A brief simulation of BTC entering a bear market like 2013/14
Hi everyone,
I spent some time today comparing the current
BTCUSD scenario with what happened post peak in 2013/2014.
Basically, after its peak in the 2013/14 cycle, BTC entered a bear market and reached its bottom after 14 months, back to the 0.786 fibb retracement line.
If the scenario is repeating itself, my estimations are as follows:
- BTC reaches the bottom of bear in 60 weeks from now, which puts us into Mid March 2023
- If the bottom is around the 0.786 fibb like last time, we bottom at around 17792 mark
- For it to reach the ATH of 2021, we would be looking at 1188 days from the peak in Dec/2021, or the first week of April/2025 to be more precise.
As usual, the market is dynamic and things can change with a simple twitter post by an influencer. We never know.
Please let me know your thoughts.
Peace!
I spent some time today comparing the current
BTCUSD scenario with what happened post peak in 2013/2014.Basically, after its peak in the 2013/14 cycle, BTC entered a bear market and reached its bottom after 14 months, back to the 0.786 fibb retracement line.
If the scenario is repeating itself, my estimations are as follows:
- BTC reaches the bottom of bear in 60 weeks from now, which puts us into Mid March 2023
- If the bottom is around the 0.786 fibb like last time, we bottom at around 17792 mark
- For it to reach the ATH of 2021, we would be looking at 1188 days from the peak in Dec/2021, or the first week of April/2025 to be more precise.
As usual, the market is dynamic and things can change with a simple twitter post by an influencer. We never know.
Please let me know your thoughts.
Peace!
Penafian
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