History may not repeat itself exactly, but it always shows striking similarities. Now is the time to analyze the past and my personal views on future trends.
First, let's review last year's situation: Starting from January 1st at the beginning of last year, the price of Bitcoin began to rise, which lasted until April. At that time, the market saw a Shanghai upgrade, and the market and altcoins reached their peak. Although Bitcoin reached $30,000 again in June, most altcoins did not follow to set new highs. Instead, they simply rebounded and continued to adjust sharply. Then the price of Bitcoin fell to around $25,000. After two months of consolidation, the market started a new trend, and altcoins followed Bitcoin to go out of a new round of trend-based rising market again.
This year's market performance has many similarities with last year. Since the trend market started in October last year, Bitcoin and altcoins peaked in March this year, and then began to adjust sharply. Around April 14, when Bitcoin was halved, the market may have ended the trend-based rising market and entered a substantial adjustment phase. Then around May 20, with the news of the Yitai ETF and the rebound of Bitcoin, although Bitcoin returned to the vicinity of the previous high, the altcoins only rebounded symbolically and continued to make large corrections and washouts.
So far, this year's market performance still has many similarities with last year. If we follow last year's trend, summer is likely to be the bottoming and bottoming stage of the market, and a new phase of rising market may start at the end of August or September. Therefore, everyone does not need to be overly anxious, the bull market still exists. After a half-year-long washout from April to October last year, the market started a wave of sharp rises, and Bitcoin rose from $25,000 to $73,000, setting a historic high. Similarly, this year's adjustment from March to September may pave the way for the next major rise. Although Bitcoin has broken through the new high, the subsequent main rising wave has not yet appeared, so there is no need to be too nervous and panic, the best may still be behind.
