Has The Next Phase Of Bitcoin's Growth Started Already?
The primary reason I made this chart was to study the durations for the stages of each of Bitcoin's previous & current market cycles or phases.
These are the 2 areas marked by the bold white outline. Each phase is clearly made up of 8 stages, or rather 4 stages & their corrections. I'm going to call them:
1) The Boom
2) The Swing
3) The Dome
4) The Incline
The 3rd area marked by the bold yellow outline that is still open on it's right side, represents the current phase we are supposed to be currently trading 'in', However you will notice this current cycle has quite rapidly moved through all 8 stages, suggesting we have perhaps already passed into the the next market cycle!
If this turns out to be the case this would suggest the 'Gox Drop' marked the transition from the 'dome' stage into the 'incline' stage, technically a 'bottom'. And the recent market 'bottom' we have perhaps just put in, is equal to the transition from the 'incline' stage into a completely new phase! That would mean this current market cycle would be of the shortest duration since these cycles have established themselves.
As more & more big money is attracted to Bitcoin the likelihood that the psychology of the market is exploited by whale manipulation will only grow; Therefore I'd expect these market cycles to deviate from established norms as the cryptosphere develops. Also the timing of a rollout of Bitcoin regulation in New York by the end of the 2nd quarter of 2014, may be putting a squeeze on institutional investors & Wall St types to take up rushed positions while coin is still cheap. Thus condensing the time frames of what many consider a normal phase duration. But as I've said before only time will tell.
By the way you can click the top right share button, then click the "make it mine" button to access the interactive chart, to zoom in and see the detail.
These are the 2 areas marked by the bold white outline. Each phase is clearly made up of 8 stages, or rather 4 stages & their corrections. I'm going to call them:
1) The Boom
2) The Swing
3) The Dome
4) The Incline
The 3rd area marked by the bold yellow outline that is still open on it's right side, represents the current phase we are supposed to be currently trading 'in', However you will notice this current cycle has quite rapidly moved through all 8 stages, suggesting we have perhaps already passed into the the next market cycle!
If this turns out to be the case this would suggest the 'Gox Drop' marked the transition from the 'dome' stage into the 'incline' stage, technically a 'bottom'. And the recent market 'bottom' we have perhaps just put in, is equal to the transition from the 'incline' stage into a completely new phase! That would mean this current market cycle would be of the shortest duration since these cycles have established themselves.
As more & more big money is attracted to Bitcoin the likelihood that the psychology of the market is exploited by whale manipulation will only grow; Therefore I'd expect these market cycles to deviate from established norms as the cryptosphere develops. Also the timing of a rollout of Bitcoin regulation in New York by the end of the 2nd quarter of 2014, may be putting a squeeze on institutional investors & Wall St types to take up rushed positions while coin is still cheap. Thus condensing the time frames of what many consider a normal phase duration. But as I've said before only time will tell.
By the way you can click the top right share button, then click the "make it mine" button to access the interactive chart, to zoom in and see the detail.