Still much more fall in the price of BTC? Will we repeat the 2014 pattern?
Hello steemians I hope you are very well, I am sure many are worried because the cryptos do not raise their heads and it seems that their fall continues, because the volume of transactions has decreased a lot, looking at the historical behavior of the BTC we can observe that 4 years ago Something similar happened, there was a big increase in the price of the BTC at the end of 2013, in a couple of months it sextupled its value and after that big rise came a downtrend of more than 1 year and then spend 9 months in consolidation of price and so finally start taking steps to change the trend, at the end of 2015 the uptrend started and in just two years we got to see the incredible price of $ 20,000 for BTC in December.
In order to better appreciate the similarities you showed them the BTC / USD pair graphs
In the following image you can see how in November 2013 the BTC price went up, from $ 190 to $ 1122 in just one month.
After more than a year of a bearish trend reaches the minimum of $ 197 in January 2015, unquestionably many people who bought around $ 1000 would be in a great depression and frustration, they would see how their investment would have decreased almost 6 times.
From this date (January 2015) begins a stage of consolidation of price 9 months of stable price and it was an indicator that the downward trend could have ended and in October 2015 begin to raise the price of BTC.
After October 2015 the price of the BTC began a price escalation on a regular basis although the price increase was "accelerated" for almost two years, it was not until April 2017 that the price began to rise exponentially and in only 8 months passed from its previous maximum $ 1122 to the new maximum history $ 20000, almost multiplied its price 20 times in this short period of time.
Now, as you all know, we have already had a bearish trend for 7 months and some analysts say that we have not bottomed. If we look at the graphs, we can see that the pattern was quite similar in December 2013 and 2017.
Will it be that the pattern of the year 2014 will also be repeated? This would imply that the price of the BTC still needs to fall and that it will not be until 2019 that we will begin to see the change in the trend.
What do you think?
See you later, steemians and remember HOLD !!!
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Nice one.
We will watch and see
Si todos tienen esos augurios acerca del bitcoin que todavia le falta por caer, pero como es un mercado volatil podia darnos sorpresas las ballenas son ambiciosas, veremos cuanto tardan en buscar sus altas ganancias
Great post!
Thanks for tasting the eden!