Ninjastic
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
windjc
on 17/01/2018, 08:09:29 UTC
Quote from: User705 on January 17, 2018, 06:28:53 AM
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.

Look at the log charts. This rise to 20k was not even FOMO yet.