Today is March 27, 2023 and March Madness is here. Ladies & gentelman crypto is on a roll. Prices are green, greed is in the air, the market is starting to pump.
The Fear & Greed Index hit a 16-month high (68). Investors haven’t felt this greedy since Thanksgiving ‘21 when everyone was eating turkey with a side of BTC. Bitcoin closed the week at $28k+ for the first time in 9 months.Bitcoin had its biggest weekly gain (+26.11%) since April 2019. It’s been 4 years… So this appears to be the time many of us have been waiting for.
So what? Well first of all, if you’re a Bitcoin investor – congrats, you’re probably up big.
If you aren’t, don’t worry because Bitcoin pumps like this are sometimes followed up by…
Altseason. This is a function of the market due to new participants flooding into crypto around the same time, and can be triggered by stuff like BTC halving events or a sudden loss of faith in centralized financial systems. There is no question the masses are losing faith in the U.S. Federal Reserve and banks in general.
And crypto investors love altseason more than Owen Wilson & Vince Vaughn love wedding season.
The Path to Altseason can be split into 4 phases as covered in the chart above.
Right now, we’re probably in the overlap part between phase 1 and phase 2. ETH is also up big (~20% over the last 7d), but it hasn’t outperformed Bitcoin yet. But we could see a bigger flow into ETH as the Shanghai upgrade gets closer & closer…
Who knows if this is exactly how it’ll play out but, buckle up crypto investors – Altseason could be coming soon. With the right Alt coins 10X – 50X, even 100X gains are possible.
