Quote from: $weetne$$ on Today at 03:39:53 PM

Quote from: isabellajones on May 30, 2024, 01:08:06 AM

Since the launch of a bitcoin exchange-traded fund earlier this year, bitcoin has recovered and even surpassed its all-time highs set during the 2021 bull run. But for weeks, it looked like the largest cryptocurrency was trading sideways at best.

It depends on the timeframe that you are using to look at Bitcoin that will determination if Bitcoin is in an uptrend direction or going downwards. If you bought Bitcoin at the highest price in a bull market, Bitcoin will keep going downwards in your own eye but for an investors that bought when Bitcoin was having a correction and then the price starts recovering, Bitcoin will be going in an upward direction. If you buy and hodl Bitcoin, you will always be in an upward direction after some years because Bitcoin keeps adding value. The value of Bitcoin will keep adding price as there is more adoption for Bitcoin, the more popular Bitcoin is becoming we can only expect for there to be more investors and it will make the Bitcoin price to keep going upwards.

I don't think it can be seen from the MECHANISM as you say, because it is quite strange and how can people who buy at the top will assume that bitcoin will always go down? talking about the trend we will see movements based on time periods, annual, monthly, weekly and daily, we can see that the bitcoin trend will be like what, whether bullish, bearish or sideways, it can be concluded.

To see the trend we need to look at past data and the potential that may arise in the future, such as in the annual and monthly trends we are in a bullish position, and our weekly trend position is in a sidways trend, so the trend can be seen, including in the bitcoin cycle it is an indicator to see a trend, not to look at when you buy.