That Time of the Year

By lordneroo | Crypto Hustling - Airdrop Sniping | 28 Mar 2022

It sure is a very nice feeling to wake up to an ocean of green. Looks like we are gearing up for the seventh green daily candle in a row for Bitcoin, if we manage to stay above the $46.8k mark that is. Order books on Binance (BTC/USDT) hint this is the most likely scenario, but you know, this is crypto. Price movement is and always will be unpredictable.

It's probably the first time since late July 2021 that we get more than six successive green daily candles. Back then, BTC flew from $29.7k all the way to $42.2k after posting ten green daily candles, and retested the $38k level only to start moving towards its all-time high of ~$68.7k, which came almost two months later, in November 2021. Those were good times for crypto; the 2017 vibes were real.

Source: Nile

The interest thing is that the crypto market was thriving in an utterly hostile environment this time around. Almost two years of all sorts of restrictions had already started taking a huge toll on the global economy, leaving national economies and businesses counting the costs, and putting a break on economic growth. The worst part is there was no light at the end of the tunnel. The future was uncertain.

Record inflation was approaching, but you stood a 100% chance of being branded a mindless moron if you had the audacity to question the effectiveness of the catastrophic lockdowns. It was all a complete shitshow, but thankfully, crypto couldn't care less. The space was designed to be a way out of the corrupt central banking system, and we all know it's easier to take risks when there's not much to lose.

Fast forward to March 2022 and it looks like the market is warming up for another run even though it's evident that the world is in even bigger trouble today. If we take into consideration the rate at which people keep innovating and coming up with amazing solutions to some of the biggest problems in the space, as well as the ever-increasing number of daily active users, then it should come as no surprise that the ecosystem keeps attracting attention and capital.

However, if we take the time to sit back and realize that the world is currently knee-deep in pretty much all sorts of trouble, it goes without saying that the crypto industry is demonstrating surprising strength. Take Covid and the war in Ukraine out of the equation, and Bitcoin would be exploring new highs right now. I don't know when we will get a new all-time high for the top crypto by market cap, but I do know it's only a matter of time at this point.

The end of Q1 2022 is only three days away, yet BTC is 6.7% up again today. I was expecting golden boys taking profit for those beautiful quarterly reports of theirs, but I see no selling pressure on BTC. At least not as much as I was expecting. This is very bullish in my humble opinion, and I will be pleasantly surprised if we manage to get an eighth consecutive green daily candle. If BTC keeps climbing up throughout the rest of March, we may be in for some huge surprises this summer.

Let's not forget that tax day in the USA is less than 20 days away. That rhymes. I expect BTC to lose ground during the first two weeks of April, but yeah, you just never know with BTC. However, if we manage to get another green monthly candle, things may start to get interesting. I've got all the time in the world and a huge box of popcorn, so let the games begin.

That sums it all up for now.

Never forget!

NFA - DYOR

I'm just a random guy with opinions. This is by no means financial advice. Just my personal thoughts and experiences.

Have a good one everyone,
@lordneroo