BTC: New ATH for 2018 or a multi-year bear market?

in bitcoin •  20 days ago

As BTC gears up for recovery, with about 5% gains in the past 7 days, it's tempting to hope that the market is in motion for another end of year bull run.

I'm no TA expert or economist, and what follows is simply me looking at charts.

The bullrun of 2017 lasted the entire year and culminated in massive gains for anyone involved. So long as you stayed away from outright scams, it wouldn't have mattered where you put the money as long as your entry point as early in the year and you exited in December/January.

chart2.png!

The fall since then has been pretty catastrophic, with some alt coins nose diving as much as 90% away from their ATH.

BTC, always volatile, has had similar bull runs. As we gear up for the end of 2018, lets recall a previous bull run in April of 2013.

chart1.png

What's important here is that this run from BTC being less than $250 to almost $1000, led to a massive, multi-year bear market. It took YEARS to recover. The similarities in the two charts are obvious.

Will 2019 continue to look like the chart below?
chart3.png

If I'm being hopeful, which I'm not, perhaps we are in a similar position to this moment below. We've had a recovery from an ATH, reached a bottom, and the market is on a tipping point. We might go back to the bottom again before a proper to a new, though modest, ATH.

chart4.png

Point being, be patient. Live your life, follow your career goals or personal goals. Study, better yourself, and most importantly, organize against capitalism while playing the gamble of crypto.

You can't know that we'll get another ATH this year, or even next year. Live in the now.

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