Bitcoin is the most volatile asset class and it is only natural to see major pullbacks. The recent down move from 20K -> 6K is the longest one since 2015, for the overall parabloic trend to continue this correction should be steeper and shorter than the correction in 2014/15. Fundamentally, the pullback is partly fueled by governments in order to regulate crypto. This is positive for the longer run.
As for me I am patiently waiting to see a newer parabolic trend to begin.
i like it......... makes sense. thank you for sharing
nerophon
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Cool graph. It's funny to see parabolas drawn on a logarithmic scale axis. The whole point of switching to log scale is so that you can draw straight lines while still describing exponential moves. So what does it mean when the best fit on a log scale is still a curve? I presume it means that the market is trending to targets faster than e^x. I don't have anything more to say about that, but someone trying to model the growth/decay might care.
saurabhbansal123
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@nerophon, Not that just means the growth is faster than k*e^x , the slope just keeps on increasing.
monguilhot
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I funny how people can find "hope" everywhere... lol
saurabhbansal123
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@monguilhot, Not trying to find any hope. I am neutral about BTC and buying the dips for the long term but the point being, for bitcoin to continue its long term parabolic trend, the corrections have to be shorter.