I was curious Bitcoin's market cycle.
If this uptrend is valid current chart pattern might work. (If current price can not hold the support line of uptrend, this chart will be useless)
Since beginning of Bitcoin till now, the market had three times of bull market and three times of bear market.
Each bull market's profit percentage decreases over time.
For example,
First bull vs Second bull = 16% of first bull profit.
Second bull vs Third bull = 25% of second bull profit.
with this pattern we can guess
Third bull vs Fourth bull = 38% of third bull profit.
Like I said if Bitcoin price can hold current price range, we may expect price could hit around $275000.
Previous top price (01 Dec 2017) exactly touched 50% of the trend line. If next top will hit another 50% of the trend line, we could expect to see next top on 01 Jun 2020.
Same thing apply to bear market pattern.
Just my personal view, my target will be $275000 on around Mid 2020.
bull profit cycle:
+317900% -> 51600% -> 12800% -> 4760% (maybe?)
bear loss cycle:
-93% -> -86% -> -71% -> -55% (maybe?)
p.s. nothing too serious, this is not my final target, I approached for fun and curiosity.
If this uptrend is valid current chart pattern might work. (If current price can not hold the support line of uptrend, this chart will be useless)
Since beginning of Bitcoin till now, the market had three times of bull market and three times of bear market.
Each bull market's profit percentage decreases over time.
For example,
First bull vs Second bull = 16% of first bull profit.
Second bull vs Third bull = 25% of second bull profit.
with this pattern we can guess
Third bull vs Fourth bull = 38% of third bull profit.
Like I said if Bitcoin price can hold current price range, we may expect price could hit around $275000.
Previous top price (01 Dec 2017) exactly touched 50% of the trend line. If next top will hit another 50% of the trend line, we could expect to see next top on 01 Jun 2020.
Same thing apply to bear market pattern.
Just my personal view, my target will be $275000 on around Mid 2020.
bull profit cycle:
+317900% -> 51600% -> 12800% -> 4760% (maybe?)
bear loss cycle:
-93% -> -86% -> -71% -> -55% (maybe?)
p.s. nothing too serious, this is not my final target, I approached for fun and curiosity.