Greetings people,
I wanted to talk a little bit about the historical price of BTC, and share some of my opinions about the future prices of BTC and why I think that there is a high possibility that this triangle everyone is talking about could be totally meaningless. When you look at the historical graph of BTC, you can see that there is no point in comparing magnitudes of crashes. As a young asset, BTC was and is still extremely volatile.
The price and the price movements can be comprehended in many different ways, but we can see the correlation between volatility and the age of an asset.
Older the asset, less aggressive and volatile moves are, and consolidation periods lasts longer.
In December and January when people realized that BTC is probably going to crash again, everyone talked about the cycles of the bubbles and crashes.
There were two possible scenarios:
1. Drop so hard that everyone would leave the market, and then a long period of CONSOLIDATION
2. Long bear market with even longer CONSOLIDATION with less and less volume and volatility
So what can we expect next? As you can see there is a lot of room to fall, but I doubt that will happen without a massive trigger. Events in 2014 were catastrophic and BTC is way more mature since then.
As much as there is room to fall, there is also a lot of space for consolidation. The price could behave like this for another year and that is still not a guarantee that we have exited Neutral Market phase.
This range requires a lot of patience and experience to trade it accordingly, and even the best traders are avoiding it. Suck all the volume and volatility out of the market and people lose interest, they move on other assets.
That's exactly what's happening not only with BTC but also with a lot of other coins in Crypto Space.
Until the price reaches 7400$ and breaks it we are only about to hope that the bull is starting. For complete confirmation of a new bull phase, 8400$ is an area to watch.
Trade safe and smart!
I wanted to talk a little bit about the historical price of BTC, and share some of my opinions about the future prices of BTC and why I think that there is a high possibility that this triangle everyone is talking about could be totally meaningless. When you look at the historical graph of BTC, you can see that there is no point in comparing magnitudes of crashes. As a young asset, BTC was and is still extremely volatile.
The price and the price movements can be comprehended in many different ways, but we can see the correlation between volatility and the age of an asset.
Older the asset, less aggressive and volatile moves are, and consolidation periods lasts longer.
In December and January when people realized that BTC is probably going to crash again, everyone talked about the cycles of the bubbles and crashes.
There were two possible scenarios:
1. Drop so hard that everyone would leave the market, and then a long period of CONSOLIDATION
2. Long bear market with even longer CONSOLIDATION with less and less volume and volatility
So what can we expect next? As you can see there is a lot of room to fall, but I doubt that will happen without a massive trigger. Events in 2014 were catastrophic and BTC is way more mature since then.
As much as there is room to fall, there is also a lot of space for consolidation. The price could behave like this for another year and that is still not a guarantee that we have exited Neutral Market phase.
This range requires a lot of patience and experience to trade it accordingly, and even the best traders are avoiding it. Suck all the volume and volatility out of the market and people lose interest, they move on other assets.
That's exactly what's happening not only with BTC but also with a lot of other coins in Crypto Space.
Until the price reaches 7400$ and breaks it we are only about to hope that the bull is starting. For complete confirmation of a new bull phase, 8400$ is an area to watch.
Trade safe and smart!