Learn from 2022, remember Justin Bieber buying a NFT? Or Etherocks becoming super popular?
Identifying Cycle Top Signals:
- Coinbase Becoming #1 in AppStore: Suggests peak mainstream interest in cryptocurrencies, often a sign of market euphoria.
- Uninformed Friends Outperforming You: When individuals with little market experience start making significant profits, it indicates a speculation-driven market.
- Media Optimism About No More Bear Markets: Excessive bullishness in mainstream media can be a contrarian signal, often occurring at market tops.
- Influx of Newcomers from Web2 and Venture Capitalists: A sudden rush of investments from new market players, especially those inexperienced in crypto, can signify overheating.
- Surge in Luxury Watch Sales: An increase in luxury goods purchases can indicate excessive disposable income from speculative gains.
- Revival of Legacy Coins: Older cryptocurrencies hitting all-time highs suggests a broad-based market frenzy.
- Increase in Cryptocurrency-themed Tattoos and Music Videos: A rise in cultural phenomena around cryptocurrencies can be symptomatic of peak market hype.
- High-Profile Figures Re-entering the Market: Celebrities or well-known figures re-entering the market could indicate a FOMO-driven environment.