I believe too many people are not stepping back and looking at the bigger picture. Even the bears I follow have toned down their negativity (i try to follow bulls and bears in equal measure).
25 X gains in 1 year preceding the $20,000 top are incredible. Hysteria from you-tubers, bloggers, etc has reached an higher high than bitcoin. When every dog on the street knows its time to buy bitcoin ...
There will be lots of opportunities to make money during this correction, so it is not all negative, but be careful trading in a downward market.
Crypto patterns love to repeat, so lets see if this is a repeat of a previous pattern. I will post the large rise from 2013 in my next update as I believe it may repeat.
If bitcoin drops to these levels, most alt-coins will be in for an even bigger correction.
I just like drawing lines, what do I know, no more than you do.
25 X gains in 1 year preceding the $20,000 top are incredible. Hysteria from you-tubers, bloggers, etc has reached an higher high than bitcoin. When every dog on the street knows its time to buy bitcoin ...
There will be lots of opportunities to make money during this correction, so it is not all negative, but be careful trading in a downward market.
Crypto patterns love to repeat, so lets see if this is a repeat of a previous pattern. I will post the large rise from 2013 in my next update as I believe it may repeat.
If bitcoin drops to these levels, most alt-coins will be in for an even bigger correction.
I just like drawing lines, what do I know, no more than you do.
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2013 correction
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I still believe that this bubble will correct towards the start of wave 4. My timelines for the A wave was too short in my original drawing, and my B wave was too high. If the overheated American stock markets corrects towards the end of the year, we could see a correction far lower than wave 4.