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Time to board the Bitcoin train
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[quote:Anonymous Coward 77069094:MV8zOTc5NDIzXzcyMDAwMTYwXzdEMjVEMzE1] [quote:Midwest Skeptic:MV8zOTc5NDIzXzcyMDAwMTM5Xzc5OEU5RkY0] [quote:Anonymous Coward 77069094:MV8zOTc5NDIzXzcyMDAwMDI0XzFGRTZCODNG] [quote:Anonymous Coward 70799888:MV8zOTc5NDIzXzcxOTk5OTcwX0NEMkQ1NDI=] [quote:Midwest Skeptic:MV8zOTc5NDIzXzcxOTk5ODA4XzRDOEFBMTgw] High $19,065 (on weekly chart) Current $3,900 Nearly all people who have bought Bitcoin since 9/17/2017 are UPSIDE DOWN on their purchase. There have only been 5 weeks since then that Bitcoin has traded lower than it's present price, and all of those have been in the last 2 months. To top it off those prices haven't been much lower than the present price (meaning not much of a gain has been possible). Following the 90/10 rule, a mania object will lose lose 90% of it's gains once the mania ceases leaving only 10% of the gains, AT MOST. With that knowledge one can easily calculate where a solid basing area for Bitcoin [b]MIGHT [/b]come into play. Weekly price high $19,065, the old long term basing ares before the "Bubble" was in the $600 to $950 range, so let's call it $1000 for shits and grins, leaving a BUBBLE GAIN of $18,000+-. 90% of that is $16,200. 19,065 less $16,200 gives an [b]indicated HIGHEST LEVEL potential pricing base area in the $2,850 range, but it could easily be lower.[/b] (That is still a solid $1000 below the current level). Bitcoin could easily go all the way back to it's old basing area of $600 to $900 before it hits a solid foundation. [i][b]If you analyze risk, even if one believes in Bitcoin, one should NOT invest in Bitcoin until it hits that potential base area $2,850 (preferably lower), otherwise your RISK for further declines is way too high on a "risk adjusted basis". [/b][/i] (in my review of major "mania's" over the centuries I have noted that some go all the way to ZERO ... only those with real economic substance can really form a "Base" and SLOWLY start back up from there. To add further ... usually the collapse off of a bubble top takes 24 to 60 months, with most of those collapses bottoming in the 36 to 48 month range) [/quote] :hesright: [/quote] $2,850 Could happen indeed. [/quote] fwiw ... one also HAS to look at the TIMING for the bottoming of the object of a Mania. IMO we are still WAY TOO EARLY on the timeframe chart for a solid bottom of this Mania to be hit. Those that look at price alone are missing the entire psychology of the group of people who "invested" in the mania object, and when they psychologically FINALLY throw in the towel on their "investment". A solid base can NOT be formed UNTIL the mass of investors psychologically GIVE UP and throw in the towel on their losing investment ... which requires the passage of time. [/quote] https://uk.tradingview.com/chart/BLX/zJ8OJQTM-The-Bottom-Is-In/ [/quote]
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Next stop $140k
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