What do you think about this chart? - page 2.

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote from: faatipoke on March 15, 2018, 04:33:27 AM

I started thinking that this correction is more sever than I expected. I thought we were in small 4th correction and target was 50k usd. However now I see that we are some like in mid 2014. Please chech my analysis below and comment

not sure about that EW count---i get that the 5th of 3 is extended but i really don't love the proportions. wave 4 also must be pretty short in order to hold that trend. i think it'll change into something else.

about the comparison to 2014..... lots of people saying this. maybe so, but in particular i would point out the already apparent difference in fractal. where is the big bull trap? if anything, this looks more like 2011, which would be much worse.

anyway, my point is: be open-minded here. "history does not repeat itself, but it rhymes."

Slark

legendary

Activity: 1862

Merit: 1004

It is no use to compare current market chart to older graphs just to point out some similarities - determining bitcoin's price is no simple matter processing technical analysis.
Current price is driven mostly by news - and since we are bombarded with negativity on a daily basis, it's no wonder that bearish sentiment is overwhelming now.
The news of Google banning cryptocurrency ads is just one more nail in the coffin - do something like this happened in 2014?

crzy

full member

Activity: 2128

Merit: 180

This might be a repeat of 2014 correction but the good thing is bitcoin can really have the potential to bounce back in the right time. I didn’t expect this dump to happen again in the last quarter of this year, I know it will start to pump again that time.

darkangel11

legendary

Activity: 2478

Merit: 1360

Don't let others control your BTC -> self custody

So the first thing you should realize OP is the thing some of the posters have already mentioned: we are in completely different times. The value can drop and remain volatile, but there are some real life adoption factors that you just can't erase, like the opening of Japanese and Korean markets, where the adoption is much higher than in the rest of the world. That's why you can't begin your analysis the way you did from the 300s. Back then the price was simply jumping up from the bottom and would go to retest the 1k anyway. For the 5k we can thank Japan, while breaking 10k was mainly thanks to Wall Street coming in. As long as they are still in play we won't go to 3k or 1k again.

Eternu

sr. member

Activity: 560

Merit: 257

Quote from: UnDerDoG81 on March 15, 2018, 01:53:21 PM

As BTC was at $20k I was saying "this will end like 2014" people were telling "this time its different". We will see. I expect 2k ish in a few weeks/months. There is no more interest in Cryptos at the moment. Will it recover? Nobody knows. I never expected a recover after we hit $200. Then we´ve seen $20k.

What you said when price of bitcoin was $20k, was pure speculation. It would be same if I said "one day we will have unicorns (horses with one horn)".

This time it is different, market for cryptos are much much bigger. Every day more and more people are joining crypto world. I believe that 2014. could not repeat, because things are not the same.
But what I said doesn't prove that fall of bitcoin is not possible. I believe that this will pass, and Bitcoin will continue its path. And even if Bitcoin doesn't survive this, there will be some other crypto to succeed it.

UnDerDoG81

legendary

Activity: 2179

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As BTC was at $20k I was saying "this will end like 2014" people were telling "this time its different". We will see. I expect 2k ish in a few weeks/months. There is no more interest in Cryptos at the moment. Will it recover? Nobody knows. I never expected a recover after we hit $200. Then we´ve seen $20k.

greensheep

member

Activity: 278

Merit: 44

Quote from: BillyBobZorton on March 15, 2018, 01:19:42 PM

Quote from: greensheep on March 15, 2018, 01:14:04 PM

Quote from: faatipoke on March 15, 2018, 04:33:27 AM

I started thinking that this correction is more sever than I expected. I thought we were in small 4th correction and target was 50k usd. However now I see that we are some like in mid 2014. Please chech my analysis below and comment

We could also be in a scenario of 2013?

No, the 2013 scenario cannot ever be repeated, never again. The circumstance was unique. Most of the coins were held in a single centralized exchange which was a disaster. This kind of disaster can never happen. 2018's crash is a joke compared to 2013. Bitcoin's fundamental are stronger than ever, back then even Antonopoulos was scared that it could be the end. Anyone that was around 2013 holding through the crash can't believe people is worried now.

What we do have is a bunch of bitter Mt Gox era people that sold and miss the further moonings, and now all of these people are on a strong FUD campaign trying to get back to near MtGox levels to save face. That is literally all .

What I actually meant is that the price rose end of 2013 after an early 2013 correction.
To me the crash was 2014.

BillyBobZorton

legendary

Activity: 1204

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Quote from: greensheep on March 15, 2018, 01:14:04 PM

Quote from: faatipoke on March 15, 2018, 04:33:27 AM

I started thinking that this correction is more sever than I expected. I thought we were in small 4th correction and target was 50k usd. However now I see that we are some like in mid 2014. Please chech my analysis below and comment

We could also be in a scenario of 2013?

No, the 2013 scenario cannot ever be repeated, never again. The circumstance was unique. Most of the coins were held in a single centralized exchange which was a disaster. This kind of disaster can never happen. 2018's crash is a joke compared to 2013. Bitcoin's fundamental are stronger than ever, back then even Antonopoulos was scared that it could be the end. Anyone that was around 2013 holding through the crash can't believe people is worried now.

What we do have is a bunch of bitter Mt Gox era people that sold and miss the further moonings, and now all of these people are on a strong FUD campaign trying to get back to near MtGox levels to save face. That is literally all .

greensheep

member

Activity: 278

Merit: 44

Quote from: faatipoke on March 15, 2018, 04:33:27 AM

I started thinking that this correction is more sever than I expected. I thought we were in small 4th correction and target was 50k usd. However now I see that we are some like in mid 2014. Please chech my analysis below and comment

We could also be in a scenario of 2013?

nydiacaskey01

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Quote from: BrewMaster on March 15, 2018, 10:48:39 AM

a lot of things are very different from 2014 (for good or worse) the market is so much bigger, a lot of different people from different countries are involved including the Wall Street bastards.
besides i don't think we can really compare situations and expect the same thing be repeated even if the circumstances were the same.

This is true it may look like a repeat but the players now are different. The countries are not paying attention to crytos back then but now, the government wants to regulate cryptos. They want a piece of the pie. Before its easy to trade, Buy Low, Sell High, nowadays, Buy Low, Sell Lower because of the fud and negative news about Cryptos.

rlim475

jr. member

Activity: 59

Merit: 14

So we're in line for $2k bitcoin Undecided

before moving on to over $100k in a few years time. I would be willing to wager right now that at least one of those things is going to happen. There was a 1.5 year bear period in 2014 and 3 years between ATH's (I believe this was the longest gap in bitcoin's history). A bear period is needed to restore expectations and move funds from the weaker hands to the stronger hands but if we are going down the same path then it's going to be a complete decimation and I think that with the spotlight not very much on cryptocurrencies and bitcoin it would be unsurvivable. Anything more than a 6 month bear period right now (we're already nearly halfway through that) and I think that it really could be the end.

Disclaimer: I'm not saying this to spread FUD, I believe firmly in crypto and don't see that scenario happening, but if it does I do see it being final.

BrewMaster

legendary

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There is trouble abrewing

a lot of things are very different from 2014 (for good or worse) the market is so much bigger, a lot of different people from different countries are involved including the Wall Street bastards.
besides i don't think we can really compare situations and expect the same thing be repeated even if the circumstances were the same.

grimesrhymes

member

Activity: 161

Merit: 12

📶Decentralized free Wi-Fi📶

Image doesn't display properly so maybe try somewhere else. It's so difficult to say if we will follow the trend of 2014. We're in one of the worst bear periods since then, arguably the worst. I have a feeling that we won't enter such a long bear period and that things will be at a much quicker rate this time around. I don't see the logical reason as to why we would have such a strong bear market right now given that crypto is only continuing to grow in popularity and understanding. Let's come back in a years time and then we will know.

hase0278

hero member

Activity: 882

Merit: 544

Quote from: faatipoke on March 15, 2018, 04:33:27 AM

I started thinking that this correction is more sever than I expected. I thought we were in small 4th correction and target was 50k usd. However now I see that we are some like in mid 2014. Please chech my analysis below and comment

I also think that this correction was somehow a repeat of mid 2014 since the panic and the scenario that time is very similar(although it is a little bit different. By the way can I ask you to upload your analysis on another image hosting site? I can't check it since the site refuses connection either from my country or just a problem in my internet. Either way I can't see it even if it is embedded.

faatipoke

full member

Activity: 321

Merit: 100

Token That Will Transform The Venture Capital Mark

I started thinking that this correction is more sever than I expected. I thought we were in small 4th correction and target was 50k usd. However now I see that we are some like in mid 2014. Please chech my analysis below and comment

Topic: What do you think about this chart? - page 2. (Read 409 times)