Gday all,
Some time ago, I read an interesting article that showed how each of the BTC bubbles followed a similar well-known pattern :
https://blogs-images.forbes.com/jessecolombo/files/2014/02/stages_bubble.png
The point was, each BTC peak was way higher than the previous one - like orders of magnitude higher.
IIRC:
First peak went to a few cents,
2nd peak went to a few dollars,
3rd peak was quite a few dollars,
last peak was $20,000.
But each followed the same bubble pattern, just at different scales.
I cannot seem to find it now, hoping some knowledgeable reader can recall that specific article ?
Maybe that's why some posters predict the next peak ?
There are many such articles. Many people have noted that bubbles, whether in cryptocurrencies, stocks, or houses, follow a similar pattern.Some time ago, I read an interesting article that showed how each of the BTC bubbles followed a similar well-known pattern :
https://blogs-images.forbes.com/jessecolombo/files/2014/02/stages_bubble.png
The point was, each BTC peak was way higher than the previous one - like orders of magnitude higher.
IIRC:
First peak went to a few cents,
2nd peak went to a few dollars,
3rd peak was quite a few dollars,
last peak was $20,000.
But each followed the same bubble pattern, just at different scales.
I cannot seem to find it now, hoping some knowledgeable reader can recall that specific article ?
Maybe that's why some posters predict the next peak ?
However, keep in mind the circular reasoning: bubbles follow the same pattern because we use the pattern to identify them as bubbles.
