Bitcoin: A look at prior bubbles

We take a look at Bitcoin’s prior exits out of the “fair value” logarithmic regression band and investigate how high up we have gone in the past. Not every exit of the regression band takes us to the peak regression band. Do you think this one will? Bitcoin has already had one short-term bubble this market cycle this peaked at approximately $14k. Is this bubble taking us to the top? Or is it a stepping stone along the way?

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24 Comments

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  2. People’s sentiment is up so extremely much that with such a non-organic move up like this it could bleed so much more than people will expect, really wouldn’t be a suprise…

  3. Is there a correlation between (1) how much we popped out of the regression band and (2) how much we dropped afterwards?

  4. Well if you think the only best way to profit from bitcoin is by holding then you’re wrong. I make at least 0.3btc every week with Criagswright software.

  5. this is 7th week of continual growth. Historically, longest period of continual growth was no longer than 7-8 weeks. We can expect correction, every day now.
    Question is when today tomorrow on Monday?
    And how deep? -20%, -40%, -60%?
    But, even if we hit -70%, and BTC will temporarily drop below 20WMA, we will still be in long-term up-trend.

  6. If you draw a parallel channel going up on the week log scale scale BTC has reached the top and shows has reached the trophy of trend line also measuring the first Elliot wave from 3150 on Bitstamp to 4216 to wave 2 at 3328 then wave 3 hits on fib extension 4.168 (13,750), wave 4 at $ 3805 and the fifth wave amazingly enough is fib ext. 5.618 at $18,707. I would think that BTC needs to consolidate.

  7. Last time bitcoin started moving up like this it was at 4K in 2017. Then it went all the way to 20K.
    Bitcoin is very irrational on its move up

  8. Ben I really like your technical analysis thank you. But maybe it will be even better if you implement fundamental changes. considering there is a pandemic going on/inflation increasing etc.

  9. Things are different this cycle, there will be no such thing as support, no such thing as resistance, things are about to go bananas.

  10. Put it on a Log chart and draw a price channel from the 2013 to 2018 highs and lows. Project that out in time and you will see how it could easily hit 250-300k in a year or so….

  11. Remember me now I don’t want to come out once price hit 500k in 2 years. I love all the hard work u putting out here educating people but I don’t believe in this chart because bitcoin going to rewrite history

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