(Problems with the embedded audio? Listen here: May Recap, June Preview.)
I have a confession to make.
Since March 30, 2020, I have run a scam. False advertising, misleading headlines, call it what you will, I’m sorry. While I had the best of intentions, I screwed up.
What did I do?
I gave you a plan for bitcoin’s bull market . . . when there was no bull market!
At the time I created my plan, bitcoin’s price had gone up 33% over the previous year, far outpacing any other investment asset you and I can buy. It had just recently recovered from a black swan capitulation event (the global financial crisis) and had doubled from its “local bottom” earlier that month.
I thought that’s what happens during bull markets, hence the name.
I was wrong. According to the experts, bitcoin’s bull market started in December 2020, after bitcoin’s price had gone up 415% since I published my plan.
Now it’s over!
WE MISSED THE BULL MARKET!!!
I don’t know what I can do to make this right, but I’m going to take a long time to sit, think, and reflect on this moment—and I’ll try to do better.
I’m joking, of course.
Kidding aside, the entire market went straight up for six months. That’s insane. Even bull markets need to take a break now and then. A few months of consolidation can do wonders for the overall health of the market.
We’ve seen big drops and consolidations of up to seven months in 2012, 2013, 2015, 2016, and 2019. Each time, all of those consolidations happened within a larger uptrend between market cycle peaks.
A lot of people use 2017 as their benchmark. The other 11 years are worth looking at, too.
Here’s what you missed in May and what you can expect in June.
What you missed in May
Market Updates
Sunday Rundowns
What to expect in June
Perspective on the markets and the news.
Weekly rundowns of interesting stories, events, and observations.
Bitcoin and altcoin market updates (premium subscribers only).
Do you have any airdrops you could recommend? Email me at mark@markhelfman.com and I’ll use your referral link!
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Relax and enjoy the ride!
May Recap, June Preview for Crypto is Easy