Will STEEM price follow 2017 pattern? 🤔
I thought STEEM price started increasing since February this cycle. But, it wasn't.
In 2017, STEEM price had consolidated until February, and started surging in May for the first time, then had a price correction in July.
As you know, usually, summer season isn't good for altcoins. STEEM wasn't exceptional as well.
Finally, STEEM price had an exponential growth from 2017 December to 2018 January.
How about 2021? STEEM price started increasing since February. Then, it formed the 1st top in April. While the 2nd top formed in Sep, it's much lower than the 1st top.
As well as, 2021 summer wasn't good for altcoins.
How's the STEEM price doing nowadays? The recent monthly STEEM candlesticks look similar to 2017 pattern so far.
It's likely to happen a long-lasting bullish market like 2017. If history repeats itself, the 1st top would likely be formed before this summer.
Most retail investors have given up the altcoin market, and they already judged "It's over. It's already been through." What? Was more than 100% profits in last Q4 the 3rd altseason? If yes, why did you invest altcoins? If my target profit ratio is around 100%, there's no reason to invest altcoins.