So far, the resemblances between the NASDAQ crash and the current Bitcoin crash are numerous:
- Disruptive technology in a speculative bubble.
- Typical bubble burst double top crash (other charts very similar are the Dow Jones crash of 1929, or the uranium chart more recently)
- Ocean of worthless copycats coins based on blockchain technology, surfing on the hype.
- Companies shares price quadrupling in 2 days after adding blockchain to their name (kodak), same as dotcom back then.
- People going into debt, selling their houses, to buy bitcoin at the pic...
And then, chart wise se saw:
PRICE WISE
- A 50% bounce after a 70% correction (same as in nasdaq)
TIME WISE
- Number of days between 2 tops during nasdaq crash was 161 days
- Number of days between 2 tops during Bitcoin crash was 21 days
- Ratio = 21/161 = 0.13
- Number of days between top and 70% correction in nasdaq: 378 days
- Estimated number of days between top and 70% correction in bitcoin: 0.13x378 = 49 days
- Real number of days between top and 70% correction in bitcoin:51 days ~ 49 days -> this method seems to indicate that we are following nasdaq not only for the correction scale in price, but also for the correction timing.
I expended this method to estimate, price and time wise, where the bitcoin should be in the coming days/weeks if we keep following what the nasdaq did back in 2000, and you can see the result on the graph.
twitter.com/WorldwideBubble/status/959364857077354496
twitter.com/WorldwideBubble/status/961200341676109824
- Disruptive technology in a speculative bubble.
- Typical bubble burst double top crash (other charts very similar are the Dow Jones crash of 1929, or the uranium chart more recently)
- Ocean of worthless copycats coins based on blockchain technology, surfing on the hype.
- Companies shares price quadrupling in 2 days after adding blockchain to their name (kodak), same as dotcom back then.
- People going into debt, selling their houses, to buy bitcoin at the pic...
And then, chart wise se saw:
PRICE WISE
- A 50% bounce after a 70% correction (same as in nasdaq)
TIME WISE
- Number of days between 2 tops during nasdaq crash was 161 days
- Number of days between 2 tops during Bitcoin crash was 21 days
- Ratio = 21/161 = 0.13
- Number of days between top and 70% correction in nasdaq: 378 days
- Estimated number of days between top and 70% correction in bitcoin: 0.13x378 = 49 days
- Real number of days between top and 70% correction in bitcoin:51 days ~ 49 days -> this method seems to indicate that we are following nasdaq not only for the correction scale in price, but also for the correction timing.
I expended this method to estimate, price and time wise, where the bitcoin should be in the coming days/weeks if we keep following what the nasdaq did back in 2000, and you can see the result on the graph.
twitter.com/WorldwideBubble/status/959364857077354496
twitter.com/WorldwideBubble/status/961200341676109824
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
