The movement of price index has clearly show that the price will not rise this year, is almost half a year now since the price drops, this is far beyond inflation and fiscal policy of the government, I think bitcoin is suffering heavy weight withdrawals and it might end up been this Stuart for the year.
Out of 100% of international market chats bitcoin is beneath the range price counts of crude oil, gas, gold and diamond, that's means bitcoin is far from rising soon.
What do you think?
I think there is significant more downside before Bitcoin goes up again. It's about to enter the 5th leg of the Elliott Wave, which means that a new upturn will begin after that. How soon? Hard to predict, but the downturn might last another 6-10 months - or a bit more or less. My estimate is based on Elliott Wave theory and between 8-12k is the next level to watch out for.