Quote from: Hashllenge on March 16, 2018, 11:15:06 AM

Quote from: slaman29 on March 16, 2018, 10:36:00 AM

Quote from: qwizzie on March 16, 2018, 09:47:21 AM

I think the anaysis and conclusion in the article of Cointelegraph are rather interesting, as it shows less of an impact of the Mt Gox selling
on the Bitcoin price then was first assumed by many. Basicly it turns out to form a lessor factor in the current longterm downtrend.

This longterm downtrend was anticipathed by many traders ahead of the actual start of the downtrend, only to those new
to the market it all came as a large shock, somehow they got the impression that Bitcoin price would not suffer any longterm
price corrections and would just go straight to the $50.000

With regards to the title of this thread, i think i would have named it : Winter has arrived

Interesting read indeed, and not a bad analysis of the analysis. Like you said, a lot of decently relevant people did say we should prepare for the winter. I recall very well that Charlie Lee in the same week that Litecoin hit its all time high, Tweeted that people should not have short memories. He warned that anyone who had enough years should be happy that crypto was up, but should also be prepared for LTC to dash down to $20 again. Everything happens in cycles. And we should be well prepared for a long winter.

Yet many people criticised Charles Lee and hated him for that, time is proving him right once again.

I don't know how long this bear market will last but it could be well years. 2013 growth was followed by years of sideways, declines and pain

Yes I was having a detailed look at the 2013 year in crypto today - Coinbase established, the first ICO in July 13 for MasterCoin and the birth of LiteCoin as well as another 90 odd new coins released that were mostly scams, and the 9,500% run up of bitcoin from $13 to an ATH of $1,130 on Nov 29 2013 before it crashed 80% in a jagged fashion. And yes it might do well to remember now that bitcoin sat around $250 for all of 2014, and then around $200 for the first 9 months of 2015 before it rose to $400 in the last quarter - and then slowly rose through 2016 to end the year at ~$1,000. So people who bought bitcoin at $1,130 in November 2013 were still underwater over three years later in December 2016!

As Charlie Lee tweeted we should not have a short memory, and we should not forget the past! I believe the charts and demographics suggest bitcoin should revisit its ATH of $19,000 in Dec last year by the end of this year - but I am mindful that history shows that bitcoin may still be priced under that ATH in three years time at the end of 2020! As is emphasised over and over when you join the cryptocurrency investing world, its important advice to - Dont invest more than you can afford to lose!.