From the previous two historical cycles we have seen within the Bitcoin market we have seen the market price drop:
1st -68% over 7 days
2nd -51% over 14 days - where the market rode up then fell back down to the -51%
Currently the cycle is in the falling phase globally however this consolidation period will be closely watched by traders and oscillations will happen. Technical Analysis will dictate me buying during a low cycle.
A pound cost averaging strategy will be undertaken as the price is set to drop further closer to the -51% and -68% we have previously seen this currency fall.
Currently it has only fallen as low as -37% over 5d and -34% at 7d on its last support cycle. These numbers look in line with how much it will fall so I should watch out for the next fall.
After the market has fluctuated a few times it will likely level out as previously seen. Then an even bigger bull run than any historical event should break out as we have previously seen.
If this doesn't happen, then a large crash will ensue, which will not do any other of the cryptocurrencies any favour (depending on what triggered and PR fules the crash).
1st -68% over 7 days
2nd -51% over 14 days - where the market rode up then fell back down to the -51%
Currently the cycle is in the falling phase globally however this consolidation period will be closely watched by traders and oscillations will happen. Technical Analysis will dictate me buying during a low cycle.
A pound cost averaging strategy will be undertaken as the price is set to drop further closer to the -51% and -68% we have previously seen this currency fall.
Currently it has only fallen as low as -37% over 5d and -34% at 7d on its last support cycle. These numbers look in line with how much it will fall so I should watch out for the next fall.
After the market has fluctuated a few times it will likely level out as previously seen. Then an even bigger bull run than any historical event should break out as we have previously seen.
If this doesn't happen, then a large crash will ensue, which will not do any other of the cryptocurrencies any favour (depending on what triggered and PR fules the crash).
