The btc bubble might have popped, but how likely is it really?
At first glance the btc chart looks just like the dotcom bubble chart but careful inspection reveals key differences.
One might argue that the real btc peak started at 8k instead of 12k but that just swaps height of the peak for duration.
Aside from the chart, exchanges are overflowing with new users.
Also, the dotcom bubble was trillions (in 2000 dollars) while the btc bubble is billions (in 2018 dollars).
The chart, coupled with these facts, leads me to believe that we are only in a correction and not in a popped bubble (though we could still go lower in this correction).
One might argue that the real btc peak started at 8k instead of 12k but that just swaps height of the peak for duration.
Aside from the chart, exchanges are overflowing with new users.
Also, the dotcom bubble was trillions (in 2000 dollars) while the btc bubble is billions (in 2018 dollars).
The chart, coupled with these facts, leads me to believe that we are only in a correction and not in a popped bubble (though we could still go lower in this correction).
Comment:
It looks like that might have been the bottom. Lets see if the channel holds on the upcoming retracement. Anything other than a quick stop run will invalidate this chart.
Comment:
Was way wrong on this way, should have sold more at 18k. Still, we may be a long time off from bottom now:
