Starting with 2014 on the logarithmic chart we can see the cycles BTC had from DUMP to DUMP.
The cycle is getting shorter starting with March 2017. If we measure from the starting of the movement till the bottom we see that at the moment the drop is ~41%. Although the last drops were around ~32.9% average this time we surpassed this with ease, but still we are not near the drop levels we can see in August - September 2015 - 46.75% or January 2015 - 45.24%. We could actually see another mini drop here.
I believe this time the fall was accentuated by more FUD than usual and also by the euphoria in Q3 and Q4 that pushed bitcoin higher than it was needed. Bitcoin and Crypto are becoming mainstream, this means more click bait and less good information that you can base your decisions on. Yesterday was like the pinnacle of this.
Also when a glimpse of hope appeared wave 2 of bad news appeared. Bitconect fall. Some of us understand that it was a ponzi since the beginning but a lot of uneducated people are losing faith fast in crypto because them, or their friends, lost their money in the Bitconnect fiasco.
I believe last night CNBC was actually recommending Tether as a good investment. You can say what you want about Tethers. I believe they are beautifully ugly but they come and will come to save the day until parts of this ecosystem or all of it will be regulated and mass adoption will be here. Everybody should freak out if tether.to is raided and closed. We will probably see a 60-70% drop in 30 minutes or 1 hour.
More will follow and as the market goes through it’s almost natural cycle more news well synchronize with it’s BHLD Pattern. Peter Brandt has a great chart on this pattern twitter.com/PeterLBr...s/953270160726491136
We need less scams, more good UX and technology to make this fly more securely. Also every time you feel this technology is a bubble, never forget Facebook is worth 518 billions :)
The cycle is getting shorter starting with March 2017. If we measure from the starting of the movement till the bottom we see that at the moment the drop is ~41%. Although the last drops were around ~32.9% average this time we surpassed this with ease, but still we are not near the drop levels we can see in August - September 2015 - 46.75% or January 2015 - 45.24%. We could actually see another mini drop here.
I believe this time the fall was accentuated by more FUD than usual and also by the euphoria in Q3 and Q4 that pushed bitcoin higher than it was needed. Bitcoin and Crypto are becoming mainstream, this means more click bait and less good information that you can base your decisions on. Yesterday was like the pinnacle of this.
Also when a glimpse of hope appeared wave 2 of bad news appeared. Bitconect fall. Some of us understand that it was a ponzi since the beginning but a lot of uneducated people are losing faith fast in crypto because them, or their friends, lost their money in the Bitconnect fiasco.
I believe last night CNBC was actually recommending Tether as a good investment. You can say what you want about Tethers. I believe they are beautifully ugly but they come and will come to save the day until parts of this ecosystem or all of it will be regulated and mass adoption will be here. Everybody should freak out if tether.to is raided and closed. We will probably see a 60-70% drop in 30 minutes or 1 hour.
More will follow and as the market goes through it’s almost natural cycle more news well synchronize with it’s BHLD Pattern. Peter Brandt has a great chart on this pattern twitter.com/PeterLBr...s/953270160726491136
We need less scams, more good UX and technology to make this fly more securely. Also every time you feel this technology is a bubble, never forget Facebook is worth 518 billions :)