Candlestick charts don't lie, but 'narratives' do. Watching this identical double-top pattern emerge, I can't help but marvel: human nature is a circle. When it hit 120,000, I also believed in the 'super cycle,' thinking BTC had finally escaped gravity. The price paid was a 20% loss. Just like when Three Arrows Capital promoted the 'eternal bull market,' all the 'this time is different' stories ultimately turned into 'this time is the same.' Cycles never disappeared; they just changed to a more appealing name to harvest liquidity.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Candlestick charts don't lie, but 'narratives' do. Watching this identical double-top pattern emerge, I can't help but marvel: human nature is a circle. When it hit 120,000, I also believed in the 'super cycle,' thinking BTC had finally escaped gravity. The price paid was a 20% loss. Just like when Three Arrows Capital promoted the 'eternal bull market,' all the 'this time is different' stories ultimately turned into 'this time is the same.' Cycles never disappeared; they just changed to a more appealing name to harvest liquidity.