tmourad76

$BTC scary chart scenario - comparison between 2013-2018

BITSTAMP:BTCUSD   Bitcoin / Đô la
First of all I would like to confirm one statement - the chart I put dose not mean it would happen but it shows some similarity and idintical moves
Last time $BTC was pumped so hard was in 2013 - it ran to $1165. Then it was dumped by almost 70% to around $342 point (A) . then it was pumped again to almost $682 i.e. 99% move point (B).
After that it went down again by another 77% from that peak to $151 point (C).

Now let's go to chart in the left side of 2018
Same thing happened $BTC was pumped so hard in 2017 especially the last 3 months of year 2017 to as high as $19640. Then it was dumped badly by 70% to around $5900-point(A). If you notice the down move precentage
is exactly as point A in 2013. Then it was pumped again by 99% as exact move of point B in 2013 which reached to $11750.

Now two scenarios (point A & B) already happened compared 2018 to 2013 charts. Last move yet not happened which point (C).

Here is the question, would chart 2018 will continue to replicate same moves to point C as it did for Point A & B. If that happened Kiss $BTC Goodbye as it will reach to $2700 due to the 77% down move.
And notice something that the drop in 2013 chart took two years to recover from the lows, so we might have same thing here to stay in a down trend for two years till we recover back in 2020 or even 2021.

On the other hand, if that happens then all ICOs will die and loose noting they raised money using ETH and BTC             and these will loose value and their funds will drop to banckruptcy level.

For me I will consider it, it was a nice ride and get my cash back before everything collapse again.

At the end, all the above just one crazy thought that could be wrong! please DYOR


Regards
You can follow me on twitter for more TA on crypto @tmourad76
https://twitter.com/tmourad76
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