- 18% drop recently has caused many people into panic. - The feeling from 69k drop to 55k is not so nice. - But Bitcoin will get to 200k don't worry. - It's time to stay back a little bit and see what the lesson should be learnt from here. 200k is in play. - The first wave of this bull-run fuelled by Covid 2020 crash. The parabolic curve was so similar to the first wave of 2013-2014 bull-run (BTC went from $2 to $246 =123x). It was definitely oversold. And the retracement was as brutal as the pump (BTC dumped from $246 to $40 approx -80%, imagine that if you invested $10,000 at this local top and sold at $40 bottom you got $1,600 left). After that BTC went from $40 to $1,200 another 30x). - As I draw the curve above, I believe the second wave of current bull-run is going to be insane (which is only 4x from here but in term of market capitalization and altcoins, OMG). - The 2017 bull-run seems to be mild than this one (only 1 parabolic curve only), - So hold your BTC and altcoins tight for this rollercoaster.
Question. Why in the 1st cycle the measurement is $32.07 to $2.07?
Hai10Year
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@nsprph, In February of 2011, BTC reached $1.00, achieving parity with the U.S. dollar for the first time. Months later, the price of BTC reached $10 and then quickly soared to $30 on the Mt. Gox exchange. Bitcoin had risen 100x from the year’s starting price of about $0.30.
SDlektric
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Hopium Chart
Hai10Year
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In 2009 to be exact, I was watching TV news with my parents and the Bitcoin news came up: - I remember it vividly 'cause it's the first time hit $1 USD and the news referred as "tien ao" means "fake money". I laughed inside how stupid these people were to invest into "tien ao". - At that time, I was in 9th grade and completely brainwashed by our govts.