BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Given the recent drop in bitcoin price many would be skeptical to buy. However that's not what traders should be doing in my opinion and here is my reasoning why: Bitcoin had reached this price level before mainstream investors heard about the explosive rise on it's price, this means people who actually knew about bitcoin fundamentals were getting on board with the rally and were thinking this price was justified. As more and more people began to hear about this currency being on a long-lasting bull market the price began to rise exponentially creating a bobble. Now with a drop of 80% bitcoin has surpassed the the mean of a bull market by a large mark. Although I don't know the standard deviation of bull markets I think it's safe to say it's at least 1 standard deviation away from the mean. Therefore Bitcoin would be in a range of which P(x) = 0.3 therefore there is a 70% probability price will begin to reverse soon, although right now the entry is quite risky and waiting for a better price is advised
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