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RE: EXPERIMENT - Tracking Top 10 Cryptocurrencies for One Year (2018) - Month Eight - Down 70%
Excellent post @eoj!
I'm happy you shared this on the account of yours that I am following. It's an excellent experiment and teaches everyone a lot.
I personally don't think there will be another real bull market for Bitcoin until next year, but it might happen towards the end of this year.
The absolute bottom for Bitcoin might be in the $3,500 to $4,500 range, but if it does well over the next few months, it might not dip that low!
Thanks for stopping by @chrisrice! My experiment is a bit of a labor of love, so I'm very happy when other people get something out of it!
You could be right about no bull market until next year. We had a couple good days in a row, but even from yesterday, the entire market is back down again.
Oh well, I guess we'll see how low we go! Hopefully Bitcoin won't drop that far, but on the other hand it wouldn't surprise me that much! :)
After the huge bull run that Bitcoin just experienced, I think it's normal for it to go so low that most surrender and sell their holdings.
I traded penny-stocks when I was 17 to 19 years old, and the bull runs were just as sharp, but the downtrends took a lot longer to unfold than the uptrends.
P.S. Bitcoin and cryptocurrencies might be different from pennystocks, but I am seeing a lot of similarities.