When is the end of the bear market?, how low will we go?
The Bitcoin craze has long been compared to the dot com bubble. This line chart outlines the relative comparison between the two.
when the historical Nasdaq chart is placed on the same relative level as Bitcoin, the support/resistance levels 3,10,20 & 30k become visible on the relative Nasdaq chart.
This chart gives a sense of where the market might be going in the next few months. And it can give a few glues where the market might reverse.
The time frame seems to be too long.This market is more dynamic
BloomTrader
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@Exess17, Yes, I totally agree with you on that. I did not change the data I copied, but you can leave the '2008 financial crisis' out of the equation :)
>subtract 6-8 months from the chart above.
Bullion_Money
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It took yrs of govt intervention to bring nasdaq to those levels. What does btc have? At a minimum also wait trs not months
themaniac3010
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The market are too different to compare their bear markets and draw conclusions. I.e. the comparatively quick reversel of the Nasdaq is due to the Fed reacting with lowering interest rates and after 2008 QE1 to bring liquidity back into markets. We don't have this kind of monetary interference when it comes to Bitcoin because most institutional investors who benefit from them are still not involved with cryptocurrencies. When they come into the market this might change.
themaniac3010
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@themaniac3010, better to draw conclusions by comparing the 2018 chart to 2014 although I think the movements now are much faster. This bear market won't last quite as long as the last one did.
BloomTrader
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@themaniac3010, I agree with you that there are many factors at play that contribute to a certain development. Nevertheless, you can conclude that many asset bubbles develop in a similar way. The Nasdaq was special because of the fact that the dot-com hyperwave was a smaller bubble inside a bigger bubble that today still persists.
As you can see, the white trend line (Hyperwave phase 2) was very decisive as support.
As the Nasdaq was a gauge for an entire industry, Bitcoin is, in a way, too.
For information about the Hyperwave theory, you can search on Youtube for 'Tyler Jenks' and his 'Hyperwave' YouTube channel.