@BOMBERuss 12 October 2022

The theory of cyclical price dynamics suggests that the #cryptocurrency market goes through the same phases over and over again, which are repeated at relatively long intervals. Together they form a cycle. As soon as it ends, a new one begins. Such theories give us a sense of order and harmony, as well as a ghostly hope that we will be able to predict long-term price dynamics. The cycle theory for bitcoin is based on the classical Wall Street model, which combines the cyclical nature of traditional markets with the phases of psychological reactions of investors. The tendency of the human psyche to repeat lies at the heart of the cyclic theory. At any point in the cycle, investors are somewhere on the emotional state map from extreme fear (depression) to extreme greed (euphoria).