Bitcoin price repeats history! Price movement review from 2014 to 2017
While speculation is being made that the bitcoin price has reached the bottom, the price fluctuations in the past are similar to the current market situation. In this case, will the price of Bitcoin repeat the past?
Bitcoin price repeats history! 2014 to 2017 price movement review
Bitcoin and subcoin investor Crypto Monk announced that Bitcoin played Twitter on Sunday in 2014. In 2014, the price of BTC saw $ 1,200 before the Mt.Gox attack. After this price was reached, BTC slipped 91% in the next five months and declined to $ 103. Later, the BTC price found strong support from $ 160 to $ 200. In the end, he rose from the bears and rose to $ 509 in 2015. By 2016, it broke its previous record and reached $ 1,173. As you know, at the end of 2017, when the price was close to $ 20,000, the price of Bitcoin was popular but could not be expected to remain at the highest level after this increase.
Proj The growing demand between 2014 and 2017 led to the emergence of many Blockchain projects. Many investors who thought they had missed the opportunity tried to catch at least the subcoins. Thus, the period when Bitcoin gradually lost market dominance began. As a result, many subcoin projects managed to add a certain crowd to the community. According to some, altcoin projects did not give the promised development or investment advantage. In general, the poor results of the ICOs have begun to generate sales pressure on the crypto money market.
Is autumn 2018 similar to autumn 2014?
According to Crypto Monk, the fall of 2018 is quite similar to the fall of 2014. In both cases there are bears. Crypto Monk predicts the bulls will come when the bears are withdrawn from the market. Professional investors often try to predict future performance of crypto coins by looking at past performance.
While the technical analysis shows the useful data, basic analyzes focus on why something will gain value and potential development. In this context, considering Bitcoin, every balloon formed in Bitcoin price seems to be the work of a speculative cycle. However, when every new highest price is reached, speculation is replaced by serious investments. So the price of Bitcoin does not fall to zero.
Bitcoin seems to have reached the end of a balloon cycle
Bitcoin seems to have reached the end of a balloon cycle, but this time many investors are more careful and aware of the situation. Investors began to take more cautious steps in parallel with the decline in ICO’s participation. However, looking at the coming days, regulators’ approaches can be one of the most effective issues on prices. Perhaps BTC can make different movements.
The information in the content of the text is for informational purposes only. It does not constitute any investment advice.