Huge growth in 2016 as speculative anticipation of more sales to China & other developing industrialization nations occurred. Unsupported by Fundamental & Technical support and resistance levels. Now in a sideways pattern, inevitably selling down toward a Business Bear Cycle pattern. Weekly chart view.
Following Bitcoin's aggressive selling of the past weeks that caused near 50% in losses, it is time to look at Jean-Paul Rodrigue's Stages of a Bubble.
This had to be customized on Bitcoin's state of the 2018 correction. It doesn't exactly follow the classic bubble price action as the "Fear" and "Capitulation" stages lasted longer on a downward consolidation...
chart analysis - Trend - Bear
26 out 28 three day Candles RED - 3 months non stop price is going down.
A recent rejection at Resistance which has happened multiple time consistently over last few months in a few defined descending channel
Overall Market sentiment
Unnecessary hardfork splitting chain, multiple bugs, no apps except the notoriously failed DAO...