Bitcoin had a 78% decrease from 2013 all time high from around $1200 to $250. All time high for 2013 was on Nov 30th. To get to $250 boring volatility it took 1 and a half years and a further 6 months wait to see some uptrend totalling 2 years to wait to catch the slow bull train from the 1st train station stop. In summary this bear market lasted 2 years.
maybe you need to check the charts again because you got almost everything wrong here!
- the bottom was $150 not $250
- the ATH was at the end of December and beginning of November (2013-12).
- the bottom was at January (2015-1)
- that makes the duration
1 year. 13 months if you like.
- the accumulation lasted about 8 months which was the start of the uptrend.
So using these statistics is it best to buy bitcoin at $4400 by boarding the 1st train stop departure in June 2019?
well if you want to stick to the same pattern first everything has to be the same which is obviously not.
we have already had the huge 72% drop and it only took 5 months not 13. so why should anything else be the same?
I know I will get a reply saying bitcoin's popularity and exposure wasn't as big in 2013-14 compared to now however can someone give me reasons why history wont repeat itself?
how about you giving us a reason why history should repeat?