Post
Topic
Board Bitcoin Discussion
Re: Bitcoin (BTC) Bulls Near Exhaustion
by
Pursuer
on 05/06/2019, 14:58:56 UTC
I think that Bitcoin (and alts) will see some heavy correction in the next week or so. This is based purely on a historic profile.

I wouldn't mind being wrong on this though :-)

The correction can happen but it will be not as great as before, in 2018. Moreover, after its end, Bitcoin will start running up again. And this time, its speed will be higher than this April and May.

the 2018 drop was not exactly a correction. it was a market crash due to bubble burst and that kind of drop (a big 85% drop lasting over a year) only happens because of gigantic bubbles like $20k. right now you can't really expect anything remotely similar to that because we are not even close to be in a bubble. price has to reach something like $70k to $100k before we can call it next bubble and expect 2018 to be repeated. which would probably take until 2021.