I started comparing the dotcom crash and 2014 crash.
If I compare it with the dotcom crash then it looks like bottom is here, if i compare it to the 2014 crash, we might have hit the bottom too... 2014 was more steeper in angle movements than 2018, the thing with 2018 crash, there is a lot of other factors this time in effect. CME on other hand has a big part in the price movement this time, which is controlling the previous steep movements, also if BTC market cap would drop below 100B CME would de-list and halt all BTC trading which would cost them billions....
I know some people here will ask, but it dropped below 100B on Sunday, my answer to that would probably be since Sunday is no trading day for CME I would consider that day as a loop hole, but we did notice BTC quickly recover.
I would love to hear other Ideas, or theories and bottom targets with good details.
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Quick update Regarding CME statement:
I have to apologize after researching more into the CME hi/lo limit, I found out that is the day limit, and it changes every EOD.
20% limit for hi/lo circuit breaker event limits are 7390 / 4930 for the month of June.
Where did you hear this information regarding a delisting of BTC from CME with a drop below 100B? Can you provide a source?
H3H
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@cryptocowboy2030,
cmegroup.com/trading/equity-index/us-index/bitcoin.html Check out hi low limit for month of June. Below that limit would cause a circuit breaker event, putting a halt on btc futures trading until it come back to its level, but If we go above we also have the same effect, so in conclusion for June to have a close price below that price would mean below 100b. But if by end of month we see bitcoin suddenly go up... the limits increase for the next month depending the amount of the end of month price was.
Google circuit breaker events and what happens.
algocowboy2030
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@awgal, Ah, I see. I remember reading about circuit breaker events before. I'll look into this. Thank you!
H3H
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@cryptocowboy2030, I have to apologize... I started researching more into CME last night I found out that is the day limit, and it changes every EOD.
20% limit for hi/lo circuit breaker event limits are 7390 / 4930 for the month of june.
the 100B limit seems like it was just rumors.
ankhramsiswmriimn
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Interesting theory, something definitely to add to my arsenal, many thanks awgal!