After two full months of strong uptrend Bitcoin’s bullish behaviour has started to weaken.
My personal opinion is that we are overdue a deep correction. I am calling for a ~35% decline taking the asset to the ~$5,000 area by the end of the year.
In panel 1 and 2 we have the linear and log fractal describing this. For further discussion please visit the following projections:
Logged-recovery-pattern-5500-before-year-end
Logged-recovery-pattern-One-peg-lower
Logged-recovery-pattern-3000-before-year-end
This-is-Why-I-ve-Been-Long-in-Bitcoin-But-Not-Bullish
In panel 3 and 4 we have a different linear and log fractal described by a number of other traders on this forum. These fractals make enticing graphs and are suggestive of a value that could soar well beyond 100k by q4 2020.
These graphs fit nicely on a logarithmic curve but when these figures are plotted in a linear manner the outcome seems implausible if not impossible. These are the events that need to take place in order for their projection to be true:
• Bitcoin will have a net capital inflow of 13X by August 2020. That’s its total market cap at present coming in every month for the next 13 months.
• In little over a year Bitcoin will grow to $1,835,690,924,886 or $1.8 trillion. This would need to take place in climate of global economic uncertainty.
• Bitcoin will have a larger market capitalisation that Apple and Google.
• Bitcoin will surpass U.S. currency in circulation ($1.2 trillion)
• To achieve 100k by year end 2020 Bitcoin will need to progress consistently along an 80 degree growth slope.
• This would require the early investors of Bitcoin (Barry Silbert, Tim Draper, Tyler and Cameron Winklevoss, Charlie Sherem, Jihan Wu, Micree Zhan, FBI, Satoshi Nakamoto) to hold hundreds of billions of dollars of Bitcoin without divesting. If they divested, the addition of equivalent capital would be required to hold up the market capitalisation.
NOT GOING TO HAPPEN!
My personal opinion is that we are overdue a deep correction. I am calling for a ~35% decline taking the asset to the ~$5,000 area by the end of the year.
In panel 1 and 2 we have the linear and log fractal describing this. For further discussion please visit the following projections:
Logged-recovery-pattern-5500-before-year-end
Logged-recovery-pattern-One-peg-lower
Logged-recovery-pattern-3000-before-year-end
This-is-Why-I-ve-Been-Long-in-Bitcoin-But-Not-Bullish
In panel 3 and 4 we have a different linear and log fractal described by a number of other traders on this forum. These fractals make enticing graphs and are suggestive of a value that could soar well beyond 100k by q4 2020.
These graphs fit nicely on a logarithmic curve but when these figures are plotted in a linear manner the outcome seems implausible if not impossible. These are the events that need to take place in order for their projection to be true:
• Bitcoin will have a net capital inflow of 13X by August 2020. That’s its total market cap at present coming in every month for the next 13 months.
• In little over a year Bitcoin will grow to $1,835,690,924,886 or $1.8 trillion. This would need to take place in climate of global economic uncertainty.
• Bitcoin will have a larger market capitalisation that Apple and Google.
• Bitcoin will surpass U.S. currency in circulation ($1.2 trillion)
• To achieve 100k by year end 2020 Bitcoin will need to progress consistently along an 80 degree growth slope.
• This would require the early investors of Bitcoin (Barry Silbert, Tim Draper, Tyler and Cameron Winklevoss, Charlie Sherem, Jihan Wu, Micree Zhan, FBI, Satoshi Nakamoto) to hold hundreds of billions of dollars of Bitcoin without divesting. If they divested, the addition of equivalent capital would be required to hold up the market capitalisation.
NOT GOING TO HAPPEN!
