How could we not see this?
History doesn’t repeat itself, but it rhymes. We experienced a crypto market crash this week because of a chain of events, but could have we predicted this? Seems yes.
Some useful tools indicate when Bitcoin — and the entire crypto market — is oversold or overbought. I talked about this in another article.
From all the tools, only one seems to have predicted Bitcoin being overbought since April 13th. It also predicted the same thing in 2013, around the same period (April 9th).
The Pi Cycle indicator predicted crashes in 2013 both times, in 2017, and now in 2021. I saw it, but I was too cocky and foolish to believe it.
The good part is we are not in a bear market yet, we will experience a new boom until the end of this year. We will keep an eye on the indicator and see.
Disclaimer: I am not a financial advisor and don’t recommend investing in anything as nothing is guaranteed. Everything I write on the topic is for informational and educational purposes only. Always do your research.