Hi everyone,
I'm writing this post with Bitcoin at 11000 USD. I want to discuss with you guys one of the main topics: Will history repeat one more time or will Bitcoin easily go to a higher and higher all-time-high without a sinking price.
The chart looks at the moment ( from the beginning until now):
As you see there was once a big loss in value. (red circle)
I'll try to give my opinion on this in this post.
The chart from the red zone looks like this: (May 13 - May '15)
As you see: In the past when the price went up so much it was unbelievable, we had a correction of the price.
But I agree with you if you might say, that just if something happened in the past that it doesn't have to happen again. I totally AGREE.
BUT actually this behaviour repeated itself numerous times BEFORE already.
For example if you look at the chart in the beginning, let's say 2011:
I could give you even more examples that history repeated itself.
So what do we have now? A pattern, which looks pretty much like a mathematical function. But no usual currency was based on math. So I think it's still important to look at that because the probability it will happen again is pretty high.
So my guess is that Bitcoin will hit its low at 5k USD and go then to around 7-8000 USD and start growing again normally and reach new highs.
My final words:
We're reaching new all-time highs so please take it at least in consideration to take some sort of profits. Look again at the charts and see how similiar they look.
Maybe this will if it happens only affect Bitcoin. Many say that Altcoins depend on Bitcoin but we don't have enough history to show that since Bitcoin used to have at around 90% of the Market Cap.
Will the money from Bitcoin move to Etherium, Steem, Cardano...?
Will the other suffer too if Bitcoins suffer?
Nobody knows. But just stay aware of the possibility and try to diversy your investments.
But nobody knows what will happen, so please give us your opinion on this.
Cheers!
