#Bitcoin

The upper trend from 2017 scares almost everyone. In past years or seasons, it was easier to work technically in cryptocurrencies due to the lack of ETFs and institutional interest. We could obtain clearer results from the charts. Nowadays, it is necessary to interpret a much different set of fundamental data to reach a holistic conclusion. With the start of ETF approvals, the Bitcoin we knew between 2009/2021 has vanished, replaced by a more institutional and internally regulated asset. As of November 5, 2024, it was also used as an election material by the US. This has made cryptocurrencies a globally recognized asset class. From this point onward, drawing a significant trend in technical analysis and making comments based solely on that would be quite misleading. The picture you fear is of a kind that will refute all theories when we turn it into reality. Even if we were to only interpret technically, we would expect the RSI indicator seen below to reach the overbought zone in every bull season. Neither the large wave you saw in 2017 nor in 2021 has formed yet. If we look at BTC with a half-fundamental, half-technical perspective along with altcoins, if there is to be a decline in BTC, the price gap between ALTCOIN/BITCOIN needs to close first, and then it should open with the bear. However, during this period we are experiencing, we see the largest gap in history. I am not the only one saying it is unsustainable. All billionaires agree with me. Anyone you see on these screens is advocating the same idea. For the continuity of the ecosystem, there must be a bull season in altcoins!