An intriguing observation cited by crypto analyst CryptoCon relates to the propensity for Bitcoin to form significant price peak events around the timing of major news announcements that theoretically should spark rallies.
In reality, the opposite effect takes hold once the developments finally materialize.
Examples of Bullish News Marking Tops
- December 2017: CME Bitcoin futures launch
- April 2021: Coinbase IPO came day of previous cycle
- January 2024: SEC approves Spot Bitcoin ETFs
Additionally, he notes cases where major negative developments aligned closely with ultimate bottom formations:
- November 2022: FTX collapse and bankruptcy marked the cyclical low
- March 2023: Silicon Valley Bank failure exact market bottom
- June 2023: – SEC declares 61 altcoins as securities. Preceded a durable low
The analysis suggests traders should view major adoption milestones or regulatory news, which typically appear unequivocally positive or negative, through a lens of contrarian skepticism rather than acceptance at face value.
These scheduled agenda items seem to have a consistent history of trapping participants on the wrong side of moves right as momentum reverses. Maintaining objective perspectives and utilizing other indicators prove critical during such potential inflection points.
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