We are currently in (C). It looks close to ending, perhaps near 30x. We should then resume our bull market with (I), right? Where are we in terms of SuperCycles?
Thanks
Thanks
There are a couple of options for the all-time count. One that we have finished a full five wave cycle in which case the next rise would be building on the [ I ] of [[III]]. The other (and imo, more likely) scenario is that 1163 was the top of (III) of [III] and we are about to complete [III] with the next big rally to new ATH's.
This is the more likely count in my opinion
Interesting. This chart would imply a [I] that is very much larger than the [III], no? The earliest price I see for the start of [I] would be 0.04951. From that to 31.91 is massively larger than the labeled [III], which is supposed to be the largest. How do we deal with this discrepancy?
EW is price based, so the rise in 2011, while astronomical on a percentage basis, is not nearly as big on a Dollar basis. Also, 3 cannot be the shortest wave, but it does not have to be the largest wave either. In most bubbles during Bitcoins' short history, the 5th wave is by far the largest wave however, for intraday waves it is not the same story.
I don't think you can truly stick with a linear interpretation of price for something with exponential growth, like Bitcoin. That would imply close to $30 of price increase for wave [V], which is completely wrong.