No, this is not a "short idea", but rather a look @ previous market tops & the subsequent corrections.
2013 - In November BTC tops out around the $1,163 mark. An awesome %50,000 return if you were lucky enough to buy bitty @ $2 only a few years prior.
Price then corrects a whopping %86.7 & bottoms @ the Fibonacci 0.618 level, a 2-year accumulation period begins.
It took a total of 406 days for BTC to find the bottom, & exactly 1064 days (35 months) from that low till the 2017 high.
2017 - Thanks to Bitfinex and co, the crypto king tops out in December 2017 @ the 20k mark, a 85% correction follows and price bottoms @ the 0.615 Fibonacci level.
An awesome %12,850 jump from the 2015 lows of $155.
It took approximately 364 days for BTC to find the bottom & ironically, 1071 days before the next all time high- only a single week difference from the 2015-2017 low to high period.
2021 - BTC sets a new all time high of $69,000, a truly spectacular rise. To think this was once 0.01 cents is mind boggling.
A cool %2,150 rise from the 2018 lows of around $3,100.
However 74% has already been wiped from its price when it hit the $17,700 mark. This is also the first that BTC drops below the previous all time high.
Price still hovers around the 0.382 Fibonacci level, should that fail, a visit to the 0.5 Fibonacci is on the cards, it also lines up with the failed rally which resulted in the 2019 high.
Should BTC have a similar 84% correction as it has in the past, it would visit once again, the famed Fibonacci Golden Pocket.
The golden pocket has huge volume profile, i have no doubt that long term bulls would be looking for buys from there (provided that it even gets there)
Another thing to note is that, there is roughly a 4 year period between market tops.
In fact, the duration between the 2013 top and the 2017 top was 1470 days (48.32 Months), only 35 days separate the 2017-2021 high to high period of 1435 days (47.17 months).
Should BTC follow a similar cycle, that could potentially mean a new all time high in October 2025.
BTC can even rocket from here, who knows, only time will tell.
Accumulation, mark-up, distribution- Rise and repeat, its been happening for centuries.
My bias remains unchanged, all my posted ideas are long & are suited for long term investors.
Those get rich quick cowboys are more akin to gamblers, not investors.
I believe that this is the time to be accumulating. Dollar cost averaging into your favourite projects certainly is more appealing now then it was a year ago.
Many coins will go to to zero, some may 10x-100x. Having a strategy is key. Do your own due diligence.
After all - “The market is a device for transferring money from the impatient to the patient.” - Warren Buffett.
Hopefully this helps my fellow investors, traders & gamblers.
Good Luck!
Speculative Setup, DYOR.
2013 - In November BTC tops out around the $1,163 mark. An awesome %50,000 return if you were lucky enough to buy bitty @ $2 only a few years prior.
Price then corrects a whopping %86.7 & bottoms @ the Fibonacci 0.618 level, a 2-year accumulation period begins.
It took a total of 406 days for BTC to find the bottom, & exactly 1064 days (35 months) from that low till the 2017 high.
2017 - Thanks to Bitfinex and co, the crypto king tops out in December 2017 @ the 20k mark, a 85% correction follows and price bottoms @ the 0.615 Fibonacci level.
An awesome %12,850 jump from the 2015 lows of $155.
It took approximately 364 days for BTC to find the bottom & ironically, 1071 days before the next all time high- only a single week difference from the 2015-2017 low to high period.
2021 - BTC sets a new all time high of $69,000, a truly spectacular rise. To think this was once 0.01 cents is mind boggling.
A cool %2,150 rise from the 2018 lows of around $3,100.
However 74% has already been wiped from its price when it hit the $17,700 mark. This is also the first that BTC drops below the previous all time high.
Price still hovers around the 0.382 Fibonacci level, should that fail, a visit to the 0.5 Fibonacci is on the cards, it also lines up with the failed rally which resulted in the 2019 high.
Should BTC have a similar 84% correction as it has in the past, it would visit once again, the famed Fibonacci Golden Pocket.
The golden pocket has huge volume profile, i have no doubt that long term bulls would be looking for buys from there (provided that it even gets there)
Another thing to note is that, there is roughly a 4 year period between market tops.
In fact, the duration between the 2013 top and the 2017 top was 1470 days (48.32 Months), only 35 days separate the 2017-2021 high to high period of 1435 days (47.17 months).
Should BTC follow a similar cycle, that could potentially mean a new all time high in October 2025.
BTC can even rocket from here, who knows, only time will tell.
Accumulation, mark-up, distribution- Rise and repeat, its been happening for centuries.
My bias remains unchanged, all my posted ideas are long & are suited for long term investors.
Those get rich quick cowboys are more akin to gamblers, not investors.
I believe that this is the time to be accumulating. Dollar cost averaging into your favourite projects certainly is more appealing now then it was a year ago.
Many coins will go to to zero, some may 10x-100x. Having a strategy is key. Do your own due diligence.
After all - “The market is a device for transferring money from the impatient to the patient.” - Warren Buffett.
Hopefully this helps my fellow investors, traders & gamblers.
Good Luck!
Speculative Setup, DYOR.
