everybody wants to know if Bitcoin is going down to $2000

in #bitcoin4 years ago

Short answer: Maybe, but I doubt it.

I look for signs on the long term logarithmic chart of all cryptocurrencies:

As I've said for a very long time, the current correction beginning at the start of 2018 appears to be a U-shaped one. For the past few months, we've been forming the bottom of the U, and I believe the low we saw at Christmastime may have been the bottom.

So I'm expecting a slow and sideways recovery for a while. I'm surprised cryptos are as cheap as they are, to be honest! The "bitcoin is dead" mantra got pretty wild there for a while, and hasn't fully gone away. People are slow to spot trends, but when they finally do, we can get blowoff tops and bottoms that defy logic.

So, yes, there could be another low. $2000 on the bitcoin chart? Sure, possible. But I'm going to say "unlikely", in my completely unprofessional opinion!

Copy-pasting the 2015/6 recovery onto the chart gives this potential future:

History doesn't always repeat perfectly, but sometimes it rhymes! There are reasons I correctly predicted almost everything about the current bitcoin chart years ago, time and time again. One is because the bitcoin chart rhymes well - better than any other chart I've ever closely listened to.

DRutter

drutter steemit banner.jpg

Sort:  

Ohh ... $65 Bitcoin :)

Edit: Sponsoring you for 10 SBI shares. Keep up the good work.

Hahah yes, the chart says so... if it continues down the way it has been going, it will now fall from $3300 to$65 in less than a year! ;)
Thanks for your support!

No I mean the video you made back in 2013 bitcoin was $65 .... man to know about bitcoin then ... drools

Loading...

Congratulations @drutter! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You got more than 2500 replies. Your next target is to reach 2750 replies.

Click here to view your Board
If you no longer want to receive notifications, reply to this comment with the word STOP

Support SteemitBoard's project! Vote for its witness and get one more award!