Hello crypto enthusiasts, I appreciate you taking the time to check out my chart.
This chart is a recreation of a chart I created back on March 31st, 2018. At the time the chart was included as an image in the analysis of another chart that I published. The chart I published was of the 2013 to 2015 market cycle, because I included the 2017 – 2018 chart as an image I didn’t have the ability to auto update it so I am recreating it here so that in the future I will be able to update it. I also published a chart on Oct. 30th in which I speculated that maybe this market cycle was moving at an accelerated pace, twice as fast, when compared to the 2013 – 2015 market cycle. In my analysis, I made some assumptions, one of which was that had already bottomed. We now know that the assumption was wrong because of the sell-off on the 14th which set a new low for 2018.
As I have said quite a few times in the past, I have no way of knowing when this correction will end or when a new bull market will begin. All I can do is analyze the price action and try to come up with different scenarios. I believe it is still possible for this boom and correction cycle to end up being much shorter than the 2013 to 2015 cycle which lasted about 2 years from the peak until the next bull market began. But it is also possible that it could still be many months before we see a new bull market. I still remain very on the long-term future of cryptocurrencies and I continue to add to my portfolio on a regular basis but I also believe that we need to be prepared to wait quite a while longer before they enter a new bull market. I am not saying that there is any type of correlation between this market cycle and the 2013 – 2015 market cycle but I find it interesting watching this cycle play out and seeing how it will compare to the 2013 – 2015 market cycle when all is said and done.
Here is a link to the chart I published on March 31st.
Here is a link to the chart I published on Oct. 30th.
Published at Sat, 17 Nov 2018 22:28:15 +0000
