Is Bitcoin trend mimicking 2014?
BTC price reached all time high (ATH) in mid December 2017 and has been almost halved since then. Is this a healthy correction or bear market?
Maybe history can give us a hint. BTC was bullish from the end of 2011 until the end of 2013, followed by a bear market with a bottom in the beginning of 2015 and consolidated to the end of 2015. Then it rised up and reached ATH at the end of 2017. These are cycles of 2-year interval, probably due to the number of BTC generated per block decrease 50% about every four years. Then what may happen next?
In the above 2014 price chart, correction Wave A had ABCDE pattern, then a bounce back as Wave B which doubled the price, and followed by Wave C correction.
At this moment BTC price looks like is at subwave D of correction Wave A. If fractal plays and history repeats itself, we probably have already entered bear market and the price may reach the bottom in the beginning of 2019.
Disclaimer: This is just my personal opinion, but not financial advice or recommendation.
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