty and starts becoming a standard feature of the global financial markets.
As one of the top Bitcoin market research companies, Dr. Charles Nenner’s firm’s proprietary cyclical models take into account not only the chart technicals, but the cycles in sentiment and fundamentals.
Visit Dr. Nenner’s Bitcoin analysis website for access to these unique models, and become an apex predator of Bitcoin trading with highly advanced trade timing.