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The cryptocurrency market's Bull MarketBTC experienced a significant 20-day surge before a pullback.
Carefully observing every breakthrough pump of BTC, you will find a regular time cycle, which can be used as a reference for future market trends.
BTC rose significantly for the first time, rising from a low of $50,526 on February 24, 2024 to a high of $73,764 on March 14, 2024. The rise was 46%, lasting for 20 days. Then it fell to $60,756 on March 20, falling for 6 days, with a decline of 18%.
The second time BTC rose significantly, from the lowest price of $58,800 on October 11, 2024, to the highest price of $73,615 on October 30, 2024. The rise was 25%, rising for 20 days. Then fell to $66,853 on November 5, falling for 6 days, a fall of 9.2%.
BTC rose significantly for the third time, rising from a low of $66,853 on November 5, 2024, to a high of $99,549 on November 23, 2024. The increase was 48.9%, lasting for 19 days. It then fell to $90,808 on November 27, 2024, decreasing for 4 days with a decrease of 8.7%.
This time, BTC pullback came as scheduled, the first significant pump of BTC experienced a 20-day pullback, the second time a 20-day pullback, and the third time a 19-day pullback. After falling for about a week, it will start to pump again. These are just false alarms. Even in a Bull Market, one should not blindly be optimistic, but should have a psychological expectation.
However, during this pullback, Ethereum and altcoins have clearly begun to gain momentum. Now, while BTC and altcoins are falling, BTC is rebounding, and altcoins are rising even more strongly. Therefore, the pullback of BTC is also the starting point for the outbreak of Ethereum and altcoins.
The greed index started to rise in November, and the two-day pullback only cooled down the extreme greed. Moreover, altcoins did not fall much in these two days, so the market sentiment has been developing in a positive direction. The real ignition point of the encryption market bull market sentiment will definitely be after BTC breaks through $100,000. Just wait, it's not far away!