BITCOIN: IS IT A BEAR MARKET???
Welcome members, old and new ones to this most-awaited and exclusive update on BTC.
If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest in my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on it or use it to understand the market.
Let's get back to the chart.
Note: This update is going to be lengthy so spare your valuable time to read it completely. This will be beneficial for you. I am not predicting anything here, I am just projecting my analysis compared with the past events.
I have been working on this chart for a while now and after a long analysis here's my update on BTC in a 2 weeks timeframe. I am using BitStamp to get a clear history of BTC. This is the account recorded from 10 October 2011, when BTC reached its lowest point of $2.22.
I am breaking this down into six cycles to have a clear picture.
1. Back on 10th October 2011, BTC reached its all-time-low at $2.22. It was the beginning of the 4th/last quarter when BTC started its journey to the unimaginable rally in the history of trading. BTC rallied all the way from $2.22 to $1163 within 777 days (roughly 2 years). This bull market was a whopping 51,984% gain which was insane. This was the era when ordinary men and women became multi-millionaire.
2. After this bull market came the bear market. it was once again the last quarter when BTC dumped from $1163 to $152 which was around a 90% drop. This bear cycle lasted till 14th September 2015 which was 658 days (1 year and 8 months).
3. Quickly after 14th September 2015, when BTC was entering the 4th & last quarter, it was again the bull run rallying from $223 to $19666. An 8667% rally within 826 days (2 years and 2 months). The bull cycle lasted till the last quarter.
4. It was the end of the last quarter and the beginning of the 1st quarter back in 1st Jan 2018, when BTC entered the bear market. This bear cycle stayed for 364 days (1 year) and the market dropped from $19666 to $3181 around 84%.
5. Indeed it was once again the beginning of the 1st quarter (Jan 2019) when BTC entered the bull run. This bullish rally was the longest so far which stayed for 1057 days (2 years 9 months). It rallied from $3181 to 69k which was around 2153%.
Now, the final chapter.
Last year in Nov 2021 (mid of 4th quarter), BTC made a dropped after reaching its all-time-high. So far this drop is around 50% and there is a high probability that BTC will continue to drop further down in a long run. Comparing the present scenario with the past history, it seems like we have entered the bear market and this may possibly continue for 600 to 700 days (almost 2 years). This means on October 2023, in the 4th & last quarter, BTC will have its bullish rally.
It is quite interesting to see that BTC always enters the bear or bull market either at the last or beginning of the 1st quarter. This time if BTC dumps 70% then we may probably see BTC at 18k.
Keep this in mind, all these are probability and not confirmation.
Let me know what you think about this idea and if you like it then do share the link wherever you can. Let this idea reach as many traders as possible.
I will cover more on this in the coming days until then stay safe and trade well.
Thank you.
If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest in my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on it or use it to understand the market.
Let's get back to the chart.
Note: This update is going to be lengthy so spare your valuable time to read it completely. This will be beneficial for you. I am not predicting anything here, I am just projecting my analysis compared with the past events.
I have been working on this chart for a while now and after a long analysis here's my update on BTC in a 2 weeks timeframe. I am using BitStamp to get a clear history of BTC. This is the account recorded from 10 October 2011, when BTC reached its lowest point of $2.22.
I am breaking this down into six cycles to have a clear picture.
1. Back on 10th October 2011, BTC reached its all-time-low at $2.22. It was the beginning of the 4th/last quarter when BTC started its journey to the unimaginable rally in the history of trading. BTC rallied all the way from $2.22 to $1163 within 777 days (roughly 2 years). This bull market was a whopping 51,984% gain which was insane. This was the era when ordinary men and women became multi-millionaire.
2. After this bull market came the bear market. it was once again the last quarter when BTC dumped from $1163 to $152 which was around a 90% drop. This bear cycle lasted till 14th September 2015 which was 658 days (1 year and 8 months).
3. Quickly after 14th September 2015, when BTC was entering the 4th & last quarter, it was again the bull run rallying from $223 to $19666. An 8667% rally within 826 days (2 years and 2 months). The bull cycle lasted till the last quarter.
4. It was the end of the last quarter and the beginning of the 1st quarter back in 1st Jan 2018, when BTC entered the bear market. This bear cycle stayed for 364 days (1 year) and the market dropped from $19666 to $3181 around 84%.
5. Indeed it was once again the beginning of the 1st quarter (Jan 2019) when BTC entered the bull run. This bullish rally was the longest so far which stayed for 1057 days (2 years 9 months). It rallied from $3181 to 69k which was around 2153%.
Now, the final chapter.
Last year in Nov 2021 (mid of 4th quarter), BTC made a dropped after reaching its all-time-high. So far this drop is around 50% and there is a high probability that BTC will continue to drop further down in a long run. Comparing the present scenario with the past history, it seems like we have entered the bear market and this may possibly continue for 600 to 700 days (almost 2 years). This means on October 2023, in the 4th & last quarter, BTC will have its bullish rally.
It is quite interesting to see that BTC always enters the bear or bull market either at the last or beginning of the 1st quarter. This time if BTC dumps 70% then we may probably see BTC at 18k.
Keep this in mind, all these are probability and not confirmation.
Let me know what you think about this idea and if you like it then do share the link wherever you can. Let this idea reach as many traders as possible.
I will cover more on this in the coming days until then stay safe and trade well.
Thank you.
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