It's been a few months since I talked about the current status of Bitcoin and Cryptocurrency markets. 📆
We have been in a huge "Bear Market" since early 2018 and seen lots of up and downs.... from the all time highs topping around 20k to the abyss lows of $3k. 📊
So where are we at in the Psychology of the Market Cycle?
As tons of "Moon Boys" on YouTube and Twitter screamin' we're all heading to 100K this year are just fooling themselves and their followers for views, fame, attention and clout.
In my opinion, we have been in the "Disbelief Cycle" for some time now and will continue that process for the rest of 2020 into the "Hope Phase" toward the end of the year. 🙋♂️
What does that really mean? 🤷♂️
We are going to see lots of rallies and sell offs confusing people to "FOMO" or "Capitulate" their holdings.
This is why they call it "Psychology of a Market Cycle"... It's meant to mess with the "average joes" (80% of people) emotions to make bad decisions.
Like I stated many times before, I believe that the next "real" bitcoin run will happen in 2021-2022 then repeating the whole market cycle process again.
"So Charles, what should I do?" 🤦
Well, I'm not a financial advisor and you should make your own decisions in life... with that being said, here is my opinion.
It's accumulation time!! ... but you have to have the stomach for all the pumps and dumps that will occur in 2020... and if you can handle that, you are going to be one happy sailor in 2021-2022.
I'm really liking Bitcoin at $5000, hope it reaches there!! LOL
Remember crypto is a very "speculative investment" and most "cryptos" will go to peanuts in a few years being replaced by new coins.... over and over again.
Keep on STACKIN! 😎
~ Charles Fuchs
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