Did a quick and nasty chart to see how things would look if the pattern repeated 2013-2015.
If the worst is that we hit a low of $4k and we're back at new highs next year then it's not that bad at all.
The main problem I have with all these 2013-2015 comparisons is that they provide the perfect bear food; they become self-fulfilling prophecy, opium for the masses, for no other reason than they half-assed sorta-kinda match a trend we saw years ago, under completely different circumstances.
I'm as guilty as anyone for seeking patterns in the knucklebones and chicken guts; however, shorters and manipulators are using this to great advantage, because every little dump they prescribe has all the sheeples and lemmings running after them with sky-is-falling syndrome, pointing to the holy charts as evidence that Satoshi has indeed forsaken them, exactly as written in 2013-2015 scripture.
By mid 2015, nothing historical could any longer predict the future, until finally the great 2015-2017 bull run took off on its own fundamental and speculative merits, charting brand new territory, all the way from $200 to $20,000.
Not until we break free of the soothsaying charters comparing the future to the past, will present-day fundamental analysis and actual technical development once again take control of the market.
Whether it takes a dump to $4k or a break for $8k to finally shake free of these medieval shackles is anybody's guess, but charters and manipulators definitely seem to be winning the holy war at the moment.
It really boggles the mind that even the monumental Mt Gox civil rehabilitation announcement, the SEC declaring Bitcoin as not a security, and lightning network mainnet achievements are having nary an effect on this bear market.
We are truly a superstitious lot, despite all evidence to the contrary.
I really don't know if charts cause a kind of self-fulfilling prophecy? Sure, there are a few in this thread who have sold recently, but it seems that a vast majority have been buying more than selling... Yet, I understand that it is difficult to get a grasp on exactly what peeps are doing in this thread as compared with the overall public and the whales and the overall dynamics of the price.
