2014 Bear market was because of the Mt. Gox crash which was like Fud times 100, so the recovery took especially long because Crypto was not even nearly as widespread or mainstream as it is now. But now, it's all over the news, most people have at least heard of bitcoin, banks are using blockchain, Nasdaq opening Crypto exchange, etc. The market is on the verge of a huge influx of retail and institutional money. I would bet my left *** we won't be in a bear market for 2-3 years. New ATH at Years end
"we won't be in a bear market for 2-3 years. New ATH at Years end"
.....We are CLEARLY In a bear market
So where's your left nut now? up for sale?
$4.99 plus postage and handling?
it is simpletons like you that have caused this market to be overbought by society at January's ATH's
SebastianofMoon
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I agree that this could be a very real possibility. And of course nothing happens twice exactly the same, however it is always useful to look for fractal similarities in the past, for clues of future behavior.
nerophon
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The pattern is fine, but the problem is that market cycles don't necessarily work at the same timescales over such a large span of time. For example, if you go backwards from 2014 and look for the exact same pattern but in a lower price bracket, you won't find it. Technically, it is very possible for BTC to break below the 6000 lows, but IMHO it won't have much to do with what happened in 2014.
r4nk
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pretty decent call from back in may ! ;)
kash27
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Why? Only because it looks similar to what btc did in 2014 and no other reason? A fair bit has changed in the last 4 years... The market cap and the growth of the technology for one
cryptocandid
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@kash27, This is what makes me think we may not repeat this pattern. However, this chart is just a general assumption of what will happen in a cycle.
We definitely cannot ignore the possibility of a bullish scenario. However, my bias is 55% bearish, 45% bullish.
kash27
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@cryptocandid, Oh btc is definitely bearish. There is nothing bullish about btc if you look at 240. Right now its bouncing between 8,200 and 8,800 without moving in either direction and last week it was above 9k. Right now its letting the alts run and I think it may even go up to 11k before coming all the way back to 5k. But I cant see it staying idle for the entire year and the year after
2014 Bear market was because of the Mt. Gox crash which was like Fud times 100, so the recovery took especially long because Crypto was not even nearly as widespread or mainstream as it is now. But now, it's all over the news, most people have at least heard of bitcoin, banks are using blockchain, Nasdaq opening Crypto exchange, etc. The market is on the verge of a huge influx of retail and institutional money. I would bet my left *** we won't be in a bear market for 2-3 years. New ATH at Years end