45/50 Top Coins are higher over the past 24 hours. I saw a stat earlier in the week that made my head spin. BTC rallied from $5,800 to $19,200 in 31 days last year. Of course, this is old news. But seeing it in writing gave me serious pause. (Not advice. DYOR.)
In commodity markets, there are “seasonal factors” – or times of the calendar year where assets perform better than others. Last year is probably a huge anomaly for cryptos, but the question persists: are 4th quarters the best time for digital assets or was last year a fluke.
I don’t have an answer but I know others have no shortage of views on the subject. The tone of the market is improving day-by-day but the market is still a million miles from where it was even a few months ago. We need to see a more sustained, deeper rally before you can say with any conviction the market has turned back in the bulls favor. But this “31-day” monster rally last year does make you realize things can change very rapidly in cryptos and you have to pay attention closely or you may miss the move. Some people prefer the long-view – good for them. When you’re in the space, and BTC & ETH are the currencies funding all the transactions, you’re sort of required to pay closer attention.