Bitcoin’s Wild Ride: Why Comparing It to 2017 is Like Comparing Apples to Oranges ๐Ÿ๐ŸŠ

by

Ah, dear reader, gather ’round as we delve into the curious case of Bitcoin, that capricious creature of the digital realm. Our protagonist, Tony โ€œThe Bullโ€ Severino, has taken it upon himself to issue a most solemn warning to the crypto enthusiasts. He implores them, with a tone reminiscent of a wise elder, to refrain from the folly of comparing the current Bitcoin cycle to the illustrious bull run of 2017. For, as he points out, the charts tell a tale that is far less rosy than one might wish to believe. ๐Ÿ“‰

Stochastic Oscillator: A Tale of Two Markets

At the heart of Severino’s discourse lies the stochastic oscillator, a rather fancy term for a momentum indicator that whispers sweet nothings about whether Bitcoin is overbought or oversold. When one gazes upon the monthly candlestick chart, one is transported back to 2013, witnessing the grand cycles of bull and bear, much like a tragic play unfolding on stage. ๐ŸŽญ

//s3.tradingview.com/snapshots/x/x78PXCAs.png” alt=”Bitcoin Stochastic Oscillator Chart”/>

Severino suggests that any current similarities to the 2017 bull market are but a mirage, leading the unsuspecting investor down a path fraught with peril. The leading cryptocurrency, it appears, may be on the brink of a similar corrective phase. How delightful! ๐Ÿ™ƒ

Bitcoin Price ChartBitcoin: A Price That Could Go Either Way

In recent days, Bitcoin has found itself in a bit of a pickle, struggling to attract the robust inflows it so desperately craves. The on-chain data reveals that many short-term holders have paused their buying spree, a sign that does not bode well for the optimistic among us. The ongoing correction, it seems, may linger like an unwelcome guest at a dinner party. ๐Ÿฝ๏ธ

Yet, amidst the chaos, Bitcoin has managed to cling to its dignity, refusing to dip below the $80,000 mark, even as the markets trembled at the news of President Trump’s proposed tariffs. While the Dow Jones and NASDAQ quaked in their boots, Bitcoin, in a surprising twist, rebounded above $83,000, hinting at a possible decoupling from traditional financial indices. How very avant-garde! ๐ŸŽจ

This is actually wild to seeโ€” for the first time, Bitcoin is decoupling right before our eyes.

โ€” Cory Bates (@corybates1895) April 4, 2025

As we pen this narrative, Bitcoin finds itself trading at a rather respectable $83,693. What a world we live in!

Read More

2025-04-05 23:11