Investing Haven is a great site that provides market news and analysis. This article was posted by them around a week ago but I thought I would bring it back up due to the very positive price action that we have been seeing in crypto over the past couple days.
Their site: https://investinghaven.com/
Investing Haven use the top 8 cryptocurrencies to form a "crypto index" that creates a better view of where the crypto-market is going. They take the top 8 because many Altcoins are incredibly volatile and have short life spans with no real value. Taking the top 8 crypto's gives a steady view of the markets past as well as its potential future.
As we can see from the chart that the market has been moving up steadily within its range over the past year, while only falling out of said range at the start of the year and just recently.
Once prices fall below the rising channel it is time to zoom out, and identify what is happening on a larger timeframe.
THIS JUST CONFIRMS MY OVER-TOLD, OVER-SOLD HYPOTHESIS
I have kept saying on this blog that this market is a long term game. Many people see short term profits, I see long term wealth generation. We are getting in on the ground floor of a life changing technology. As long as you invest in coins/ tokens that will have real world value in a couple years (like ETH, Stellar, NEO etc) then you'll come off much better off than you began. All it requires is patience and a stern face when times get tough.
I predict another 10x year for the market as a whole (at its peak), hold me to it, and quote me in 365 days.
Have a great day and HODL!