This 2 steps same vertical is a useful indicator of the top fbs-accordeion> Credit: ADVFN
This same two vertical steps has always been a very useful indicator of the top for me, but you should always take mapping voodoo with a good pinch of salt.
For me, there is a feeling that crypto has gone from a cohesive bull market to an inconsistent market where it is impossible to see through the foam to the underlying trend .
DeFi (decentralized finance), where I played after leaving Ethereum and Bitcoin for others, went from a 10x game to a volatile percentage game and NFTs (tokens non-fungible) saw its week in the sun and experienced its first cycle of boom, bust and recession.
My position - that cryptocurrencies, DeFi, NFT and all other categories present or to be born are for a generational bull - is unchanged but if bitcoin has seen its peak, all that will suffer the bear part of the crypto cycle that itsuffered more than once before.
If bitcoin breaks out again the sky is once again the limit and if so I guess I will play in DeFi again where the rise would once again be multiples and not percentages. Although positioned to do so, I would be extremely surprised to see it.
In thanking Mark Twain, I expect the future to do little more than rhyme.
Clem Chambers is the CEO of Private Investors website and author of 101 Ways to Pick Stock Market Winners and.
Chambers won the Journalist of the Year award in the Business Market Commentary category at the State Street UK Institutional Press Awards in 2018.