Post
Topic
Board Bitcoin Discussion
Re: does it feel like 2014 again?
by
racebum
on 18/05/2018, 19:10:45 UTC
your study of graphics is pretty good, but I do not think bitcoin prices will go back to 2014, I do not want bitcoin prices to suffer a prolonged decline. And I think the miners have gained a lot of profits so I guess the miners will not never leave the y spelling.

oh there is no possible way we are returning to 2014 prices unless it's going to zero. when i said 2014 prices i was referring to peak to trough percentage decline. in 2013 we made a 1000 usd high and fell to a 220usd low. it's worth noting 2013 began at 20usd so even the lowest low was 11x higher than the start of that year. that equaled an 80% decline which would be BTC $4000 usd today which i personally don't think is likely because of the situation i have already mentioned. mostly. 2017 was no where near as bad as 2013 and neither was the price gain. 2013 over doubled the gain we saw in 2017 as measured by percentage. i cautiously think the 6k low we already have made is the actual low which is a 70% retrace from the 19,500 high we had in dec-2017. i find no evidence in the recorded history of crypto to argue an 80% matching decline would be likely besides the chart repeating itself. to me that's 5-10% odds of a direct 2014 repeat. it does however explain why some people speak of 4k btc as if it is going to happen. they are purely technical analysts who expect the chart to always repeat itself.....they are also wrong quite a lot