Reason Why I Believe 2019 Will Not Moon
Hi Guys,
Long time no post but so far much of the crypto market has been much too stagnant for my liking. I just want to post this to express why I havent showed much interest lately and why I believe in 2019 we will not see any mooning; or at least to previous highs of 2017.
For my fundamentals in technical analysis, I believe markets move in cycles. Its a proven theory and we are experiencing it as of right now with the stock market's 10 year cycle. We look at one of bitcoin's most pivotal points and the most notable one was 2013's ATH when it reach $1000. If we mark 2013's ATH to 2017's ATH, then we can obviously see the market cycles every 4 years and we are in the first year of its declining path.
Is this bad new for Bitcoin? Yes and No? Lets look at the 2nd cyclical line below(Pink) that is biyearly. In 2013's decline from $1000, we saw it hit its all time low of $150 within the first year. If we're following these cyclical lines, the worst part of the decline in our 4 year cycle happens in the first year. So right now we would be at the point where we've already hit bottom or worse is yet to come, worse being $3000 Bitcoin.
So there you have it, why 2019 will not be a bullish year to my belief and a warning to all of what is to come. Cheers!
Long time no post but so far much of the crypto market has been much too stagnant for my liking. I just want to post this to express why I havent showed much interest lately and why I believe in 2019 we will not see any mooning; or at least to previous highs of 2017.
For my fundamentals in technical analysis, I believe markets move in cycles. Its a proven theory and we are experiencing it as of right now with the stock market's 10 year cycle. We look at one of bitcoin's most pivotal points and the most notable one was 2013's ATH when it reach $1000. If we mark 2013's ATH to 2017's ATH, then we can obviously see the market cycles every 4 years and we are in the first year of its declining path.
Is this bad new for Bitcoin? Yes and No? Lets look at the 2nd cyclical line below(Pink) that is biyearly. In 2013's decline from $1000, we saw it hit its all time low of $150 within the first year. If we're following these cyclical lines, the worst part of the decline in our 4 year cycle happens in the first year. So right now we would be at the point where we've already hit bottom or worse is yet to come, worse being $3000 Bitcoin.
So there you have it, why 2019 will not be a bullish year to my belief and a warning to all of what is to come. Cheers!
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