Birds of a Feather Flock Together?
#198 Exploring J.M. Hurst's Synchronicity of Cycles Theory on Cryptocurrencies
Introduction
While I was working on an update on cryptocurrencies for our premium subscribers yesterday, the value of all cryptocurrencies dropped significantly. J.M. Hurst's theory of the synchronicity of cycles suggests that this simultaneous decline in various cryptocurrencies may be linked to interconnected cycles or the principle of commonality in cycles, potentially contributing to this collective drop.
According to this theory, highs or lows may occur nearly simultaneously in many different issues. In stocks, we often see the various cycles dropping into a trough (low), and commodities may often synchronize into a peak (high).
This raises the intriguing possibility that seemingly independent events in the cryptocurrency market might be connected through underlying cyclical patterns. Understanding in advance where cycles may synchronize collectively into a trough (low) or crest (high) is key to understanding the cycle dynamics in any market, including the cryptocurrency market,
Today's cryptocurrency update (in pdf format - 15 pages) for our premium subscribers includes an analysis of the eight most important cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Solana (SOL), Cardano (ADA), Litecoin (LTC), Ripple (XRP), and Dogecoin (DOGE).
I'll be focusing on their dominant cycles and providing insights into what to expect in terms of price and time in the near term from a Gann perspective. Understanding the cycle harmonics in cryptocurrencies could provide valuable insights for investors navigating the cryptocurrency market.