Arcane Studies of Bitcoin (With short term prediction)
Before the current pump, there has only been one before of comparable magnitude. That was the 2013/2014 pump, where the price eventually maxed out at around $1200. Later it fell to under $300.
If you notice the angles, fibonacci levels on the various pumps and the time zone comparison, it seems exceedingly likely that bitcoin will dump to around 1800 on approximately the 26th of June, then rebound once again to $2700-2800 levels. And that will be it.
For all of those whom might believe that this is the bear trap: The pump bears all the marks of having reached the top. The very laws of nature dictates this behaviour and if whether the it is materialised through good or bad news, scams or absolute frenzy is irrellevant.
2013/2014 pump:
Current pump:
A bit of a dilemma whether to take profits now because the price doesn't seem to be able to break 2900 for long.
The other consideration is that i think the price of bitcoin will be a lot higher years from now.
Maybe take out profits now, buy in at the dip and sell out at a potential top that might come again soon. Long term entry levels are likely to be around $800.
Thank you for offering us your very specific considerations. I will stay in bitcoin so I hope that you are right about what happens post dump!! Have fun out there and good luck with your future posts!
Thank you! :)
The current pump is nothing like the 2013 pump or even the 2011 pump. For that, this pump should go to $15k and beyond.
That is true, but it is reasonable to assume that a bigger market exhibits less volatility than a smaller market. Structurally the pumps are as of yet, fairly similar.