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RE: BTC- What does this chart look like to you?
Looks like a dead cat bounce is/will happen followed by further decline and then churn for about 6 months to 1 year before the next bull run begins.
Looks like a dead cat bounce is/will happen followed by further decline and then churn for about 6 months to 1 year before the next bull run begins.
Very possible and very similar to what happened in 2014-2015.
In reality, what happened in 2014-2015 was the same thing that had happened during all previous hype cycles in BTC's history. The timescale was just elongated due to the sheer volume of coins needing to change hands to re-establish a value baseline.
The cycle will likely continue to repeat until it doesn't, and the timescales between hype cycles will grow (even gold follows this same pattern). I don't see any fundamental change in BTC's value growth rate, userbase continues to expand (most of the rest is just noise).
I will buy more if and when the price gets low enough... when I feel we are close to the churning phase. I could be wrong, but I don't think we are there yet.
The Alt market is even more volatile, and the total market movements via BTC will drag a number of alts down further. STEEM included (even if Steemit inc gets their ducks in a row, and other development teams push forward and drive value).
Just gotta wait for the natural course of things to run. :)
Good comment! Though there doesn't appear to be a linear increase in time between hype cycles, at least not from looking at the chart dating back to inception. I do agree though that this one may take some time before another hype cycle can begin due mostly to the height it went to and the amount of money lost on the way down.