BTC/USD Big gains in long term?Hey Guys,
I was just looking at the 6 month and 1 year chart of Bitcoin to USD.
I spotted something quite interesting over here.
Untill early oktober maybe late september, nobody I knew had heard of cryptocurrency.
I looked at the chart and saw a patern so I started thinking.
I noticed that we can identify a steady patern of 100*n% gain and a 30% correction afterwards.
At first I thought this would just be funny if it were to be true.
But the more I thought about it, the more I started to believe that this idea might not be so crazy after all.
In early december we had the first real bitcoin media attention. Some american news channels might have mentioned it.
Also quite a lot off shows that discuss investing and trading have been talking about bitcoin.
After this first media attention there is a very big chance that the value of the product will drop.
After this first media attention the price could go up at an unseen speed.
Some people use a simple rule. Buy something nobody wants/knows of and when it hits the news, sell.
Can't argue that it's a solid rule, I also use this rule and it worked out quite well.
BUT!
Have we really seen media attention?
I don't think so! The big majority of the people still doesn't believe that bitcoin can have any value.
Most of the people around me still don't believe in the value of bitcoin.
I've been watching the news and I've not seen a single subject that mentions bitcoin.
When I talk to someone and bitcoin comes up, it is because I mention it and want to talk about it.
I've seen the same thing happen with gold and silver and some stocks.
I think this time could be not so different after all.
So let's talk numbers.
Bitcoin hit an ATH of about 19.6K -20K
This means that a 30% correction would retrace bitcoin to about 13.7K
I already did mention that I expected bitcoin to drop to about 13.5K in one of my previous charts.
If you payed attention to the chart, you can see that the candles always dropped below the EMA55 line of the MA EXP ribbon lines.
I constructed a possible continuation of the line based on the patern if follew the times before.
When we look at the chart, we see that the candles probably will do this aswell.
Conclusion, We could see some serious gains in Bitcoin over the comming months.
I'm not saying I'll eat my own dick or that we will see 1Musd for 1 btc, like McAfee did.
I'm not a 100% sure this is all correct, but the analysis I did does really show a strong patern.
Just wanted to share this "crazy" (or not?) Idea with you guys.
