Re-uploaded this TA because i added more information on the graph. Peaked at $1,300 (+73%) dip was -27%
Peaked at $3,000 (+223%) dip was -38%
Peaked at $5,000 (+167%) -37% dip after
Peaked at $7,500 (+148%) -27% dip after
Peaked at $20,000 (a staggering +240%) Dip is 52% so far (very big dip compared to the past 4)
The past 5 pumps have been an average of about 170% Compare 240% pump to the average... The pump to $3,000 caught a lot of attention for bitcoin So did the pump to $20,000 Small amount of people's eyes opened up at $3,000 Even more eyes opened up on the way to 20k? The past 5 dips have been an average of 36% Compared to the 52% dip we are seeing so far
Mt. Gox dipped price from $237 to $67 (-350%)
Price rocketed to $1,000 then dipped to around $500 (50% dip) Took 4 years to recover before reaching $1,000 again Could we see a long term correction like the crash of late 2013/early 2014? Both dips had slightly over a 50% dip Im personally bullish... but I just wanted to point out this dip is pretty big!
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Everyone knew it would refuse to moon on the second attempt of testing resistance. Now it is going for attempt #3 or we are in for a continuation of a bear market. Only time itself or a time traveler will tell.
What about futures release on Friday ? Will they affect negatively the price ?
TStolpe29
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@LeredeLeo, It could negatively affect the price. This is analysis on the graph alone, but the Futures being released is a big factor in BTC's price. Could not say for sure. Some are saying the futures could actually solve problems so who actually knows. Thanks for bringing this up because graphs should be used as a tool of many.