BITCOIN CHART PATTERN SHOWS BOTTOM?


how much lower can Bitcoin go talking
about in this video my idea my theory on why I think Bitcoin still has some
downside to go here and then kind of talking about why I think Bitcoin might
hit a certain percentage drop before we find a bottom looking at the Bitcoin
sharpness video and talking about the price I think Bitcoin might hit before
we return to a bull market so stay tuned to find out what my theory is
and what price Bitcoin might hit varies what’s going on guys Patrick here today
we’re talking about Bitcoin really it’s like Bitcoin crypto currency so when I
talk about Bitcoin I’m basically talking about the cryptocurrency market it
really all just depends on Bitcoin right now so we’re looking at Bitcoin as
basically the macdaddy the one chart that everybody else is following looking
at the Bitcoin chart back in 2013 had this big move up here to the 300 dollar
Erie it crashed had a big crash big sell-off trying to lower to the lower
and finally the reversal kind of started there at the $60.00 area so from $300 to
the $60.00 area about an 80% drop 82% around there we started to move from $60
started to crank up crank up November went from 200 $4,200 area up here to
$1,200 so this would have been a 2000 percent move here on Bitcoin back in
2013 so you had that 82% drop there in the beginning of 2013 and then after
that you had a 2000 percent move from that bottom there and 2013 so massive
move there from $60 up there to $1,200 well what happened after that all-time
high there in 2013 after that it was basically another big kind of sell-off
massive sell-off after that and you can see what happened so from that 12-hour
area look at this looks pretty much exactly the same as today’s chart on
Bitcoin you can see from the 1200 our area where did it go boom down here to a
hundred and fifty dollars another 85% move and then finally we
kind of a bottom there at the hundred sixty hundred fifty dollar area it took
about a year took about a year 2015 before we really broke back out of that
and then I’d say probably the end of 2015 this started to move higher so all
the 2015 it really just was a bear market 82 percent dropped 2000 percent
move 85 percent dropped 11 thousand percent move up there to the $20,000
area two years later the runs have been getting bigger the drops have kind of
stayed the same so I’m thinking right now we are at about 70 percent drop from
the all-time high so from $20,000 to $6,000 is around a 70
percent drop now to get that full 80 percent drop 85 percent area we would
need to basically get down there to the $3,000
area then we’d kind of be at that 85 percent drop which is kind of where we
were the last two times that the market kind of sold off and then returned to a
bull market most of the time these patterns repeat themselves and obviously
this theory is kind of looking back in the past what has happened in the past
what patterns have we seen before and look we saw that drop 85 percent we saw
the 2000 percent move we saw another 80 percent move and then we got an 11
thousand percent move what’s happening once again we’re getting another 80
percent drop so 85 percent area would put us there at the $3,000 area on
Bitcoin plan is kind of planning that Bitcoin could drop down here to the
$3,000 area to kind of repeat that pattern now I’m not an expert when it
comes to technical analysis stuff like that charts and all that people draw
crazy lines all over place but clearly you can see the pattern here by looking
at the Bitcoin chart it’s very clear big draw big drop big run big run and now
what happened again we’re getting another big drop we’re probably gonna
see the six thousand dollar area not too sure we’re gonna see three thousand
dollar area but it could happen the one thing that I am bullish about here is
that a lot of infrastructure is being built on top of the blockchain world
Bitcoin world more people are building on top of the idea of blockchain
revolutionising the world than ever before so back in 2014 we had a 2,000
percent move Bitcoin was still a very bare
young it was very kind of unknown and then you know last year when we had this
big major move we really had a lot of new investors a lot of people coming
into the game new websites got new people with large pockets that are
getting into this cryptocurrency space you had a lot of things going on right
now so next big move could be you know twenty thirty forty thousand percent
move from that low if you look at this chart and that’s not to say that’s gonna
happen tomorrow or the day after or the month after or the week after or the
month after the year after but long term you know two three four or five years
whatever this is gonna be whatever this charts gonna be you can see in the
beginning of 2013 we had that sell-off which is about six months and then it
rallied back as much as I hate to say it we could be stuck in this kind of bear
market for the next year or so or even more you know two years so my game plan
really is just by big sell-off stew just by a little bit by a little bit by a
little bit continuously and just kind of build my portfolios by
coins that I like I’m buying digi buy I’m looking to buy some more Bitcoin if
it gets down to 3,000 our area I’ll definitely load up on some more bitcoins
stuff like that but overall this is a long-term play I’m looking for long-term
two three four years at this point and I like to buy the dip hard here and that’s
kind of my plan I’m looking at this chart I’m seeing the pattern and I’m
thinking hey seventy percent discount here with the idea that we could
possibly see another wave that is similar to these waves I mean that would
be an amazing return if we haven’t found another bull market by 2020 all hope
might be lost but overall you can clearly see their pattern here that we
have had these pull backs but each pull back has been met by a much much larger
run after that you know the good thing about Bitcoin is no matter what it’s
still limited they’re not gonna be able to create more nobody can just print
more Bitcoin even if bitcoins crashing it’s not like hey I’m gonna print more
Bitcoin because I gotta pay my bills no no it’s not how it works there’s only
gonna be a certain amount of Bitcoin no matter what two or three years where
Bitcoin is at an all-time low all-time low is keeps going lower nobody’s gonna
be injecting the market with more Bitcoin they can’t just print more
Bitcoin and that’s a good thing for investors that’s a good thing
who are bullish on Bitcoin cuz it can’t just be replicated they can’t just print
more every single day and that’s kind of what we’re looking for here it’s gonna
get worse before it gets better is what I’m thinking at this point I’m not gonna
be looking at my portfolio constantly I’m just gonna be buying the dips buying
a little bit buying a little bit and just be consistent continuously buying
the dips here I think once you see the chart once you see the pattern it makes
you sleep a little bit better at night because you see hey you know this
happened before people have gone through this exact same thing that we’re dealing
with they went through this eighty percent drop before so I’m gonna be
sleeping a little bit better at night after kind of seeing this pattern and it
kind of telling myself hey we’re here long-term we’re buying the dips we don’t
care if Bitcoin goes with $3,000 I’ll still be buying I’m thinking that
Bitcoin $3,000 area is coming and then once you get to that state of mind where
you’re like hey bitcoins 1 or $3,000 nothing I can do about it
all I can do is buy more I can buy more and it’s going lower and I’ll be happy
if it goes lower I can get more there’s no way that blockchain technology
cryptocurrency is going anywhere this is going to revolutionize the world but
it’s gonna obviously be hard there’s gonna be dips it’s gonna be bad news
there’s gonna be people trying to take Bitcoin down and it’s gonna be a lot of
people hating it along the way out people telling me that I’m an idiot for
investing in this as it’s down 80% but for me I feel better about buying more
at 80% of a dip than buying at all-time high I got a pretty good average on
everything that I own I can still average down I’ve got more fiat currency
I just keep printing fiat currency I’m not worried about I can keep rinsing it
and I can keep buying some more Bitcoin there’s an idea that there could be
massive returns to come here on Bitcoin in cryptocurrency in general so I’m in
it for the long run and I’m buying the dip and I’ve just told myself hey
bitcoins gonna $3,000 if he doesn’t go $3,000 I won’t be mad trust me I won’t
be mad about it I’ll be happy but at same time I’m not gonna be sad if
Bitcoin goes to $3,000 I think that’s a good way to look at it it’s a really
good way to look at it actually so if you guys haven’t already do me one big
favor hit that like button leave a comment below what do you think how low
is Bitcoin going to go also hit the subscribe button if you haven’t already
I will talk to you guys later

48 thoughts on “BITCOIN CHART PATTERN SHOWS BOTTOM?”

  1. The lower it goes the better the opportunity to buy in low . Still waiting to see lower numbers before throwing more money at it

  2. I'm doing the same thing. Every week I put in a small percentage of my pay into crypto and Bitcoin. No guts , no glory. I've been watching and waiting for this drop, and I strongly believe it will rebound. Good luck and thanks for your video!

  3. You've got to believe. I have crap loads invested in dgb and btc from the dips. Mining dgb makes me feel great being part of the movement. I have never been happier. Thanks Patrick for all your hard work. hodl DGB hodl

  4. Looking at the charts I see 5000 first which might act as support, if not 3000 would be the next level. As ever always difficult to pick the bottom. I'm using these markers to accumulate a little more of my favourite cryptos. I might even buy some BTC if it hits 3000.

  5. Should have some strong support around 5-6k. Waiting to invest about 100k when it shows signs of reversing I believe it will ramp back up through the previous highs by early 2019

  6. INVEST in BLOCKCHAIN!!! I wonder what has the longest and most secure Block Chain out there??? #Digibyte? 🙂

  7. $2400 – $3000 you can start feathering in. But it will be a long consolidation period before next launch.

  8. "The well-known economist Rogoff sees the Bitcon at $ 100. The analysts of Saxo bank at 100 thousand, where will it really go and how can a fair value be achieved? «If Bitcoin is digital gold, underlining the word" if "because there can still be legitimate doubts, then it is widely underestimated. Let's do some rough assessment. Globally, managed assets are about 100 trillion dollars: when 2% invest in Bitcoin, even for the purpose of diversification, this would imply a price for Bitcoin of 100 thousand dollars. The capitalization of physical gold is 8 trillion: to reach a comparable level Bitcoin should reach 400 thousand dollars. Metcalfe's law says that the value of a network is proportional to the square of the number of its users: today we estimate 50 million Bitcoin investors, if we project to 350 million investors the capitalization of Bitcoin should grow 50 times. If it fails to be digital gold, its value will be reset. It is better to invest only what can be lost without excessive regret "."

    Source:
    http://www.ilsole24ore.com/art/finanza-e-mercati/2018-03-15/perche-facebook-e-google-fanno-guerra-criptovalute-risvolti-bitcoin-crollato-8mila-184628.shtml?uuid=AEfMejHE&refresh_ce=1

  9. I think the fundamentals have taken over technical analysis at this point. The demand is virtually non existent when compared with fall 2018 and early January. I thought March was a pivotal month to say where we'd go this year so I'm around 90% confident that we're gonna travel sideways for 2018 we may get a big tick up late in the year like last year but it's very possible crypto could go into another 2 or so year hibernation phase til another huge breakout. The good news is, this is another great time for the smart money to accumulate.

  10. i tihnk your wrong about the 85 percent drop it will reverse at 6k where it bottomed out twice. well see but if it drops below 5k well look for 3k but i highly doubt that will happen to many ppl will come in and invest at 6k

  11. If it hits the $3K I get my 1 Bitcoin back that I lost trying to short. I’ve been chasing price losing along the way. Now that BTC is going down I’m winning it back now. , Nice video

  12. Ok they don't issue new Bitcoins and this may only slow down the fall. So the new rise will happen by buying/pumping the Bitcoin value with USDT by injecting new fresh Tether USDT into the market without real reserve of USD? Hmm…. what a bargain. Buying into the deep is really the right move?

  13. I think the runs and drops are more dictated by fundamentals and hype and little by technical analysis. i don't think comparing technical analysis from 5 years ago is the same as now when a lot of the money invested isn't by traders or technical analysis experts but by people trapped in the hype.

  14. The absolute bottom has to be 4600-4700. It's on the last fibonacci retracement level. It will probably take some time to reach there though.

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