Just me comparing the last bear market to this one. The blue arrow is where we would hit our lowest price level if this was 2015. $3500 level if we went as low as the last bear market did on the same time frame. It fell from roughly $1150 to $150 between 11/5/13 and 1/14/15. So I put the bottom of the arc at $3500 which would be about the same percentage price reversal before recovering with a date of 1/25/19. (Let me know if my math is off I think that is correct.) You can clearly see that the price falling below $200 got rejected very strongly. So if we put in a very obvious low price before the last bear markets low that would be a great indicator in my mind that things are turning around much faster, I would expect the next bull market to be more rapid to a new blow off top. Just for educational purposes, I am not an expert, this is a hobby for me. Leave me some comments let me know what you think!
Hi, why do you expect the next top to come quicker?
jsnandrsn
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@darobsta, there were many things happening back then that left the market with really bearish sentiment, the technology has developed alot. Exchanges are much more reliable, and not getting hacked as often there are really reliable exchange options now. That was the first major hack that kicked off the last bear market, people got pretty scared of bitcoin or a while, it was really new then and no one knew if it would make it another year. But clearly it pulled through, guess you can say bitcoin has been through much tougher times already and made it to the other side. There are many many more people interested in the technology now and many people are still on the sidelines just looking for a good time to pile in again, I would guess that the curve could be pretty steep once we find the bottom again. I believe it is rational to expect the time frames to speed up, for the chart to pick a price direction more quickly this time around. There has been alot of positive news, but people are still scared because it had such a tremendous sell off from $20,000 that is devastating if you bought on the way up, it will take some time for people to recover from that.
darobsta
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@jsnandrsn, Hi. thanks for your explanation. I am thinking it will take longer this time to moon.