As you can see, bitcoin is following the pattern of 2011, early 2013, late 2013, late 2017 and early 2018 .
In early 2018 We have witnessed the 4th official “bitcoin bubble” and then you can see it is following the same pattern of 2013.
As of today, the price of one bitcoin is about $6,700.
Here are four things you need to know to be prepared for this rare and exciting phenomenon.
Every time the price of bitcoin really takes off, it sets a new record for all-time high.
Past performance is not an indicator of future performance, but on each occasion that bitcoin entered a mania, the price increased tenfold before the action was over. That means that the next bubble will definatly cross $30,000 per bitcoin.When the mainstream media gets involved, we’re near the top. Be careful at this stage. Many people will try and get in for fear of missing out, but this is the most dangerous time to invest in bitcoin. As we have witness this stage in end of 2017.
You won’t know we’ve hit the peak until at least a month after it’s happened.
After the top, there will be steep declines and heavy volatility. Because of this, there will be several moments when it seems like bitcoin will take off again on another improbable leg upwards. Only once a downtrend is firmly established will it be clear that the crazy times are over.Bitcoin will be called dead after the top, but it won’t be dead, and will settle at a price higher than the previous bubble’s top.
If we take history:
==> The first bubble peaked at about $30 and then dropped to $3.
==> The second bubble rose to $260, before crashing back to $70, or more than twice the peak of the previous bubble.
==> The third bubble went up to $1,200 before a dramatic crash all the way down to $170. At that point, a lot of people thought bitcoin was a failed experiment, but the price soon leveled off at $260 (the same as the previous bubble's peak) and continued to grow.
==> The fourth bubble went up to $20,000 and then dropped to $6000 recently.
With the great speed at which the bitcoin price has been decresed recently, there is a good chance that we are at the point of the next great bubble. And if history is any guide to the future, it's very possible the price will end up back around the highest thousands.
With these four things in mind, you should be better prepared for another bitcoin bubble. So enjoy the show, and remember to never invest more than you can afford to lose. If you do invest, keep in mind that the best strategies to benefit from long-term upwards trends amidst heavy volatility are dollar-cost averaging, and to simply “buy and hold.”
Even those who bought bitcoin at the peak of the last bubble when bitcoin was $20,000 will be sitting on healthy profits in future... as long as they remained patient and held their coins.
Always remember "don’t panic!"
Thank you,
Priyank
Hey, Do you think its worth it to HODL Bitcoin at the moment? Followed you too
Yes, at 6000 we have a very good support level. it will not cross that level.
It will cross 8000$
Hey, welcome Mr. Navratan.
Hope it will cross soon. this month.
Do you do leverage trading ??
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://steemit.com/bitcoin/@sassal/four-things-to-know-about-bitcoin-bubbles