Bitcoin 2013 versus 2018.... A story of two Bubbles
Bitcoin in late 2017 burned up the charts in a parabolic rise. It seemed without precedent and was the immediate darling of the media with calls for a $50k usd Bitcoin. Now that the opposite has occurred and Bitcoin has corrected over 70%. The future of Bitcoin is hanging in the balance, discussed around the world everyday by thirsty traders, hopeful anacarchists and tech celebrities alike. What are the answers? What is the future of this seemingly unprecedented event?
Simple Technical Chart Analysis on Bitcoin would have revealed that the huge pump was not without precedent. Enter 2013: A very similar parabolic rise and correction. Examine the similarities of the two charts.
Bitcoin 2013
Looks very very much like Bitcoin 2018
I expect a long period of accumulation, general downtrend and a long period of consolidation. Then, in true bitcoin fashion, a parabolic rise to new heights.
This is meant for entertainment and informative purposes. I'm not a financial advisor and this isn't financial advise.
It took over 6 months in 2013 for it to even hit that first low, this time it was only 45 days.
very true. this gives me hope the years of stagnant trade after 2013 will only be months now.
In this way we can say this correction is around 4x as fast. Thank you for your response I love community and the many thoughts and ideas that we can all share. Blessings
Yes I appreciate the community very much. We can all contribute our unique perspectives and make stronger moves together. Thanks brother
This comparison actually gives me hope that the bear cycle is over! I wish you had dates on the 2013 chart but it very similar except 2018 is much more compact and faster due to higher liquidity. The proximity of this low relative to the 70% drop fits in well to the beginning of the rise in 13. Wishing you blessings
Yes, everything is happening faster this time around, meaning, hopefully a faster turn to the upside. Thank you, same unto you
2018 is not 2014 but the mechanics at work are similar you are right.