Did Bitcoin Take A Bad Turn? Is It Following Last Summer's Run & Decline?
bitcoin·@walkingkeys·
0.000 HBDDid Bitcoin Take A Bad Turn? Is It Following Last Summer's Run & Decline?
<html> <p>I know that nobody wants to hear this, but I have to be honest, I don't think things are looking too good for the alt-coin market and Bitcoin.</p> <p><img src="https://media1.giphy.com/media/JIKPuz6HSB7t6/giphy.gif" width="500" height="281"/></p> <p>(<a href="https://giphy.com/gifs/cartoonhangover-cartoon-hangover-barney-deadend-JIKPuz6HSB7t6">Source</a>)</p> <p>Last summer it was a free-for-all with the alt-coins. Everything from Steem, EOS, Stellar, Golem, OMG and tons of others really started to grow after a huge spike in Bitcoin's price. After peaking at almost $3,000 in early June, things went downhill and bottomed out around the 15th of July. </p> <p> Here is a snapshot of Bitcoin last summer.</p> <p><img src="https://image.ibb.co/jgiVu6/Screen_Shot_2018_01_10_at_12_06_39_AM.png" width="738" height="369"/></p> <p>You see that dip that happened around July 16th? We were off highs just under $3,000. It almost lost half it's value in a month. I feel like history is kind of repeating itself. Look at a tighter window from May 19th - July 18th. </p> <p><img src="https://image.ibb.co/iUZ3E6/Screen_Shot_2018_01_10_at_12_12_54_AM.png" width="771" height="451"/></p> <p>Matching these up, we could just be at the first half of the above image. Here's where we are now with Bitcoin starting on Nov, 19th.</p> <p><img src="https://image.ibb.co/ktQX7R/Screen_Shot_2018_01_10_at_12_10_21_AM.png" width="733" height="439"/></p> <p>Here is a smaller timeframe to highlight where we are now. The above image looks a lot like it did back before Bitcoin made the downward turn?</p> <p><img src="https://image.ibb.co/cRsqu6/Screen_Shot_2018_01_10_at_12_26_27_AM.png" width="753" height="446"/></p> <p>To me, I feel like we are sitting around June 27th last summer. Take a look at where Steem was in comparrisaon from last summer.</p> <p><img src="https://image.ibb.co/fsUZnR/Screen_Shot_2018_01_10_at_12_29_48_AM.png" width="744" height="344"/></p> <p>Most of the alt-coin market followed the same trend. I feel, again we are around June 27th and the markets are going to drop at least another 20% until things level out. </p> <p>My guess if this is true, if June 27th is January 11th. The bottom was around July 15th. That is 18 days. 18 days from now is January 29th.. I would say the bottom will be between January 28th and February 1st. That is if, this comparisson is correct. </p> <p>The two are connected, and there was the same rush to alt's as we saw last summer. It was more intense than last summer, so maybe the pullback will be more intense? Who knows, this is just what I'm thinking. The market needs to pull back, just like it did over the summer. I think it is happening right now.</p> <p>Just a reminder</p> <blockquote>Look, I'm no expert, I'm just a small-time investor that is observing the market and has been around for a little while. This isn't advice, just my interpretation of what is going on. Predicting the crypto market is as accurate as playing pin-the-tail on the donkey without a donkey. lol, but we all try to do it. - Love: WalkingKeys</blockquote> <p>Let me know your thoughts in the comments below.</p> <p>Do you think I might be on to something or completely wrong? I'd love to know what you think.</p> <p>Thanks for reading.</p> <p><img src="https://steemitimages.com/DQmXnJ8h7r1Ne7hnbN3MMvoWfe6SZSr84ZnwMLyZz6dMXQx/walking3.gif" width="800" height="100"/></p> </html>