This chart is a comparison from the correction in 13'-15' to the current correction of 17'-19'.
The entire blue area is the 50 Day Exponential Moving Average. In the 13'-15' correction we poked over the 50 Day 3 times before breaking into a bull trend. In our current correction, we have poked over the 50 Day 3 times now. In the past correction, the bear market lasted 552 days. 554 days from December 2017 puts us in June of 2019. In addition, Bitcoins past correction was a -85% drop from its high. $20,000 to $3,160 is an 84% drop.
The fundamentals are looking very bullish. Fidelity is to be launching it's bitcoin trading desk for institutions some time in March. This is the first time a very well known and reputable U.S. investment company is serving institutional clients.
A new low is not out of mind, but it seems unlikely at this point.
The entire blue area is the 50 Day Exponential Moving Average. In the 13'-15' correction we poked over the 50 Day 3 times before breaking into a bull trend. In our current correction, we have poked over the 50 Day 3 times now. In the past correction, the bear market lasted 552 days. 554 days from December 2017 puts us in June of 2019. In addition, Bitcoins past correction was a -85% drop from its high. $20,000 to $3,160 is an 84% drop.
The fundamentals are looking very bullish. Fidelity is to be launching it's bitcoin trading desk for institutions some time in March. This is the first time a very well known and reputable U.S. investment company is serving institutional clients.
A new low is not out of mind, but it seems unlikely at this point.
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