Post
Topic
Board Speculation
Re: 2018 Cryptocurrency Crash (Elliott Wave)
by
drays
on 06/09/2018, 01:02:06 UTC

In any case, the author of the thread is the only one in here or that I know that last January 8, with the Bitcoin still at about $ 17,000, he gave such indications and price projections and spoke of minimums much lower than those of today ..... but is mocked and discredited by others.


Oh really?  Roll Eyes

http://www.thisismoney.co.uk/money/investing/article-5199251/Would-buy-bitcoin-bubble-now.html
https://www.news.com.au/finance/money/investing/shouldnt-have-mortgaged-your-house-bitcoin-dips-below-us10000-selloff-erases-december-gains/news-story/ee99e376f9cf2c34b782bb7338c6a88f
https://www.tradingview.com/chart/BTCUSD/3iMejOPy-Jean-Paul-Rodrigues-Stages-of-a-Bubble/
Note the date of those articles - 21 December 2017, January 18, 2018, Jan 6. With some dedication I can find maybe other 10-20 articles of that period - all with "bubble burst" graph posted.

This notorious graph (the favorite graph of the OP I guess):


was spread with regards to Bitcoin all over financial news media during Nov 2017-Jan 2018. Funny you didn't notice it. Everyone around me was talking about the coming crash in Nov-Dec last year - the question was only will the top be 10K, 20K, 50K or 100K, and will it be in Nov, Dec, Jan or Feb. I was really worried too, so cashed out a bit, just to ease the tension.
In Dec-Jan, after first sell-off the media was especially frightening. Well, that may come down to what kind of media you typically read though, so each ones experience is different. If you read WO thread dominated by a bunch of bulls and wishers/hodlers, then yes, crash would be completely unxepected.

But well, if OP was the first you have noticed, your must be really grateful to him. I personally read this thread as an 'anatomy' of the crash by the proven hater (I know OP doesn't admit that, but anyhow..). I will give credit to OP - but not for the predictions (as they were not something new, as to me), but for some education on Elliot Waves - it adds some calming sensation of 'scientific explanation' to the seemingly chaotic market movements. Also for showing the "bubble burst" process is gradual. What I cannot give the credits for - is for his continued attempts to turn people off from Bitcoin by claiming its value is going to the numbers where the whole existence of crypto ecosystem is rather questionable; and also for ignoring the value of real development currently being done by the whole community around Bitcoin.

EDIT: Some more predictions at that time:
https://www.ft.com/content/7020a6e4-e4e3-11e7-8b99-0191e45377ec?utm_content=buffera5c30&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
http://https://www.valuewalk.com/2017/12/the-anatomy-of-a-bubble/
https://www.thestreet.com/story/14416869/1/bitcoin-bubble-versus-dot-com-boom-tulipmania.html