We've just had another ATH for Bitcoin yesterday at $61,711.87 and that's a 3X from the 2020 peak. So far almost any Bitcoin investor no matter the entry point is on profit, technically not all of them, but the majority. That's a hell of a performing asset, you know. Some are even considering this $60,000 to potentially be the peak for this cycle. Imagine that...

I'd say we're not there yet, but somehow we're not too far from reaching the top either. We just need a few more months of steady upward movement and a mass euphoria phase that will heat up the volcano before it blows. So far all we've got is smoke.

If you have a look at the peak of 2013 in comparison with the one from 2017 you'll notice that the 2013 one is just a small bump on the road, or a dot on a bigger map of Bitcoin. Why wouldn't the 2017 top look anything similar on the same picture with the 2021 one as well?

I'd say it will, and considering that BTC is currently valued at around $60,000 and we haven't had mass euphoria yet then a $388,000 cycle top, as forecasted by some crypto gurus from the space, is definitely not out of the equation. For the ones being around here back in 2017 you probably remember that the way to $5,000 BTC has had a quite steady rise.

From about 5,000 to $20,000 we have witnessed the pure madness of the market and that happened in a matter of three months or so. It took BTC however, 12 months to rise from $1,000 to $5,000. During these mad times there were talks on TV about Bitcoin every now and then, kids were making money from trading and investing in ICOs, yotubers were having hundreds of thousands of visualizations with all sort of crypto related crappy videos and almost anyone, except me was making money.

We're not in that phase yet. The price of Bitcoin has been mostly driven to its current level by financial institutions, but these haven't fomoed yet. Neither did retail investors. When it will officially become the digital gold than the investors, no matter whether large institutions or retail will rush to buy into it like sheep.

That's when you know it's time to sell. Why?... Because you can pick up more with the same amount of money in about a year or so after the peak. Bitcoin might not get to gold's total market capitalization of around $10 trillion this market cycle, but some catalyst to generate extreme fomo will occur for sure and your portfolio will start showing some insane numbers.

That's when the price will get parabolic and the correction following won't be a 20%-30% one anymore. It will fall like a bullet hit duck from the sky and nobody knows where the ground level will be. That two weeks to a month time frame when everything will go parabolic it's when the best financial opportunity for taking profits will come and it would be a pity to miss it.

We're not there yet. I doubt though that BTC will get to $388,000 by end of May as some are forecasting, although I tend to believe the dollar valuation of one Bitcoin will probably be over $300,000 at its peak, but I'd say it will occur sometime between September and October this year and not in May.

Now at the $60,000 level, when looking back at the 2017 peak it doesn't yet look like a dot on a map, it's still visible, but once it will reach its top for this cycle, at over $300,000 you can be sure that the 2017 peak will appear as a great buying opportunity, a missed one for many of us. It will probably won't ever get to that level.

The peak is not here yet and after it had its latest bull market correction I'd say that the uptrend shall continue. More corrections will come on the way and previous resistances will turn into support, but the big one preceding the bear market is not yet near... This is not the top. Enjoy the bull market guys and have a great Sunday.

Thanks for attention
Adrian