Bitcoin drawdown comparisons beginning till now
Part 1
Bitcoin from 2011 - 2013
Increase from $0.44 - $31.86
Total retrace down 95% (below 786 fib) to a price of $2.01
Correction length (all-time high to break old all-time high): 634 days
Part 2
Bitcoin from 2013 - 2017
Increase from $63.33 - $1181.69
Total retrace down 91% (below 786 fib) to a price of $169.58
Correction length (all-time high to break old all-time high): 1245 days
Part 3
Bitcoin from 2017 - 2018
Increase from $1838.54 - $19775.25
77% retrace complete thus far. Impulse incomplete. Waiting for 786 fib break
Correction length: TBD
BTC Update : Every few years we see a massive run-up in Bitcoin. After this we see a significant drawdown for months - years. Almost 95% retrace in pricing sometimes. Can we find a pattern this time around that may give us an idea of the length of the market drawdown and the severity in % and $ value. If we were to look at Part 1 and Part 2 we may be able to deduce a similar movement in Part 3. We first have to see if 786 fib breaks. If it does break we will have a prolonged bear market with further downside and move into the zone listed.
Bitcoin from 2011 - 2013
Increase from $0.44 - $31.86
Total retrace down 95% (below 786 fib) to a price of $2.01
Correction length (all-time high to break old all-time high): 634 days
Part 2
Bitcoin from 2013 - 2017
Increase from $63.33 - $1181.69
Total retrace down 91% (below 786 fib) to a price of $169.58
Correction length (all-time high to break old all-time high): 1245 days
Part 3
Bitcoin from 2017 - 2018
Increase from $1838.54 - $19775.25
77% retrace complete thus far. Impulse incomplete. Waiting for 786 fib break
Correction length: TBD
BTC Update : Every few years we see a massive run-up in Bitcoin. After this we see a significant drawdown for months - years. Almost 95% retrace in pricing sometimes. Can we find a pattern this time around that may give us an idea of the length of the market drawdown and the severity in % and $ value. If we were to look at Part 1 and Part 2 we may be able to deduce a similar movement in Part 3. We first have to see if 786 fib breaks. If it does break we will have a prolonged bear market with further downside and move into the zone listed.
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