joe2411

88Fib = 88% Total market cap = $80Million?? Is it possible?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
As an investor if crypto myself and more recent analysis for potential entry points on the new bull cycle i had been noticing alot of my analysis targeting the 88 fib retracements. im quite surprised to see the market retrace so far but then again this is volatile crypto. as i was conducting my analysis the thought crossed my mind, what if the total market cap also reduced by 88% from its peak? wouldnt that be approx 80mil? Currently we sitting around 350mil. what would the market look like if total market cap reduced to 80mil? is it possible? does it makes sense to happen? at thus stage it doesnt make sense to me however if across the crypo market coins reduce to 88fib, shouldnt market cap also match? im hoping this doesnt happen bht we should also be aware of the other side of the equation. i mean an 88fib retracement across the board would provide some absolute awesome entries however what would appear like the end of crypto at that stage? Like to know any thoughts on the subject and if any . i am totally bullish across the crypto market hiwever im also looking at the current cycle unbiased and trying to see where/how far this bear cycle extremes can really go to.
Mar 28
Comment: was hoping this theory wouldnt be right but its been 3 days since and we already down to 289million. hmmmm... will 80billion be real?
dude.. we are sitting at 330 billion...
+1 Reply
joe2411 JoshuaVanier
@JoshuaVanier, yeah i realise i type million instead of billion. should be billion
Reply
Great insight, thanks for sharing
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