Enthusiasm and Euphoria in the Bitcoin World Are Common. Trust and Patience Are Scarce.
To get the most out of Bitcoin, you'll need a lot of confidence and patience.
The month of October 2021 has just ended and the price of Bitcoin closed above $61K. This gave us an excellent performance for October 2021, renamed as Uptober by some, as the Bitcoin price was $43K on October 1st.
The performance of the Bitcoin price was therefore around +40% for this month.
Nevertheless, this should be just the beginning as the next few weeks look promising for the king of digital currency. Generally speaking, November and December are even better than October for Bitcoin.
Of course, history doesn't always repeat itself, but it often rhymes as Mark Twain once said.
Enthusiasm and euphoria are common feelings when Bitcoin is in a Bull Market
Add to that extremely bullish fundamentals, and you can see why I think Bitcoin is in for a run towards $100K in the coming weeks. The performance of the Bitcoin price over October has brought back the feeling of greed in the Bitcoin world.
A feeling of euphoria that is often preceded by enthusiasm. These two feelings are the most common in the Bitcoin world. They can be found when everything is green, and the price of Bitcoin is soaring.
This was the case at the end of 2017, then at the end of the second quarter of 2019, at the end of 2020, then at the beginning of the second quarter of 2021.
When everything is green and the price of Bitcoin keeps beating ATHs (All-Time Highs), it is obvious that it is easy to believe in the Bitcoin revolution. Anyway, even if you don't believe in it, the mere fact that Bitcoin is a NgU technology is enough to convince you. The natural human appetite for money does the rest.
Things get complicated when Bitcoin enters a Bear Market
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