This is just my opinion and not financial advice, but I think we are far from the top of the market. I felt the same way when we were bottoming at 6k before #Bitcoin dropped to 3k.
The “Market Cycle” Chart
Take a look at the Bitcoin chart and let me know if it looks like the chart below? The top has been more rounded instead of a spike up an led then back down and up again.
Right now, or really a few weeks ago, outside of #doge, it feels like we are in the optimism or belief stage with a little euphoria sprinkled in.
No One has Mortgaged the House Yet
I have seen a few people say they’re quitting their job to go full time crypto, but I haven’t had that feeling yet and it has only been a handful of people.
No one has been interviewed on the news selling everything for Bitcoin and Ethereum. Crypto has not been constantly in the news cycle and I haven’t had any friends that know I’m in crypto ask what they should be buying.
Good News
This is great news because I believe Hive still has a long way to run to catch up in terms of Bitcoin price.
I’ll be interested to see if we can break all time highs again and see what that does for the price of Leo, Cub, and Splinterlands cards.
Hive still has a long way to run. $10 Hive would be awesome, but would just be happy if Hive hit and held above $1.
In Conclusion
Just like I posted in my last article you need to make sure to take profit regardless of where you think you are in the cycle especially if you’re starting to feel uncomfortable with the dip.
I do hope I’m right because I’ll be the first to admit that I have not taken enough profit if this is the top of the cycle, and if Bitcoin continues to break down I’ll definitely be taking more profits instead of riding the price all the way down. Good luck!