Seven consecutive 21-week channel breakouts bore witness to the strength of the bull run. Check out this chart:īTCUSD, weekly: Starting in October 2015, Bitcoin (and most other cryptos) embarked on an epic, 38-month rally. Bitcoin’s first 21-week bullish channel breakout (closing basis) since October 2013 occurred. In October 2015, a long-anticipated technical event happened. But a powerful, precipitating event was still needed to get Bitcoin into sustained rally mode. Gox crypto heist (and subsequent bankruptcy) of early 2014 was enough to dampen the enthusiasm of new crypto investors. This new, widespread awareness of Bitcoin, cryptocurrencies, and the blockchain helped set the stage for the spectacular crypto market rally. Gemini, a Winklevoss- founded exchange, fully opened in October 2015.Īpparently, not even the memory of the infamous Mt. New crypto exchanges opened for business. Even kids began to learn about blockchain technology, decentralized digital currency, smart contracts, and crypto mining rigs. Social media began buzzing about the supposed certainty of Bitcoin one day replacing antiquated, government-run fiat money systems. Perhaps their status as rich, tech-savvy innovators and investors also began to turn the heads of demanding investors toward the crypto markets.Īround the same time, more and more crypto-centric education and commentary began to promulgate across the internet. The famed Winklevoss twins were also in the financial news. Investors compared those strong returns to the volatile, near zero-gain ride seen in the S&P 500 index during August-December 2015. Bitcoin eventually finished 2015 on a strong note, up nearly 40 percent. Toward the end of 2015, major financial news networks had taken an interest in Bitcoin and other cryptos. Key Dynamics of the 2015-2017 Crypto Market Mania You’ll no longer get whacked trying to sell after a panic-induced stampede for the exits hits. In future bull runs, you’ll be able to grab profits by selling into market strength.
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You’ll also learn how to ID a runaway, bullish market ready to blow apart. Here’s a closer look at the rational reasons for the crypto market’s stunning reversal from unstoppable bull to wounded bear. While it’s too late to undo any of your crypto investing mistakes, it’s never too late to do a post-mortem. You may also struggle to understand the how and why of the crypto market crash. Crypto’s subsequent bear market may even have wreaked havoc on your crypto portfolio’s value. It’s been nearly a year since Bitcoin’s epic, blow off top. The over 80 percent decline seen in Bitcoin and other crypto markets may still have you shaking your head.
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