Where Are We In The Bitcoin Cycle? + UpBit $49 Million Hack





Hackers managed to steal 342,000 ETH from Korean crypto exchange UpBit. It’s the 7th major crypto hack this year alone. Security is an issue that needs to be fixed in the years to come.

Where are we currently in the Bitcoin cycle? I think the 6 months of correction are coming to an end and we’re set up to end the year at around $9,100 per BTC. In a macro view we currently retested the multicycle support line.

It seems to always repeat itself: accumulation, breakout, retest, distribution. We’re currently in the retest phase, which will be followed by another breakout and major bull cycle.

Altcoin setups are looking great. Looks like altseason is already in progress and now it’s waiting for many alts to pop simultaneously.

not financial advice.

#bitcoin #cryptocurrencies #upbit

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