If a picture is worth 1,000 words, then a series of pictures showing a repeating pattern must be worth 1,000,000. It seems to me that there is a largely overlooked BTC crash pattern that takes place every year (for the past 4 years) which happens starting exactly 23-24 days before the Chinese New Year like clockwork each year.
Starting Jan 7, 2014... BTC crashes -23.13% (24 days before Chinese New Year which was Jan 31, 2014)
Starting Jan 26, 2015... BTC crashes -32.35% (24 days before Chinese New Year which was February 19, 2015)
Starting Jan 15, 2016... BTC crashes -24.19% (24 days before Chinese New Year which was February 8, 2016)
Starting Jan 5, 2017... BTC crashes -35.39% (23 days before Chinese New Year which was January 28, 2017)
Starting Jan 24-25, 2018... will BTC crash 25-35% to continue the trend??? (23-24 days before Chinese New Year which is February 16, 2018)
Is this BTC crash pattern going to follow suit this year with a BTC dip to close to the 8k level in the coming weeks? If so then the current dip may not even be the start of it, so brace yourself for possible chaos in the market over the next few weeks. I guess only time will tell... stay strong!
Please RESTEEM this post if you found it informative to help spread the word of this potential crash pattern with the rest of the Steemit community!
So guys if you can see this has happened and we are in the crash right now and it has overshot and is at around 6kish level right now and sentiment is that it will fall further, this surely is a very good observation.
I am in positive hopes that it will get back up. I have been analyzing, final numbers and staristics of btc for the past years. Trend are almost the same, however we might expect a slow uptrend for this year due to the crash.
IMO this dip is a bit different then the past years and in this corrections case it is mostly due to the 2 things...
Long story short the recovery IMO will be much faster then most people expect, although we will have to wait until Feb 14th before the true recovery begins (which may start slow but will pick up speed in late feb and early march).
you neglect one point that is NOW the big boyz wanna move in from Wall Street they are not buying up at these levels be prepared to see BTC move down to around $2633USD ...see my steemit blogs
It is a very interesting pattern. However I think this year will see added pressure before the move back up.
Or dit it start today already with ? :D
Chinese New Year comes early this year
This may just be a precursor. In all honesty we may see a slight recovery in the next few days with a lot of sideways action leading up to the Jan 24-25 date before another major dip occurs (as I stated above possibly towards the ~$7800 BTC level). The good news however is that IF this happens I expect it to hit the floor quite hard and bounce back up settling around the 10k mark for about 2 weeks before starting to rise again to the ~$13,800 level, which if it passes would become a new support floor which would act to hold the BTC price above this level going forward where we could then continue our climb back up towards record highs in the weeks/months following that. With all that said I have a feeling that many of the alt-coins without a lot of substance (aka shitcoins) may not survive this one very well and may never recover back to their previous highs (BTC will, good alts will, shitcoins likely won't).
Interesting times...
It will separate the men-from-the-boys-coins!
It sounds realistic what you are presenting
As a Chinese, the Spring Festival is indeed a big expense and requires cash. My budget this year is 10,000~20000 RMB. I won't sell my digital currency assets, maybe somebody will.
I am doing so much yoga to keep my arms and hands strong :) I am ready for that new “Dog” year.
@originalworks
The @OriginalWorks bot has determined this post by @budz82 to be original material and upvoted it!
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
second that. FUD is spreading
Good information
This is incredibly insightful considering huge Chinese bitcoins holdings so I'm starting to see correlation with trends and their culture.🐉
if you've been to casinos they love to gamble,,they don't hodl
has it not happen already. a bit earlier this time?
Actually - that first correction was far more of a crash after peaking in December 2013 - it ultimately fell about 82% and took many months to bottom. If it does the same thing after this parabolic rise - the price would fall to $3,600. https://steemit.com/bitcoin/@diamondlou/btc-price-forecast-will-history-repeat-itself
You could be spot on there Lou.
I will personally take the chance and buy more BTC. Thanks for sharing.
I also noticed a similar dependence. However, I connected it with the Christmas holidays and the winter holiday season. In the trade in conventional goods there is a peak of sales at the end of December and a big decline in January. If your pattern is correct, then in 2018 the bitcoin value will start to rise after February 16. Let's wait and check. Although this will confirm my hypothesis.
As a resident of South East Asia, I find this theory interesting, you could be on to something! Also, I hope you don't mind, but I mentioned this post and linked in the description of my latest top ten crypto experiment 2018 video.
are we heading for $50,000 per 1 BTC?
its going lower see my charts