Same chart pattern as in 2021
Is the bull market just coming to an end? Will the escalation in Iran finally lead to a big market drop because of the cascade: higher oil prices - higher inflation - no more rate cuts - recession?
If we look at the monthly chart it reminds us of the pattern we saw 2021. Two slightly higher ATH at 60k and 69k and then a huge sell off, crypto winter. We now had a high at 100k and then 111k. Market correcting since, driven by macro FUD, Iran, Ukraine, Trump tariffs, you all know it.
For me this above sketched scenario seems a bit too obvious, a bit too fitting, a bit too „easy“. The past months have shown how quickly things and sentiment can change again.
At least at this point we don’t know if things will really escalate further and turn out this way. I am still optimistic that we can avoid the market U turn but we have to be prepared it could happen. We could be forced to have even more patience with Bitcoin then we already have proven.
What do you guys think? Crypto Winter approaching or is this just a storm in a golden fall?