BTC 2011 vs 2017/18 bubbles

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Both bubbles have %gains in the ranges of 6000-10000%

2011 corrected -94%


"NO NO THIS TIME IT'S DIFFERENT .. SHE'S GONNA POP" aka "BITCOIN IS DEAD" or something with that sentiment .. (smiley would be usefull in the commentbox ..)
+1 Reply
Conchobhair Je_Buurman
@Je_Buurman, hehe.

@EuroMotif can we get emojis in the comments? Lol.
Zullyy Je_Buurman
@Je_Buurman, heyy heyy heyy
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I don't think you can compare patterns as Bitcoin used to have almost a 100% crypto market dominance back then. (about 55% now) I think comparing total market cap to the previous pattern makes more sense. And the last bear market only dropped about 86% and would be extremely surprised if we even hit 90% this one. Here is an image comparing the 2. I couldn't get a graph of the 2 together.
Conchobhair Weavs844
@Weavs844, Hi weaves,

Thanks, nice chart. I agree that we definitely cannot compare based on dominance now vs then. However I am sceptical when it comes to comparing to the previous bear market.

The previous bear market was the product of a significant rally made in 2013 and I am sceptical or the authenticity of this rally.
If we look at the time in which this rally occurred, we find that it occurred in November-December 2013, where it posted +500% gains in one single month. This all occurred during a time where we have clear data that shows Mt Gox was maliciously operating multiple buying algorithms that could purchase bitcoin essentially for free. Please see and view the trade log.

Thus the potential bear market in 2014-15 was merely a return-to-the-mean scenario after an artificial price run, as opposed to the speculative nature of the bubble we experienced in 2017. Thus I assume, that, the ensuing deflation of the bubble in 2018 cannot be compared to 2014-15.

Thanks for the comment Weaves, let me know what you think.
+1 Reply
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