In this blog post, I'm going to provide you with a thorough answer to this important question...👀🚀
Make sure to read until the end!👇🤑
Let's take a look at how the mania phase appeared in 2021 during the market's peak:
1. Coinbase was the number one app in the store.
2. It was common to see Altcoins increase by 10 times in just a month.
3. People no longer saw any risks associated with crypto.
4. Suddenly, people you haven't spoken to in years started asking you about crypto. (If these individuals, also known as "dumb money," are showing interest in crypto, it begs the question: who is left to buy?)
5. There were crypto communities that resembled cults.
6. If you expressed bearish sentiments, you would be laughed at.
7. Dog coins were skyrocketing in value, and not just $DOGE or $SHIBA, but also the most outrageous and amusing dog coin names you could ever imagine!
8. Unrealistic price targets were being thrown around, like $1 million per $BTC, and so on.
9. Songs were being created about crypto.
10. Celebrities were getting involved in the crypto world.
11. The news was filled with the most bullish stories, such as the Coinbase IPO and El Salvador adopting crypto as legal tender.
12. People were flaunting their cars and watches online after making millions in crypto.
"History doesn't repeat itself, but it often rhymes."
This statement holds true in this case!
We will likely witness similar warning signs to the ones I just mentioned during the next major market cycle peak.
You might be wondering, "But aren't we already seeing some of these warning signs?"
Well, partially yes.
However, Altcoins have not yet reached the euphoria stage!
Keep in mind that the TOTAL 2 (Crypto Total Market Cap Excluding $BTC) has not even reached new all-time highs in this cycle.
The best is still yet to come for Altcoins!
I anticipate that this index will reach its peak somewhere between $2-7 trillion.
When that happens, along with technical indicators and price action that I utilize to my advantage, it's time to exit your altcoins!
Look out for the following signs:
- Lower highs and lower lows
- Downward trendlines/patterns being broken
- Bearish divergences in RSI/MACD
- Significant candle wicks to the upside
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