Notable cryptocurrency observers claim that the Bitcoin market is still in disbelief at the current price rally. This, for them, is a sign that prices of crypto assets will head a lot higher during this market cycle.
Despite how agreeable such a narrative is to investors, others comment that there is a lot more optimism than pessimism surrounding the crypto market of late.
Is this the Beginning of Another Massive Crypto Bull Run?
According to several respected crypto asset analysts, “disbelief” characterises the current digital currency market. The descriptor comes from a popular image used frequently in the cryptocurrency industry.
The “Wall St. Cheat Sheet: Psychology of a Market Cycle” gets posted often by crypto industry observers on Twitter. Many observers and analysts use it to determine whether a market trend will continue or not.
The image, featured in the below tweets, shows the chart of a fairly typical bull and bear market cycle. The bullish side starts with “disbelief” (a feeling that price gains cannot last). It moves into “hope”, “optimism”, “belief”, and “thrill”, before topping at “euphoria” – during which every investor thinks they’re the next Wolf of Wall Street. Read More...