It’s hard to be optimistic when Polis has dropped ~87.89% since the top at Sept. 4th 2021, with little chart history and lots of fear in the market. So why would anyone in their right mind be optimistic?
First let’s take a look at the overall sentiment of the market.
According to the Crypto Fear & Greed Index (1 year) we can we see that we had EXTREME FEAR from May 15- July 23 & EXTREME GREED from Oct 5th -Nov 15th. But what was happening during those times?
The charts speak for themselves, unfortunately the retail investor is consistently wrong, when we are in extreme fear the market tends to go up, when we feel extreme greed markets tend to go back down.
Now we can say that every time we buy a POLIS it just keeps going down. Seems like a bad investment. However, the broader perspective shows that more than 90% of the Alt Coins have been dropping. Due to bitcoin’s recent crash. I believe that the Bitcoins Cycle has ended and 69k was the top, but that brings optimism for the alt coin market, why?
After bitcoin reached its top in 2018 it fell ~40%, then on its A,B,C retracement the Altcoins outperformed bitcoin, like we can see in this chart. Why am I talking about the altcoins and Bitcoin? Polis has been reacting just like the rest of the altcoins, which means that we should expect Polis to also go up with the rest of the market. So when moon? Charts don’t tell time but we can still stay positive knowing that there’s still hope for our baby POLIS.
Note: i believe we are in the green box zone.