BTC Target Over $100,000 - Similarities With 2013 NOT(!) 2014
Similarities:
> With about +12,000% profits, both have done almost equally well on the way up since the bottom
> The relationship between upmove and correction is almost identical:
- In 2018, about 18% of the upmove was corrected ( 1069 days of upmove divided by 194 days of correction = 18% )
- In 2013, about 17% of the upmove was corrected ( 506 days of upmove divided by 88 days of correction = 17% )
> At both times the upmove was corrected almost equally with -71% (2018) and -75% (2013)
> The shape of the structure is almost identical. Of course, it does not look exactly the same, but has a lot of similarities
Interpretation:
> After the correction in 2013, Bitcoin has risen within 147 days from $63 to $1160, which represents a rise of +1700%. Should we repeat the upmove 2018 again, as we have repeated everything else, we would get from $5800 to a value of $106000 within around 310 days.
> How I came to the 310 days? Simple: In 2013, Bitcoin needed 29% (147 days divided by 506 days = 29%) of the days of the previous upmove.
This means that Bitcoin 2018 will also need about 29% of the days of the previous upmove, which equates to 310 days (1069 days multiplied by 29% = 310 days).
What it would look like:
Conclusion:
At the end I would like to say that it is of course only a comparison and it does not have to happen again. But the similarities with 2013 are very high, which is very unlikely for a coincidence.
However, many compare Bitcoin with the correction of 2014 and in my opinion there are no similarities with it.
Proof of data:
(2018)
(2013)
Similarities:
> With about +12,000% profits, both have done almost equally well on the way up since the bottom
> The relationship between upmove and correction is almost identical:
- In 2018, about 18% of the upmove was corrected ( 1069 days of upmove divided by 194 days of correction = 18% )
- In 2013, about 17% of the upmove was corrected ( 506 days of upmove divided by 88 days of correction = 17% )
> At both times the upmove was corrected almost equally with -71% (2018) and -75% (2013)
> The shape of the structure is almost identical. Of course, it does not look exactly the same, but has a lot of similarities
Interpretation:
> After the correction in 2013, Bitcoin has risen within 147 days from $63 to $1160, which represents a rise of +1700%. Should we repeat the upmove 2018 again, as we have repeated everything else, we would get from $5800 to a value of $106000 within around 310 days.
> How I came to the 310 days? Simple: In 2013, Bitcoin needed 29% (147 days divided by 506 days = 29%) of the days of the previous upmove.
This means that Bitcoin 2018 will also need about 29% of the days of the previous upmove, which equates to 310 days (1069 days multiplied by 29% = 310 days).
What it would look like:
Conclusion:
At the end I would like to say that it is of course only a comparison and it does not have to happen again. But the similarities with 2013 are very high, which is very unlikely for a coincidence.
However, many compare Bitcoin with the correction of 2014 and in my opinion there are no similarities with it.
Proof of data:
(2018)
(2013)
