Visualizing All Horrific Bitcoin Crashes
This is a chart outlining all of Bitcoin's most serious crashes in terms of % loss. This chart helps to put things into perspective. Bitcoin's largest "crash" before its most recent one was from Nov 30th 2013 to Jan 14th 2015 (411 days). The question is can you really call a movement like that a crash or is it more of a correction?
I believe that it was a correction. Just before that 411 correction period Bitcoin hit it's first major all time high making it to a 4 digit value for the first time ever showing potential to compete with the price of gold in terms of per unit value. Without a large enough following to maintain a price spike like that Bitcoin fell into a long winded correctional period.
The correction that we experienced over the last few months was almost as large of a % loss but happened much faster. This could be due to market manipulation and the increased number of investors who have been holding onto Bitcoin without a real understanding of the benefits of the technology behind it. In other words the market was filled with weak hands.
The good thing about this theory is that the weak hands have left the market and may or may not be waiting to enter the market again so the FUDing at this point will have little to no affect on Bitcoin's price. That's right my personal feeling is that Febuary 6th Bitcoin low is the lowest we will go for the foreseeable future.
This chart was posted in our Discord trading group by Wael our expert technical analyst. He says that we need to wait to make sure that the BTC price begins trading above the Ichimoku cloud (red cloud in background) to get confirmation that we are back into a bull market.
Keep and eye on Bitcoin's price. If it makes it above $13k Then the next move could be straight to the moon. Join the Crypto10x trading group here and subscribe to the Crypto10x Youtube channel here to keep up to date with our calls and get access to instructional video. And of course don't forget to Up-vote, Re-steem and Follow me here on Steemit.
Very informative, thank you.
I help out anyway that I can.
This helps put things in perspective. 70% pull back in BTC is like a 7% pull back in stocks! 😂 Nothing to worries about here. Get ready for more fireworks!! Thanks for the post!
Yeah buddy. Ride the wave. Bitcoin is a roller coaster you just need to have the stomach to stay on the ride!
Definitely watching closely, this move is taking it's time to play out :-)
Yeah the tension is nail biting.... I am very optimistic though.
I think this is going to be the year of the Crypto. It cracks me up that, even when people freak out after these crashes, BTC is still up like a thousand percent from the year prior. HODDDDDDDDDLLLLLLLL.....
I agree. Investing in Bitcoin and Cryptocurrencies is a long term game. Even if you buy at $11.5k today and its next move is downwards, by this time next month it will be up again. That correction was only temporary and it looks like it may be completely over.
Elite.Skeete deff knows what hes talking about. The Main Guy
Look who's talking! You're the one with the TA expertise!
Thanks for the compliment though I'll take it.
I’m cautiously optimistic about this! All we need is a couple more weeks without FUD to gain momentum! Crypto is like a rollercoaster 😂
Very true bitcoin is testing support right now then hopefully it will go right back up!
This is very informative. I am going to compare this to my Z-signal 1 year indicator report and see if there is a corilation.
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