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Hi,🙋

Welcome to the weekly CryptoFolks Newsletter. However, our launch procedures 🛫 require us to inform you not to consider this article as investment advice, as it represents solely our personal opinion. Always remember to manage your portfolios independently.💁‍♂️

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Let’s kick off with a meme

Finally a term describing us!!!

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After Bitcoin’s recent rally to $123k, it might seem like what everyone’s been waiting for is finally happening — and it partly is. But only partly, because we’re still missing the final piece of the puzzle. That piece is, of course, the retail crowd, which hasn’t fully joined us yet — otherwise, we’d already be on Mars 🚀. So how long until we hit that phase of euphoria, hype, and YOLO that will lift Bitcoin one final time in this bull run? Where’s this correction coming from, and why is it turning into another sideways trend? What about the scenario that’s been playing out for the past two months and continues to do so? Hey, this is Matthew, and welcome to the latest crypto market update, where I’ll clear up all your doubts!

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Should we be popping champagne already? 🍾

That’s the question many investors are asking themselves. How long can we keep waiting? Half the summer’s almost over, vacation bills are due — but Bitcoin, after a new ATH, has just stopped moving?

It’s true that appetite grows with eating, and after seeing $123k on the charts, it’s easier to imagine further growth than temporary stagnation. But stagnation is normal after a move up of over $11k in a few days. In fact, it serves as a kind of pit stop — like in F1 racing 🏎️ when drivers pause to refuel and change tires. Bitcoin is stopping to gather liquidity and retail interest before the final leg of the rally. And unlike F1 with multiple pit stops, Bitcoin only needs this one pause to begin the last leg of this bull market. To back this up, let’s revisit that earlier scenario I mentioned.

Take a look at 2017 — the situation was nearly identical. After a long ABC correction, Bitcoin made a strong move upward, then paused (see the white oval on the chart — looks like an egg, but you get it 😉). We’re now exactly in the same spot.

Looks familiar, right? So what’s next? Since we haven’t yet seen the true euphoria phase — with wild volumes, crazy liquidity, and tourists flooding the market like never before — and given the increasing interest from retail and institutional buyers (discussed in my last article)

as well as current technicals, it’s not hard to guess that after this correction, we’re entering the real HYPE, YOLO, and full FOMO mode.

One surefire sign? When everyone starts talking about crypto again and your cab driver asks, “What do you think about Bitcoin?” That’s when you’ll know. All that’s left is to wait patiently. It might be a day, or maybe even a week. I don’t know exactly — I don’t have a crystal ball 😅.

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So what will it look like?

Pretty obvious: since this is the final phase of the bull run, it will likely follow Elliott Waves, just like in 2017.

Same thing now:

Just know — these 5 waves don’t form a separate structure, but are actually the final leg of a larger wave formation that started at the local $75k bottom. It’s the missing puzzle piece.

Here’s how it looked in 2017:

Enough technicals — what else supports Bitcoin’s growth?

Definitely its declining dominance, now around 60% and still dropping.

Add to that a new ATH for total crypto market cap, breaking $4 trillion, showing that new capital keeps flowing into the market 💸. This supports current prices of Bitcoin and other top projects.

And don’t forget traditional markets in the U.S. — indexes are pumping like crazy. Just look at the S&P500:

Same goes for tech stocks:

Think it can’t get better? Take a look at the U.S. Dollar Index — crashing hard:

And we know that a weaker dollar means stronger risk-on assets like Bitcoin. You don’t need a PhD to figure that out.

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In summary

The current Bitcoin correction is just a pit stop before the next leg up, when retail finally joins in — kicking off the long-awaited peak of the bull run. It’ll be a time of extreme positivity, HYPE, and YOLO, with prices skyrocketing and everyone talking about crypto again. That’s when you should start thinking about getting off the train, even if it means missing the last 10% of gains. As Buffett said:

“Be fearful when others are greedy.”

Even though the upside might still be tempting, don’t forget why you’re here — to realize profits. And when no one’s talking about corrections, that’s when they’re most likely to happen.

So for this final parabolic move, I wish you calm, rational thinking, and the biggest profits possible.