Is the Crypto BULL MARKET Finally Starting!?
So if you enjoy short form, concise, no bs content that doesnt waste either of our times well make sure to like the video and subscribe to the channel. Also just an fyi. The patreon is officially sold out, but we do have a free discord that i recently created. We have close to a thousand members in there after less than 24 hours, so make sure to go. Join that using the link down below it is completely free, anyways. Right now, the overall crypto market has been bouncing back, and a lot of this has to do with overall macro events. So recently we saw a lot of fun come out of china causing a bit of scare in the market, then that sort of passed everyone got over all that fud coming out of china and people have come to expect negative news from china, which is good because Now, whenever we have more information come out of china, people are not going to be as reactive to it because were expecting the worst, which is good from coming out of china. We dont really need china involved with crypto. Then we saw a lot of pressure and a lot of events come out with the us government from the infrastructure bill to a government shutdown, and this is calling causing more fear in the market. But now a lot of this fear has passed us. We saw that the senate just reached a deal to avoid a government shutdown.
We are seeing um with the infrastructure bill in the u.s that this is likely going to pass, and we already know how this is going to affect crypto. So now, with a lot of this stuff past us, we are seeing people move forward, start looking forward in the markets, and this is very exciting. One thing with regards to technical indicators, which i think shows us, is a major buying opportunity. Some people dont like this, but is with regard to the fear and greed index right now. The fear and greed index is at 20, which is extreme fear. It has continued to drop day after day. You could see the day before was at 24. last week was at 27 and last month was 73 and we have just continued to get more and more fearful and, like we said this has a lot to do with fud coming out of china fudd with the Us government potentially having a government shutdown and it was just going from china to the us government, and now this is finally getting past us, but the reason that i think this is good news is because last time we were at 20. This was back in july of 2021 right before bitcoins price went from 28 000 per coin to 55 000 per coin. We are at the exact same level right now and when there is extreme fear in the market that is honestly the best time to get in when people are very greedy buying and buying and everyones experiencing fomo.
That is not the best time to get in now is the best time to get in, but so the big question is is: when is the crypto market officially going to have this breakout? So i found this chart on twitter very, very interesting, so it says lets compare 2017 and 2021. Look a little more closely. This is a chart for 2021 were moving it over uh. This is a chart for 2017. and what it showed us is that there were 23 days um 23 day correction to break out on september 25th, which was right here and then it was 40 days until a higher high was made on october 12th. So what they said is: okay, heres, the high right here. When did we break above that high? Well, it took 40 days and it took 23 days to reach the bottom now. The interesting thing here is, like i said, im, not normally a big technical analysis guy, but this is something too good too interesting to pass up now were looking at 2021. The exact same thing is happening from about uh september, 7th until september 30th. What we saw is that we had a high on september, 7th right around 55 000 per coin, not the all time high for bitcoin, but it was a high after a recent rally we had so we saw that high on september 7th. Then we had 23 day correction and that led until september 30th. This is interesting because we talked about this a couple days ago in our private investing group.
We said this is the day crypto was going to break out, and this is exactly what happened. We saw this 23 day correction and now weve officially broken above this um triangle shape thing right here we broke above this chart and now we are very looking very, very bullish. So now everyones saying when are we going to see a new all time high? Well, that is 40 days from the initial correction, which puts us right at october 17th, so everyones saying when are we going to reach new record highs? According to these charts, it looks like we will see an official breakout above coin for bitcoin on october 17th, 2021., while theres no way to know for sure this chart looks very, very sim, interesting and eerily similar to 2017. other things that could be triggers in the Market are going to be the sec officially approving a bitcoin etf. This is going to allow for hundreds of billions of dollars to flow into crypto and everyones, been asking well whats going to change. How are we going to see a massive inflow of capital into bitcoin? If whales are already buying now, how are we going to see more money come in? Well, this is the exact event that we would be waiting for. Sec has set a decision for this on the middle of november november 14th, so that is another key date that were going to need to keep an eye out, for that could be a potential um catalyst in the market to help push us to new record highs.
In addition to all of these uh technical indicators, major experts in the space are saying the same thing mike novogratz has come out and said that he thinks we are going to see a major surge in crypto before the end of 2021. He says that his guess is around halfway or a third of the way through q4 2021, but either way everything is lining up right now in terms of technical indicators in terms of fud, in terms of the sec coming to decisions, everything is lining up. Looking very optimistic and historically q4 is green, so thats whats, going on with crypto. I want to point out a couple of these key dates: november. 14Th october 17th.