Bitcoin Forum

Bitcoin Bottom 2018 vs 2022 Ft. VuMan Cipher

2018 -

1. ATH is in. (Dec, 2017)
2. Market goes down. (Mar, 2018)
3. Goes up 50% and then starts falling down. (May, 2018)
4. 68% down from Local top, bottom is in at $3.1k. (Dec, 2018)

2022 -

1. ATH is in. (Nov, 2021)
2. Market goes down. (Jan, 2022)
3. Goes up 45% and then starts falling down. (April, 2022)
4. 63% down from Local top, bottom is in at $17.6k. (July, 2022)

https://s3.tradingview.com/snapshots/3/3lcC1yoe.png

This is what makes us think that bitcoin price may not fall further, but the end of the year is still far, some people believe bitcoin price in this year will decrease further. If bitcoin falled from $69000 to $17500 and the downturn was 63% this year which is almost like the 2018 downturn, what if bitcoin fall further to $15000, which means the fall is very significant like in 2018. This will raise another question about bitcoin volatility, if it is actually decreasing or not because 2018 downturn can be compared to 2022 downturn, unlike before when the percentage price decrement volatility was decreasing until now.

3.1k in 2018 was a pretty savage low and that whole year the Dollar kept rising.  Its even higher now in FIAT terms at least even if we all know Dolalr lost value since 2018 the situation is more extreme now with the highest rating for Dollar then has existed since BTC came into existence.  On that basis I think we revisit 2019 prices, that'd be the level of upset I expect before a turn around and equally a much nicer price to capture if at all possible where as right now it may not feel enough of an opportunity low to have just missed 17k.   Maybe 17k or 14k doesnt matter and that was close enough, wont be sure till 2022 is over I think it'll be slow setting foundation.