Lets look at the Bitcoin and S&P500 from Feb 2016 to today May 2020.
Fibonacci Timezone is marked in Blue.
Looks like Feb 2016 was the start of the Great Bull Run for both Bitcoin and Stock Market.
BITCOIN 02/2016 - 11/2017
671days
5300% gain
Retracement to 0.23 Fib ( $3100 zone )
S&P 02/2016 - 02/2020
1467 days
5300% gain
If the same as in Bitcoin, Estimated Retracement 0.23 Fib ( $2100 zone) .
BTC wave Curvy is marked in orange.
Wave up 2/16 - 11/17 (21month)
Wave down 11/17- 11/20 (36month)
Wave time cycle ratio: 21/36 (0.58)
S&P wave Curvy is marked in orange.
Wave up 2/2016 - 2/2020 (48 month)
Estimated wave down 2/20 20- 11/2020 (9month)
Estimated wave time cycle ratio: 48/9 (5.33)
After comparing the numbers
We notice that Bitcoin gained ATH faster and retraced slower than S&P500.
Keep in mind the correction can continue unfolding.
This analysis assumes we are in BULL MODE ON MONTHLY.
Fibonacci Timezone is marked in Blue.
Looks like Feb 2016 was the start of the Great Bull Run for both Bitcoin and Stock Market.
BITCOIN 02/2016 - 11/2017
671days
5300% gain
Retracement to 0.23 Fib ( $3100 zone )
S&P 02/2016 - 02/2020
1467 days
5300% gain
If the same as in Bitcoin, Estimated Retracement 0.23 Fib ( $2100 zone) .
BTC wave Curvy is marked in orange.
Wave up 2/16 - 11/17 (21month)
Wave down 11/17- 11/20 (36month)
Wave time cycle ratio: 21/36 (0.58)
S&P wave Curvy is marked in orange.
Wave up 2/2016 - 2/2020 (48 month)
Estimated wave down 2/20 20- 11/2020 (9month)
Estimated wave time cycle ratio: 48/9 (5.33)
After comparing the numbers
We notice that Bitcoin gained ATH faster and retraced slower than S&P500.
Keep in mind the correction can continue unfolding.
This analysis assumes we are in BULL MODE ON MONTHLY.