The biggest threat to #crypto's current bull market in not crypto petering out, but another destabilization in the macro markets, maybe led by cracks in the mania of US equities:
I, too, want to believe in December 2021 being the top of this #crypto bull, just as December was the top in 2013 and 2017.
But when people get too comfortable in patterns is when those patterns change. History doesn't repeat, it rhymes.
Getting deja vu from March 2017, when all energy shifted from $BTC (ETF at the time) to $ETH.
That’s the far left yellow mark, with the right yellow mark Jan 2021.
When $ETH decides to move against $BTC in a month, it really moves 👀
And for those asking what I mean by $ETHBTC leading risk appetite in crypto, if $ETH is able to put in gains against $BTC, then every other coin believes it can do the same:
I've never been so assured of #crypto's eventual pervasiveness; I've also never been so worried about the odds, and ramifications, of us mucking it up.
Classic human patterns, such as those in power prioritizing themselves above all else, will continue to invade #crypto.
As we build this new infrastructure we have to constantly ask what we're valuing, who we're empowering, and why.
1/ The euphoria is intoxicating, but #crypto is in need of a pullback and consolidation if $BTC wants to reach into the $100Ks and $ETH into the mid-to-high thousands.
2/ That doesn't mean this #crypto bull market would be over, but rather a period to recharge for another wave.
3/ A useful analogy here is #crypto's bull markets are composed of a set of waves.
In the ocean, a big set can have 3-10 distinct waves that the pack tries to catch.