Ninjastic
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
User705
on 17/01/2018, 06:28:53 UTC
Quote from: windjc on January 17, 2018, 04:35:26 AM
Quote from: Peter R on January 17, 2018, 03:53:34 AM

$18k -> $3k (6x) wouldn't be unprecedented.  In 2011, we fell from $30 -> $2 (15x), in early 2013 from $250 -> $50 (5x), and in late 2013 from $1200 -> $200 (6x).  

If we get away with a low of $9k (2x) I'd hardly even call that a crash!  

Here are projected lows compared to historical crashes:

2x: $9,000
3x: $6,000
4x: $4,500
5x (early 2013): $3,600
6x (late 2013): $3,000
10x: $1,800
15x (2011): $1,200


Bitcoin is less volatile now. Unless the bull market has ended - which I do not think it has - most of these other crash comparisons are not really valid.

Right now this is a healthy correction - one many people called - that will lead to another bullish year in 2018 with BTC prices well above $50k. BCH might die however Wink
Previous corrections would go into alts but it’s all dropping now.  It won’t get to low Ks overnight but 20k could be a top.  It’s x10 what it costs in electricity per BTC and most past tops were never 20x of previous ATHs.