The Bear Market in BTCUSD targets 70s by 2016/2018

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
The BTCUSD market has come down 65% in nine months and is in a secular bear market which is characterized by Cycle wave 4.

Cycle 3 lasted approximately 23 months.

Cycle 4 can be expected to last at least that long which would take us easily into 2016.

Cycle 4 can be expected to finish around previous wave 4 which was at 70s.

The first major bounce could be expected from 278 before end of 2014.

A spike to 173 cannot be ruled out before end of October.

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