Quote from: SchlaWinner on September 21, 2017, 08:02:29 PM

Quote from: JakeCrypto on September 21, 2017, 07:54:26 PM

I believe that this is the start of the second leg down before bottoming out somewhere between $2000-$3000

The markets always seem to go in cycles, you can look back through bitcoins history and see this.

Look at this bitcoin daily candle chart:

and this is where I think we are in the market cycle:

This is why I've put some of my BTC into USDT. The is a crazy game though and you can never be sure, I will be watching the charts closely.

Got to admit I refused to think that this classic cycle applies to crypto as of late, but it seems very reasonable right now

Cryptos are basically traditional assets on crack. The same things happen, but much quicker and with wilder swings. But ultimately the same laws apply, albeit with some (not immediately obvious) variation.