viparmenia

Parabolic pattern with possible repeat 2013 situation with -90%

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Parabolic pattern of minimum and maximum values of BTCUSD             ends with turning point at 40 000 at end of January.
If the scenario from 2013 repeats the first fall will be approximately -70% from 40 000 to 12000
But big fall could come if some "black Swan" news appear, e.g big exchange or wallet becomes insolvent and fails in bankruptcy.
The big crush could be between 240 000 and 24 000 from middle of 2018 till middle of 2019
"But big fall could come if some "black Swan" news appear, e.g big exchange or wallet becomes insolvent and fails in bankruptcy. "
Like bitfinex and the magic Tether pump heh
+4 Reply
@radi0, not only, the main player in speculation is becaming Korea, where the chinese, who have no more possibiliy to bus Bitcoin are escaped. But now Korea want to regulate crypto exchanges to at least identify who is trading there. Seems China put koreans under the pressure.

There are a lot of black money in south korea, including money from russia and north korea.

And this players are now trying to escape regulation buying bitcoin before Korea starts the regulate the market https://cointelegraph.com/news/south-korean-financial-authorities-plan-to-regulate-bitcoin-exchanges-soon

We will soon a "regulaton" wave over the all bitcoin exchanges all over the world because no any goverment could let 200 Billion Dollar market stay deregulated.
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The market is very different ho wit was in 2013, you can't compare.
+2 Reply
@f47web, sure if we ignore all before 2014 when first alternativ coins enter the market and trade volumes become reasonable, everything looks more optimistic
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Do you think it needs to retest Sep1 high of 5k since it only dipped to 5.1k on Oct18? Or does that not matter?
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erikjanssen erikjanssen
Or even 1350 from Mar11? That would fulfill the 90%
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obinex7g erikjanssen
@erikjanssen, the growth is just too fast. take profits when you are satisfied and the next deep. simple as that
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@obinex7g, that's not technical analysis
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viparmenia erikjanssen
@erikjanssen, It depends on volume of USD invested during 5k dip. There were crucial volume between at 5100 in november, which could be a potential support line more bigger support line is 3000 in September but with half of the volume and 8000 with same volume.
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