2780 likely confirmed as the bull trap "return to normal" top following the 3k bubble top.
Price should pierce 2000 now.
Topic: Global Crypto Bear Market - page 5. (Read 6707 times)
Alt-coins are entering a global bear market but not Bitcoin, it will go up when we get Segwit.
I am praying for this to happen. Hopefully when scalability issue of bitcoin will be getting solved we can expect more number of new investors will be entering into bitcoin to take bitcoin prices in to new peak levels. Other than those scalability issues, I'm not finding any other things which are blocking bitcoin's progress for this time being. Ultimately, this is irrelevant
That is, whether Bitcoin finally gets SegWit or not. If the scalability issues are successfully resolved without entering potentially fatal deadlocks and hitting severe bugs somewhere down the line, then Bitcoin will likely remain the top cryptocurrency with its price surging to new highs. If it doesn't make it and kicks the bucket in the process or just turns extremely poisonous, people will just switch to some other coin (those who won't leave for good). Indeed, there will be a period of total chaos and complete anarchy in the markets, but crypto is not going to die anyway
Alt-coins are entering a global bear market but not Bitcoin, it will go up when we get Segwit.
I am praying for this to happen. Hopefully when scalability issue of bitcoin will be getting solved we can expect more number of new investors will be entering into bitcoin to take bitcoin prices in to new peak levels. Other than those scalability issues, I'm not finding any other things which are blocking bitcoin's progress for this time being. There are many high-volume investors are just watching bitcoin on how it will be performing with its internal issues, if bitcoin will come out of those issues smoothly then definitely we can expect them to get into investing in large volumes.
August 1st will probably become a bloodbath and I would not necessarily think that BTC will spike all of a sudden. The issue has not only been about scalabillity, there's also the issue of differing minds trying to pull bitcoin their own way without compromise. What happens on August 1st will probably show us more about ourselves and what the future holds. I'm not looking forward to it.
There is a reason why SegWit is not yet activated, there is also a reason why talks of a HF has been on the drapes. As always time will tell, but I'm not positive to what is about to go down.
Alt-coins are entering a global bear market but not Bitcoin, it will go up when we get Segwit.
I am praying for this to happen. Hopefully when scalability issue of bitcoin will be getting solved we can expect more number of new investors will be entering into bitcoin to take bitcoin prices in to new peak levels. Other than those scalability issues, I'm not finding any other things which are blocking bitcoin's progress for this time being. There are many high-volume investors are just watching bitcoin on how it will be performing with its internal issues, if bitcoin will come out of those issues smoothly then definitely we can expect them to get into investing in large volumes.
Why I see a global crypto bear market coming:
1. Charting: Daily. The daily 20 SMA that has supported this entire uptrend was broken with yesterday's close. The move towards 3k was riddled with weakness that displayed itself in multiple bearish divergences on the daily RSI.
Weekly. On the weekly timeframe, whlie not yet confirmed, it is likely we will both have the first red candle and the first time closing below the upper Bollinger Band.
2. Altcoin and ICO bubble. When there are $150 million ICOs, there is nothing more to say. Looking at Ethereum, it has pierced its 300 low, an entirely new behaviour in its chart highly suggestive that its bubble has popped. We all know Bitcoin was bought to buy into altcoins. When the altcoin hype fades, so does demand for Bitcoin.
3. Psychologically, 3k is a round number and probably such a strong resistance that people will view it as unlikely to reach it again.
Update: Here is my comparison of 2013 vs 2017.
2013 bubble daily: https://i.imgur.com/ML9r1UH.png
2013 bubble weekly: https://i.imgur.com/ngS4fIk.png
2017 bubble daily: https://i.imgur.com/43qNlTn.png
2017 bubble weekly: https://i.imgur.com/QcieybK.png
1. Charting: Daily. The daily 20 SMA that has supported this entire uptrend was broken with yesterday's close. The move towards 3k was riddled with weakness that displayed itself in multiple bearish divergences on the daily RSI.
Weekly. On the weekly timeframe, whlie not yet confirmed, it is likely we will both have the first red candle and the first time closing below the upper Bollinger Band.
2. Altcoin and ICO bubble. When there are $150 million ICOs, there is nothing more to say. Looking at Ethereum, it has pierced its 300 low, an entirely new behaviour in its chart highly suggestive that its bubble has popped. We all know Bitcoin was bought to buy into altcoins. When the altcoin hype fades, so does demand for Bitcoin.
3. Psychologically, 3k is a round number and probably such a strong resistance that people will view it as unlikely to reach it again.
Update: Here is my comparison of 2013 vs 2017.
2013 bubble daily: https://i.imgur.com/ML9r1UH.png
2013 bubble weekly: https://i.imgur.com/ngS4fIk.png
2017 bubble daily: https://i.imgur.com/43qNlTn.png
2017 bubble weekly: https://i.imgur.com/QcieybK.png
I guess your crypto global bear market has been postponed
I would not call it postponed. It is still looming in the background, any day now we are there (even though I already believe we have been for a while now). Not sure if you truly understand what it means to be in a bear market but what I'm seeing it's a given already. Not that I like it but it is what it is.
Alts are in a bubble, Bitcoin is not (yet). I have no doubt that alts will go bear sometime in the near future but Bitcoin will still be bull when that happens. The only thing, barring some catastrophic event, that could send Bitcoin bear in the near future would be a chain split.
So, keep hating on Bitcoin and I'll keep watching the price rise.
Now, when all this negative sentiment towards Bitcoin reverses and becomes enthusiasm, then I'll worry.
I'll agree that alts are, to some extent, in a bubble right now. But I'll have to also say that I believe BTC is in a small bubble as well.
Am I hating on Bitcoin? I can't see where I've done that, lol. But if you want to just throw stuff out there since you can't properly debate, I'll consider myself the winner already.
Not discounting OP's analysis, I believe it's insightful and good to be wary.
But to me it just doesn't "feel" like we're near a top yet. No FOMO, and bearish/skeptical sentiment the whole time this has been climbing. No really hard crash yet. Average Joe still sitting things out.
And then I just keep looking at this:
https://gemini.com/auction-data/
Someone is still pulling mega amounts of bitcoin off daily auction with no slow down. So the question is, does someone know something?
It feels to me like someone wants to park major $$$ in bitcoin for a while. Possibly as a hedge? Fear trade?
But to me it just doesn't "feel" like we're near a top yet. No FOMO, and bearish/skeptical sentiment the whole time this has been climbing. No really hard crash yet. Average Joe still sitting things out.
And then I just keep looking at this:
https://gemini.com/auction-data/
Someone is still pulling mega amounts of bitcoin off daily auction with no slow down. So the question is, does someone know something?
It feels to me like someone wants to park major $$$ in bitcoin for a while. Possibly as a hedge? Fear trade?
Alt-coins are entering a global bear market but not Bitcoin, it will go up when we get Segwit.
Why I see a global crypto bear market coming:
1. Charting: Daily. The daily 20 SMA that has supported this entire uptrend was broken with yesterday's close. The move towards 3k was riddled with weakness that displayed itself in multiple bearish divergences on the daily RSI.
Weekly. On the weekly timeframe, whlie not yet confirmed, it is likely we will both have the first red candle and the first time closing below the upper Bollinger Band.
2. Altcoin and ICO bubble. When there are $150 million ICOs, there is nothing more to say. Looking at Ethereum, it has pierced its 300 low, an entirely new behaviour in its chart highly suggestive that its bubble has popped. We all know Bitcoin was bought to buy into altcoins. When the altcoin hype fades, so does demand for Bitcoin.
3. Psychologically, 3k is a round number and probably such a strong resistance that people will view it as unlikely to reach it again.
Update: Here is my comparison of 2013 vs 2017.
2013 bubble daily: https://i.imgur.com/ML9r1UH.png
2013 bubble weekly: https://i.imgur.com/ngS4fIk.png
2017 bubble daily: https://i.imgur.com/43qNlTn.png
2017 bubble weekly: https://i.imgur.com/QcieybK.png
Nice to see some nice analysis, but I think common sense is enough to know this, the market cap increased 10 times in the period of June 2016 to June 2017 and there is not a strong enough reason for this to have happened so the only conclusion is that this is a speculative bubble and like all the bubbles this is going to burst at some point. 1. Charting: Daily. The daily 20 SMA that has supported this entire uptrend was broken with yesterday's close. The move towards 3k was riddled with weakness that displayed itself in multiple bearish divergences on the daily RSI.
Weekly. On the weekly timeframe, whlie not yet confirmed, it is likely we will both have the first red candle and the first time closing below the upper Bollinger Band.
2. Altcoin and ICO bubble. When there are $150 million ICOs, there is nothing more to say. Looking at Ethereum, it has pierced its 300 low, an entirely new behaviour in its chart highly suggestive that its bubble has popped. We all know Bitcoin was bought to buy into altcoins. When the altcoin hype fades, so does demand for Bitcoin.
3. Psychologically, 3k is a round number and probably such a strong resistance that people will view it as unlikely to reach it again.
Update: Here is my comparison of 2013 vs 2017.
2013 bubble daily: https://i.imgur.com/ML9r1UH.png
2013 bubble weekly: https://i.imgur.com/ngS4fIk.png
2017 bubble daily: https://i.imgur.com/43qNlTn.png
2017 bubble weekly: https://i.imgur.com/QcieybK.png
Great observation and analysis here mate. It seems you made a thorough research about this one. History does help us in knowing what the future will be. However, this does not guarantee anything at all. It might be just a coincidence of some sort but who knows, right? This is a good sign for what we might encounter all throughout the year. Thanks for your effort in putting this together.
Why I see a global crypto bear market coming:
1. Charting: Daily. The daily 20 SMA that has supported this entire uptrend was broken with yesterday's close. The move towards 3k was riddled with weakness that displayed itself in multiple bearish divergences on the daily RSI.
Weekly. On the weekly timeframe, whlie not yet confirmed, it is likely we will both have the first red candle and the first time closing below the upper Bollinger Band.
2. Altcoin and ICO bubble. When there are $150 million ICOs, there is nothing more to say. Looking at Ethereum, it has pierced its 300 low, an entirely new behaviour in its chart highly suggestive that its bubble has popped. We all know Bitcoin was bought to buy into altcoins. When the altcoin hype fades, so does demand for Bitcoin.
3. Psychologically, 3k is a round number and probably such a strong resistance that people will view it as unlikely to reach it again.
Update: Here is my comparison of 2013 vs 2017.
2013 bubble daily: https://i.imgur.com/ML9r1UH.png
2013 bubble weekly: https://i.imgur.com/ngS4fIk.png
2017 bubble daily: https://i.imgur.com/43qNlTn.png
2017 bubble weekly: https://i.imgur.com/QcieybK.png
1. Charting: Daily. The daily 20 SMA that has supported this entire uptrend was broken with yesterday's close. The move towards 3k was riddled with weakness that displayed itself in multiple bearish divergences on the daily RSI.
Weekly. On the weekly timeframe, whlie not yet confirmed, it is likely we will both have the first red candle and the first time closing below the upper Bollinger Band.
2. Altcoin and ICO bubble. When there are $150 million ICOs, there is nothing more to say. Looking at Ethereum, it has pierced its 300 low, an entirely new behaviour in its chart highly suggestive that its bubble has popped. We all know Bitcoin was bought to buy into altcoins. When the altcoin hype fades, so does demand for Bitcoin.
3. Psychologically, 3k is a round number and probably such a strong resistance that people will view it as unlikely to reach it again.
Update: Here is my comparison of 2013 vs 2017.
2013 bubble daily: https://i.imgur.com/ML9r1UH.png
2013 bubble weekly: https://i.imgur.com/ngS4fIk.png
2017 bubble daily: https://i.imgur.com/43qNlTn.png
2017 bubble weekly: https://i.imgur.com/QcieybK.png
I guess your crypto global bear market has been postponed
I would not call it postponed. It is still looming in the background, any day now we are there (even though I already believe we have been for a while now). Not sure if you truly understand what it means to be in a bear market but what I'm seeing it's a given already. Not that I like it but it is what it is.
Alts are in a bubble, Bitcoin is not (yet). I have no doubt that alts will go bear sometime in the near future but Bitcoin will still be bull when that happens. The only thing, barring some catastrophic event, that could send Bitcoin bear in the near future would be a chain split.
So, keep hating on Bitcoin and I'll keep watching the price rise.
Now, when all this negative sentiment towards Bitcoin reverses and becomes enthusiasm, then I'll worry.
Why I see a global crypto bear market coming:
1. Charting: Daily. The daily 20 SMA that has supported this entire uptrend was broken with yesterday's close. The move towards 3k was riddled with weakness that displayed itself in multiple bearish divergences on the daily RSI.
Weekly. On the weekly timeframe, whlie not yet confirmed, it is likely we will both have the first red candle and the first time closing below the upper Bollinger Band.
2. Altcoin and ICO bubble. When there are $150 million ICOs, there is nothing more to say. Looking at Ethereum, it has pierced its 300 low, an entirely new behaviour in its chart highly suggestive that its bubble has popped. We all know Bitcoin was bought to buy into altcoins. When the altcoin hype fades, so does demand for Bitcoin.
3. Psychologically, 3k is a round number and probably such a strong resistance that people will view it as unlikely to reach it again.
Update: Here is my comparison of 2013 vs 2017.
2013 bubble daily: https://i.imgur.com/ML9r1UH.png
2013 bubble weekly: https://i.imgur.com/ngS4fIk.png
2017 bubble daily: https://i.imgur.com/43qNlTn.png
2017 bubble weekly: https://i.imgur.com/QcieybK.png
1. Charting: Daily. The daily 20 SMA that has supported this entire uptrend was broken with yesterday's close. The move towards 3k was riddled with weakness that displayed itself in multiple bearish divergences on the daily RSI.
Weekly. On the weekly timeframe, whlie not yet confirmed, it is likely we will both have the first red candle and the first time closing below the upper Bollinger Band.
2. Altcoin and ICO bubble. When there are $150 million ICOs, there is nothing more to say. Looking at Ethereum, it has pierced its 300 low, an entirely new behaviour in its chart highly suggestive that its bubble has popped. We all know Bitcoin was bought to buy into altcoins. When the altcoin hype fades, so does demand for Bitcoin.
3. Psychologically, 3k is a round number and probably such a strong resistance that people will view it as unlikely to reach it again.
Update: Here is my comparison of 2013 vs 2017.
2013 bubble daily: https://i.imgur.com/ML9r1UH.png
2013 bubble weekly: https://i.imgur.com/ngS4fIk.png
2017 bubble daily: https://i.imgur.com/43qNlTn.png
2017 bubble weekly: https://i.imgur.com/QcieybK.png
I guess your crypto global bear market has been postponed
I would not call it postponed. It is still looming in the background, any day now we are there (even though I already believe we have been for a while now). Not sure if you truly understand what it means to be in a bear market but what I'm seeing it's a given already. Not that I like it but it is what it is.
Why I see a global crypto bear market coming:
1. Charting: Daily. The daily 20 SMA that has supported this entire uptrend was broken with yesterday's close. The move towards 3k was riddled with weakness that displayed itself in multiple bearish divergences on the daily RSI.
Weekly. On the weekly timeframe, whlie not yet confirmed, it is likely we will both have the first red candle and the first time closing below the upper Bollinger Band.
2. Altcoin and ICO bubble. When there are $150 million ICOs, there is nothing more to say. Looking at Ethereum, it has pierced its 300 low, an entirely new behaviour in its chart highly suggestive that its bubble has popped. We all know Bitcoin was bought to buy into altcoins. When the altcoin hype fades, so does demand for Bitcoin.
3. Psychologically, 3k is a round number and probably such a strong resistance that people will view it as unlikely to reach it again.
Update: Here is my comparison of 2013 vs 2017.
2013 bubble daily: https://i.imgur.com/ML9r1UH.png
2013 bubble weekly: https://i.imgur.com/ngS4fIk.png
2017 bubble daily: https://i.imgur.com/43qNlTn.png
2017 bubble weekly: https://i.imgur.com/QcieybK.png
1. Charting: Daily. The daily 20 SMA that has supported this entire uptrend was broken with yesterday's close. The move towards 3k was riddled with weakness that displayed itself in multiple bearish divergences on the daily RSI.
Weekly. On the weekly timeframe, whlie not yet confirmed, it is likely we will both have the first red candle and the first time closing below the upper Bollinger Band.
2. Altcoin and ICO bubble. When there are $150 million ICOs, there is nothing more to say. Looking at Ethereum, it has pierced its 300 low, an entirely new behaviour in its chart highly suggestive that its bubble has popped. We all know Bitcoin was bought to buy into altcoins. When the altcoin hype fades, so does demand for Bitcoin.
3. Psychologically, 3k is a round number and probably such a strong resistance that people will view it as unlikely to reach it again.
Update: Here is my comparison of 2013 vs 2017.
2013 bubble daily: https://i.imgur.com/ML9r1UH.png
2013 bubble weekly: https://i.imgur.com/ngS4fIk.png
2017 bubble daily: https://i.imgur.com/43qNlTn.png
2017 bubble weekly: https://i.imgur.com/QcieybK.png
I guess your crypto global bear market has been postponed
Your TA meme analysis does not work. Technical Anaylsis is bullshit.
Just because you don't know how to do it properly doesn't mean that it fails to function effectively. That's like blaming a television for being defective because you forgot to put batteries in the remote.
for me it's very crypto global marketplace help you when there is movement of the bitcoin growth between up and down so you can know when a shift value of bitcoin. price and technical analysis is very necessary here so that no error occurred
Nekrobios, I have the feeling you might be right.
I sold everything yesterday, to be honest, on a gut feeling that the bubble is popping. I know trading on emotion is a stupid thing to do, and I might miss out on some more upside... but when you look at the chart, you don't even need indicators to tell that growth is slowing down and it DOES remind me a lot of the previous bubble in '13
Looking at today's chart, it only confirms my fears. We have been in a downtrend since we touched on 3k. Unless we pass 3k again, the only possible direction is down.
( disclaimer - I am a huge Bitcoin believer and I think Bitcoin has a golden future. But bull and bear cycles will keep cycling
I sold everything yesterday, to be honest, on a gut feeling that the bubble is popping. I know trading on emotion is a stupid thing to do, and I might miss out on some more upside... but when you look at the chart, you don't even need indicators to tell that growth is slowing down and it DOES remind me a lot of the previous bubble in '13
Looking at today's chart, it only confirms my fears. We have been in a downtrend since we touched on 3k. Unless we pass 3k again, the only possible direction is down.
( disclaimer - I am a huge Bitcoin believer and I think Bitcoin has a golden future. But bull and bear cycles will keep cycling
Thank you Joerii, it means a lot to me when people who have been around for a longer time realize the nature of markets that there are periods with low risk/reward and periods of high risk/reward and you don't necessarily have to expose yourself to the latter.
I agree with you trading on pure emotion is bad. But, as you gain more experience, I find that emotions or notions, if they persist for a longer time, then it's because you sense that something isn't right.
For 20 months, I have had peace with my Bitcoin position, not even bothering to check on it too much save for the latest craze. But as all the information sunk in and the most likely scenario began to unfold, I could not have possibly fallen asleep while hodling this bag.
I agree with you trading on pure emotion is bad. But, as you gain more experience, I find that emotions or notions, if they persist for a longer time, then it's because you sense that something isn't right.
For 20 months, I have had peace with my Bitcoin position, not even bothering to check on it too much save for the latest craze. But as all the information sunk in and the most likely scenario began to unfold, I could not have possibly fallen asleep while hodling this bag.
What I'm worried about is the way BTCBTCBTC is presented to the common folk. It's treated as if it's an investment vehicle like those dotcom boom during the late 90's.
Then what is bitcoin,most of the investors coming into bitcoin thinks that it is a good place for investment,because of the minimal number of coins in existence and looking at the charts it is pretty good to say that it is a profitable investment . 
Bear market is entirely likely for the coming months/years, but right now it doesn't seem like it's going to happen.
Reason being that if there was to be a dump, it would have happened a long time ago. Sure, there was a $400 or so price decrease, the price went down to sub-$2400 level, and everyone freaked out, but as soon as bitcoin hit $2400 and under, everyone started to buy in and price got bumped up again.
So at least for this month and the upcoming month, bitcoin isn't going to go any lower than $2300 in my opinion.
Of course, next year would be a completely different story. Bitcoin could crash down to $1,000, ICOs could get banned etc... But that's too far to make predictions about, we haven't even gotten to the UASF yet.
Reason being that if there was to be a dump, it would have happened a long time ago. Sure, there was a $400 or so price decrease, the price went down to sub-$2400 level, and everyone freaked out, but as soon as bitcoin hit $2400 and under, everyone started to buy in and price got bumped up again.
So at least for this month and the upcoming month, bitcoin isn't going to go any lower than $2300 in my opinion.
Of course, next year would be a completely different story. Bitcoin could crash down to $1,000, ICOs could get banned etc... But that's too far to make predictions about, we haven't even gotten to the UASF yet.
What I'm worried about is the way BTCBTCBTC is presented to the common folk. It's treated as if it's an investment vehicle like those dotcom boom during the late 90's.
This is a great analysis.
I do think that we are going to be in a bearish state for a while after this pump. It seems like the halving brings a lot of hype and enthusiasm to the bitcoin economy for around 1 year and then the rest of the 3 years it is relatively quiet. At the second or third year after a halving is probably the best time to buy bitcoins for cheap because everyone is thinking that bitcoin is "dead" once again.
I don't think though that it's going to crash as hard as 2013 simply because the pump was way more spread out, and we started seeing bearish signs more than a week ago but still haven't crashed that much yet.
The flaw in your thinking is that Bitcoin is in a bubble.
Where's the enthusiasm?
The euphoria?
Exponential growth? x10? x20? x30?
You want to see a bubble, look at alt coins, especially ETH.
We have a long way to go, unless a chain split happens...
Bitcoin was definitely in a bubble. But right now, i don't think it is. The bubble has already popped, there may be further adjustments but not that much.
I do think that we are going to be in a bearish state for a while after this pump. It seems like the halving brings a lot of hype and enthusiasm to the bitcoin economy for around 1 year and then the rest of the 3 years it is relatively quiet. At the second or third year after a halving is probably the best time to buy bitcoins for cheap because everyone is thinking that bitcoin is "dead" once again.
I don't think though that it's going to crash as hard as 2013 simply because the pump was way more spread out, and we started seeing bearish signs more than a week ago but still haven't crashed that much yet.
Time for some quality technical analysis.
2013 bubble daily: https://i.imgur.com/ML9r1UH.png
2013 bubble weekly: https://i.imgur.com/ngS4fIk.png
2017 bubble daily: https://i.imgur.com/43qNlTn.png
2017 bubble weekly: https://i.imgur.com/QcieybK.png
2013 bubble daily: https://i.imgur.com/ML9r1UH.png
2013 bubble weekly: https://i.imgur.com/ngS4fIk.png
2017 bubble daily: https://i.imgur.com/43qNlTn.png
2017 bubble weekly: https://i.imgur.com/QcieybK.png
The flaw in your thinking is that Bitcoin is in a bubble.
Where's the enthusiasm?
The euphoria?
Exponential growth? x10? x20? x30?
You want to see a bubble, look at alt coins, especially ETH.
We have a long way to go, unless a chain split happens...
Bitcoin was definitely in a bubble. But right now, i don't think it is. The bubble has already popped, there may be further adjustments but not that much.
When is a correction a bubble?
Bear market is entirely likely for the coming months/years, but right now it doesn't seem like it's going to happen.
Reason being that if there was to be a dump, it would have happened a long time ago. Sure, there was a $400 or so price decrease, the price went down to sub-$2400 level, and everyone freaked out, but as soon as bitcoin hit $2400 and under, everyone started to buy in and price got bumped up again.
So at least for this month and the upcoming month, bitcoin isn't going to go any lower than $2300 in my opinion.
Of course, next year would be a completely different story. Bitcoin could crash down to $1,000, ICOs could get banned etc... But that's too far to make predictions about, we haven't even gotten to the UASF yet.
Reason being that if there was to be a dump, it would have happened a long time ago. Sure, there was a $400 or so price decrease, the price went down to sub-$2400 level, and everyone freaked out, but as soon as bitcoin hit $2400 and under, everyone started to buy in and price got bumped up again.
So at least for this month and the upcoming month, bitcoin isn't going to go any lower than $2300 in my opinion.
Of course, next year would be a completely different story. Bitcoin could crash down to $1,000, ICOs could get banned etc... But that's too far to make predictions about, we haven't even gotten to the UASF yet.
This is a great analysis.
I do think that we are going to be in a bearish state for a while after this pump. It seems like the halving brings a lot of hype and enthusiasm to the bitcoin economy for around 1 year and then the rest of the 3 years it is relatively quiet. At the second or third year after a halving is probably the best time to buy bitcoins for cheap because everyone is thinking that bitcoin is "dead" once again.
I don't think though that it's going to crash as hard as 2013 simply because the pump was way more spread out, and we started seeing bearish signs more than a week ago but still haven't crashed that much yet.
The flaw in your thinking is that Bitcoin is in a bubble.
Where's the enthusiasm?
The euphoria?
Exponential growth? x10? x20? x30?
You want to see a bubble, look at alt coins, especially ETH.
We have a long way to go, unless a chain split happens...
Bitcoin was definitely in a bubble. But right now, i don't think it is. The bubble has already popped, there may be further adjustments but not that much.
I do think that we are going to be in a bearish state for a while after this pump. It seems like the halving brings a lot of hype and enthusiasm to the bitcoin economy for around 1 year and then the rest of the 3 years it is relatively quiet. At the second or third year after a halving is probably the best time to buy bitcoins for cheap because everyone is thinking that bitcoin is "dead" once again.
I don't think though that it's going to crash as hard as 2013 simply because the pump was way more spread out, and we started seeing bearish signs more than a week ago but still haven't crashed that much yet.
Time for some quality technical analysis.
2013 bubble daily: https://i.imgur.com/ML9r1UH.png
2013 bubble weekly: https://i.imgur.com/ngS4fIk.png
2017 bubble daily: https://i.imgur.com/43qNlTn.png
2017 bubble weekly: https://i.imgur.com/QcieybK.png
2013 bubble daily: https://i.imgur.com/ML9r1UH.png
2013 bubble weekly: https://i.imgur.com/ngS4fIk.png
2017 bubble daily: https://i.imgur.com/43qNlTn.png
2017 bubble weekly: https://i.imgur.com/QcieybK.png
The flaw in your thinking is that Bitcoin is in a bubble.
Where's the enthusiasm?
The euphoria?
Exponential growth? x10? x20? x30?
You want to see a bubble, look at alt coins, especially ETH.
We have a long way to go, unless a chain split happens...
Bitcoin was definitely in a bubble. But right now, i don't think it is. The bubble has already popped, there may be further adjustments but not that much.
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