02-27-2023, 07:04 AM
We just had the longest streak of profit-taking since the 2021 bull market. Showing
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/11com1g/we_just_had_the_longest_streak_of_profittaking/"> <img src="https://b.thumbs.redditmedia.com/AZPKX3zT5zNPF2BzxxejWrdjW6ECZ6RTHsexoMcGIvw.jpg" alt="We just had the longest streak of profit-taking since the 2021 bull market. Showing how significant this rally to $25k actually was." title="We just had the longest streak of profit-taking since the 2021 bull market. Showing how significant this rally to $25k actually was." /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>While we are currently in a very crabbish period as we look at the price charts, this is exactly when we just zoom out and reflect how much of an impact this rally actually had. From $16k to over $25k, BTC had a over a 60% gain in just a bit more than a month. Still for many the levels of $16k and $25k may sound equally low but we have to look at the amount of healing that did for a market in a brutal bear market for over a year.</p> <p>This can be seen through the net profits metric that is just calculated through, Realized Profit - Realized Losses. We have been in the are of net losses since the bear market started in about November of 2021, since then we only had minor days or even one full week of profit-taking.</p> <p>​</p> <p><a href="https://preview.redd.it/mpex7t6hskka1.png?width=1800&format=png&auto=webp&s=0209d6dedabe44a3ed476f48190cac59e5948506">Chart imported from glassnode</a></p> <p>Here we can see that this is now finally over as we have been in the LONGEST streak of profit-taking since the very bull market in early November 2021 while we were hitting new ATHs. This period has now lasted for over 3 weeks and just shows that even with a rally that has not put us significantly above the lows of this bear market, it has given us some much-needed relief.</p> <p>This should also be another reminder to enjoy the small things (while they last), such as our pump right now. We could have also been just crabbing at $15k still or even lower but we are not, we should be happy and grateful for that.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/partymsl"> /u/partymsl </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11com1g/we_just_had_the_longest_streak_of_profittaking/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11com1g/we_just_had_the_longest_streak_of_profittaking/">[comments]</a></span> </td></tr></table>
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/11com1g/we_just_had_the_longest_streak_of_profittaking/"> <img src="https://b.thumbs.redditmedia.com/AZPKX3zT5zNPF2BzxxejWrdjW6ECZ6RTHsexoMcGIvw.jpg" alt="We just had the longest streak of profit-taking since the 2021 bull market. Showing how significant this rally to $25k actually was." title="We just had the longest streak of profit-taking since the 2021 bull market. Showing how significant this rally to $25k actually was." /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>While we are currently in a very crabbish period as we look at the price charts, this is exactly when we just zoom out and reflect how much of an impact this rally actually had. From $16k to over $25k, BTC had a over a 60% gain in just a bit more than a month. Still for many the levels of $16k and $25k may sound equally low but we have to look at the amount of healing that did for a market in a brutal bear market for over a year.</p> <p>This can be seen through the net profits metric that is just calculated through, Realized Profit - Realized Losses. We have been in the are of net losses since the bear market started in about November of 2021, since then we only had minor days or even one full week of profit-taking.</p> <p>​</p> <p><a href="https://preview.redd.it/mpex7t6hskka1.png?width=1800&format=png&auto=webp&s=0209d6dedabe44a3ed476f48190cac59e5948506">Chart imported from glassnode</a></p> <p>Here we can see that this is now finally over as we have been in the LONGEST streak of profit-taking since the very bull market in early November 2021 while we were hitting new ATHs. This period has now lasted for over 3 weeks and just shows that even with a rally that has not put us significantly above the lows of this bear market, it has given us some much-needed relief.</p> <p>This should also be another reminder to enjoy the small things (while they last), such as our pump right now. We could have also been just crabbing at $15k still or even lower but we are not, we should be happy and grateful for that.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/partymsl"> /u/partymsl </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11com1g/we_just_had_the_longest_streak_of_profittaking/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11com1g/we_just_had_the_longest_streak_of_profittaking/">[comments]</a></span> </td></tr></table>