Is The Top In? Don't Think So

We are well towards the end of October which is also known as Uptober in the crypto space. And it was surely looking that way. There were some very good gains. Bitcoin, ethereum and other coins but what happened afterwards is totally out of anyone's expectation and caused a huge shock. Historic 19 billion wash off from the market will be remembered for years. We've had our fair share of discussions on that matter. How that happened, why that happened etc. but now let's look at something different. Something we've been eyeing at for a while until that happened. About who BTC's all-time high of $126,000. ---  [Source](https://unsplash.com/photos/black-samsung-android-smartphone-on-brown-wooden-table-rDzI7m7sjPE) --- The normal question is: was that in the top? And will Bitcoin go any further? Many would argue that the top is in. But we must remember that momentum was still on the course. And the sell-off we had was simply a huge Cascade of leveraged trades and some geopolitical jargon. We should remember that crypto is not solely crypto anymore. It is now integrated into a larger fiasco that is macroeconomics, geopolitics and Wall Street. So I don't think the traditional 4-year cycle will stay in force this time around. I mean if we try to figure out how Bitcoin went up to $126,000 valuation then we will see that a large part of this was not what usually happens. Usually it is retail investors who are thought that they were missing out and then they go all in. But this time it was institutional investors. ETFs of Bitcoin and institutional investors such as Black Rock and other financial companies I think are also buying Bitcoin at a big scale. These are added investments that were not present before. And the sheer volume of their announcements make it our business to consider what they think to predict the future of the market. And according to Wall Street estimates vary between $150,000 to $200,000. So if they keep pushing and keep on buying BTC then I guess we will be headed in that direction. The fact that BTC is still holding a healthy position upwards of $100,000 after the sell-off. It is an indication that BTC is destined to go higher. The way we have thought about market prices in crypto is about to change. Because there are a lot of new players in the game and they are big players and they will sway the market their way. So BTC will be having inflated expectations more than before. While the other truth is, people are holding on to more and more BTC than ever. And if we combine the two facts then my verdict is the top is not in and we will go higher. And after that in the next pool cycle who might go parabolic again.