THE BIG TEST as Altcoin Market, Bitcoin and RTY Reach to High, Historic Date Reached, Bear vs Bull
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Hi, I am the Blockchain Backer, bringing you the latest cryptocurrency news and analysis. The content of my channel primarily focuses on crypto news, motivation, and chart analysis on the XRP chart, Bitcoin chart, various Altcoin charts, and market cap charts.
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39 Comments
Blockchain Backer Newsletter – https://blockchainbacker.substack.com
Blockchain Backer's Technical Analysis Toolkit for Crypto – http://www.BCBacker.com
Blockchain Backer 702 Digital Art NFT Collection on XRP – https://nft.onxrp.com/collection/blockchain-backer/
Hi, I am the Blockchain Backer, bringing you the latest cryptocurrency news and analysis. The content of my channel primarily focuses on crypto news, motivation, and chart analysis on the XRP chart, Bitcoin chart, various Altcoin charts, and market cap charts.
DISCLAIMER: I am not a financial adviser. Investing and trading is risky, and you can lose your money. The information in this video should not be used to make any investment decisions. You should contact a licensed financial adviser prior to making any investment decisions. Any affiliate links in the description of these videos may provide a commission if you decide to purchase their products. I appreciate any and all support of my channel, and without you, I wouldn't be here. Thank you.
@BCBacker Hi BCB big fan
from what i noticed, the crypto bros on tweeter yeah might be posting bullish shitposts, but the crowd doesn't seem to be there or at least as much i remember it from the last bull run how we toped, it was fast and volatile with everyone interacting and spamming their shit coins full of pump and dumbs with extreme euphoria (i mean just look at the numbers out there there no where near close no?).
so I'm wondering do you see a scenario/possibility where we pull back abit for some weeks/months (2-3) but not below the previous big low (so not a exactly a prolong multi year bear market) and then rump up and make a big break to the upside?
are there any examples like that from bigger markets or other coins?
🎉
What I’m about to say is in no way meant to be confrontational. I highly respect your work but I want to give some of my perspective for thought. 2017 structure wasn’t like 2021 structure so why would our base case be that 2025 structure would be like 2017 or 2021? In my opinion, base case should be that 2025 structure will be different than both 2017 and 2021 because that has been the pattern. What was the same in 2017 and 2021 was BTC dominance fell sharply and significantly at some point during both cycles. IMO that should be our base case during this cycle as well since that is “normal behavior”. I’m 100% a cycle guy but in the true sense of how cycles are properly used i(in all asset classes including sticks, commodities, real estate, etc). They NEVER predict tops, they predict bottoms with a 10% variance to either side (example, 60 day cycle has a bottom window of 6 days early or late). Tops can right middle or left translate, meaning there is no ability to predict a top date for cycle theory. All we know is the top has to occur SOMETIME before our anticipated bottom window between June of 2026-April 2027 (more likely to be closer to the perfect bottom of November 2026 but anywhere in the window is still valid. I would argue that sentiment is NOT currently bullish and nowhere near euphoria ( fear and greed is currently 57 and neutral, social media engagement for crypto is at a moderately low level). My base case is we will see some new structure (catch up trade in appearance likely (parabolic)) and BTC dominance crashing AT SOME POINT before the bottom window is active. We all have PTSD from previous cycles so we append narratives to justify our actions to “ensure” we aren’t bag holders again. In the end, it’s a market and ANYTHING can happen but as traders we deal in probabilities and the most probable outcome is that we will have a significant alt season (how broad or narrow that is remains to be seen but whichever ones fly, will fly significantly higher and the TOP for both BTC and ALTS will occur between now and June 2026… Watch price action as a guide and only after BTC dominance drops sharply to mark the end. One more piece of advice, don’t try to nail perfect tops or bottoms, get GOOD entries and exits capturing the bulk of the major moves and preserve capital for re-investment at the macro cycle lows. That is how true wealth is accumulated. Trying to change your financial situation in one trade with a home run is a recipe for disaster. Cheers and Good Luck to all…. See you on the other side friends 😉
But if this is not 2021 then what?
Watch the Gold & Silver, if they make an explosive move up then so will the ALTS, especially Silver!
Thank you BCB for all these videos and putting yourself out there to the mob (I always think of The Simpsons with pitchforks and torches)
I'm going with nothing makes sense in this market nor stocks this year and going full risk. Don't do what I do lol
appreciate you BCB!
so even with all the etfs coming out for xrp in october you think price drops, interesting
My profits are used to pay off debt is it time to sell if this is the case 😢
Your the best no matter what brother….
My personal feeling is that the smart money knows there will be at least 2 powerful market mover events coming up in October – The Clarity Act in on the docket for our lawmakers to confirm end of mon. This will be huge! Banks would finally have their long-awaited guidelines set in law to dive into crypto. And, about a dozen crypto ETF’s are due to be approved by end of month. This time may be different…
Thanks bro! Appreciate you! 🔥
You laid out so much so simply and beautifully to genuinely see the entire picture. Legendary and much needed at such an intense time.
One thing you may not be considering is that yes in late 2021 the altcoin market was lackluster but that was after a huge euphoric rise in alts from early 2021. And in late 2021 there was almost a trillion dollars traded in nft volume that was insanely degenerate and euphoric. None of that euphoria is even remotely here.
So I guess we shall see what will play out.
Thanks man. It's wild over there on X.
Let's Go RUSSEL!!!
Thanks for giving us the straight no bs data
I love you
How frustrating it will be if that was it, people kept buying them bottoms , the blood and the fear over and over for the last 4 years, and all we get would be a .728 retrace in most coins. I think this would be the reansing of the altcoin market that everyone thought of. Most projects would disappear along with a lot of early retirement dreams. How brutal… Anyways God bless you and your family, I think that your videos help a lot of people. Cheers!
Thank you bcb for putting so much time in it and SHARING it with us while getting alot of backlash..
pure integrity. love u!
We back the Backer.
Wish you well, it was hard to watch you getting cooked on x yesterday 😂
Here’s a question, what happened with btc dominance? Every other bullrun it crashed. And during that crash alts went bananas, not this one… WHY?
Appreciate your honesty. Also keeping in mind that this market brings people to their knees psychologically. Look back at your logs and see how it felt. I feel like if we were at the top, we wouldn’t see it coming.
dominance will never dump that means
But isn't it more like a 2017 parabola? I thought 2021 was broken by covid.
You're not a dooms dayer just a realist, if people cant understand your positions and reasons behind them…that's on them. Thank you for all that you do, have a great weekend!
Thank You BCB for honest analysis 💯
Thank you for all the research and presentation you do!!!!
Appreciate all you do brother! Love the honesty and transparency. Good or bad keep on killing it 💪
If you are right and it does crashes, what is the bottom so I can buy back
Everytime the r2000 goes into expansion Bitcoin tops around 365days after ,I think you will be wrong on this bear call , time shall tell , lets see!
Thank you for your analysis BCB.
THANK YOU BCB! I OPENED MY PHONE HOPING THERE WOULD BE A VIDEO AND BHAMMMMMMM! YOU MADE MY DAY! Thank you!
Goat 🐐
True 💎 in the rough, BCB! Appreciate your straightforward analysis and dedication to your craft!