RiskPays

Bitcoin 2014 Cycle Vs 2018 Prediction

Long
BITFINEX:BTCUSD   Bitcoin

Comparison

Comparing 2014 collapse with 2018 we can see scarily similar patterns.

The amount of time for the parabolic run (start to finish) was 469 days in 2014.
We're approximately 434 days into the 2018 run-up and breakdown.

Volume

Volumes are not comparable because altcoins did not exist back in 2014. Today most alts begin life trading in BTC pairs giving this swollen volume.

The start and end of the 2015 consolidation / accumulation displayed very large spikes in volume.

Candles

During the consolidation the candles tightened up and nothing interesting happened until the consolidation box broke out.

What's Next?

We now need to see a sideways channel develop.
(purple rectangle in the 2014 chart)

Prediction

My bottom is $3200. I expect the price to stagnate between $3200-6000usd for most of 2019. This 88% price fluctuation would match the 2014 pattern.

Fundamentals

Fundamentally we are in a much stronger position now because adoption has begun, in 2014 people were excited just to hear about bitcoin on the radio, the term "Crypto" didn't even exist. Mining was a leisure back then and ICOs were a pipe dream. The idea of a national backed cryptocurrency was incomprehensible.

The delaying of Bakkt is enabling whales to suppress the price. Don't take any of this personally, it's how these guys play. World recession in 2019 will panic people back into Crypto and the cycle will repeat itself.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.