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Today, the 799th day of Bitcoin Bull Market is marked.
This is a plus price action for about 26 months and a half months. More than 2 years. And toast!
It is difficult to accurately say when the blur market starts with a cipher. The definition of the old world based on 20 % retribution from local highs is not powerful here.
The drawdown of that size occurs too often on the way. Nevertheless, my very rough estimate was that the past three bitcoin blaze, which dates back to 2011, has been on average in the area of 1,000 days.
Therefore, it takes less than three years from Bitcoin to look back, from the bottom of the previous bare market to cycle peak, CRASH drop, to clear all upward trajectory.
Good News: Bitcoin makes this cycle very healthy when it is mapped to the previous three. Even after this correction.
Bitcoin’s performance in this bullish market, which began at the end of 2022, has been shown on the above -mentioned log view charts. So far, it is 6.6 times, from $ 15,474 to $ 99,000 this morning.
In most cycles, be aware of how the BTC tracks the brown lines that plots the performance during the previous bullscles from 2018 to 2022.
BTC branched about 50 days before December, about 50 days before December. But that’s okay: we know that bitcoin returns have already reduced all cycles.
The current orbit is suitable for patterns. All bullish market cycles follow the same trajectory and are not always noticeable.
Bad News: We are not approaching the altcoin season even after large rally with coins such as XRP and Trump.
This shows the growth of the market capitalization of the bullish market bitcoin (orange) and the altcoin market (purple). As you can see, Altcoins is suffering deeper losses, but is still 4.4 times.
The back blue pillar shows the relative performance with the bitcoin altcoin. Bitcoin is more than 210 % ahead of Altcoin, the maximum distance of the cycle. It’s too much in the real altcoin season.
Like a bull or bear market, there is no formal definition in the Altcoin season. It is more atmosphere.
Empire did his best to quantitize it. The altcoin season may begin when the market capitalization of the altcoin market in the bloomers so far exceeds Bitcoin’s growth.
In the Altcoin season, it is only confirmed when Altcoin has exceeded bitcoin for more than 90 days.
It sounds like a lot for 90 days, but backtests under these conditions provide three different Altcoin seasons through the history of Crypto.
The early innings of the Ethereum ICO era from the mid -2016 to early 2018, most Altcoins, when many Altcoins surpassed bitcoin, and most of the summer in the 2020s are the highest in Crypto in November 2021.
Perhaps the next Altcoin season will look quite different. For now, it’s still about all bitcoin.
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