2018 Cryptocurrency Crash (Elliott Wave)

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2018 Crypto Crash, Elliott Wave

"mooning... to the dark side of the moon"

• Cryptocurrency bubble appears to be over, and a spectacular crash and bear market seems imminent.
• Bitcoin may bounce towards approx $15500 on Bitfinex, followed by a crash towards $7000-$8000, and then eventually to $2000-$4000.
• Majority of other cryptocurrencies may cease to exist.

• Reddit: https://redd.it/7ptsg3, https://redd.it/7z8u6n, https://redd.it/913xx6
• TradingView: https://uk.tradingview.com/u/stevepuri/#published-charts

• Roadmap of popular currencies are below; indicative of price and structure, not time.

     BTC: https://i.imgur.com/ebLhct6.png
     BCH: https://i.imgur.com/YGZTuYl.png
     ETH: https://i.imgur.com/BeyiUvO.png
     ADA: https://i.imgur.com/04DJsxu.png
     DSH: https://i.imgur.com/sBZ3PXK.png
     EOS: https://i.imgur.com/EXDLSa1.png
     FCT: https://i.imgur.com/AyFrlfF.png
     IOT: https://i.imgur.com/NuAlqyJ.png
     LTC: https://i.imgur.com/YIMxFXD.png
     NEO: https://i.imgur.com/QlxiWSf.png
     RDD: https://i.imgur.com/h2ilqGz.png
     TRX: https://i.imgur.com/JzAt5Ze.png
     XEM: https://i.imgur.com/XP9TUiU.png
     XLM: https://i.imgur.com/QbBGKok.png
     XMR: https://i.imgur.com/DuOtygt.png
     XRP: https://i.imgur.com/3l1BoP6.png
     XVG: https://i.imgur.com/BQh6vPD.png
  
     Much obliged if somebody with a more established account can properly paste the above temporary linked images into the forum here —would be good to see if the analysis stands the test of time!

     P.S. It is most unfortunate that people of Reddit have chosen to bury, down-vote and delete all posts of this subject matter! Losses could be prevented and gains donated to charity!
    

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[Bloomie]

Why are you here spreading FUD? I don't get people like you. Go away.

[d5000]

It's possible, although I believe $2000 is unlikely already ($4000 is something I even expect some day).

• Majority of other cryptocurrencies may cease to exist.

I don't believe that. In 2013-14 we had a much worse situation than "$2000-4000". But a very large number of cryptocurrencies from pre-2014 survived, and they're all still waiting for a pump - look at PACCoin

[Slow death]

 

• Cryptocurrency bubble appears to be over, and a spectacular crash and bear market seems imminent.
• Bitcoin may bounce towards approx $15500 on Bitfinex, followed by a crash towards $7000-$8000, and then eventually to $2000-$4000.
• Majority of other cryptocurrencies may cease to exist.

 

• https://www.reddit.com/r/Bitcoin/comments/7p2bwq/2018_cryptocurrency_crash_elliott_wave/

 

 

Unbelievable, how can you dare to publish so much pessimistic thing?

when the price was  $2000 did not have much adoption and even the marketcap was very low, today everything is very different


Bitcoin - It’s Big in Japan
Binance, Bitfinex, Bittrex Temporarily Say No to New Users
New York Stock Exchange Moves on Bitcoin ETFs
Combined Crypto Market Capitalization Races Past $800 Bln
Bitcoin Adoption by Businesses in 2017
Bitcoin Destined For $28,000 In 2018 - Moas

On DEC 17, 2017

Bitcoin Hits $20,000 Per Coin, Capping Year of Enormous Growth

This year will be another good year for bitcoin

[nl247]

Another naysayer on the loose or rather, may I say another whale looking for noobs to feed on and then spreading FUD to see how they can manipulate the market to their favor. We have heard bullshit like this so many times, so opening a new account to spread your FUD is really not going to do you any good. Better get a good job. Moreover, who cares? If you wish to sell your bitcoin to any of us at the prices you stated, then we will be glad right now to pick it up from you.

[NUFCrichard]

Meh, if the price falls to where it was 10 months ago, that isn't the end of the world!

If the majority of Cryptocurrencies no longer existed, I really think the crypto world would be better off. There are probably a maximum of 25 worthwhile coins, the others are copies and crap, even if they are worth over $1 billion!

The prices won't go up forever, but I am more confident of the crash being controlled now, than I was 6 weeks ago when everything was going crazy!

[faatipoke]

can someone post an actual image of that chart, I can not look it in reddit or imgur.

As I see in low quality photo this elliott wave analysis is wrong. Waves can not be that sharp. We are in the fourth correction inside the third rising wave. This will end in one to three months and we are going to start the fifth and the final rising of the bitcoin in the big third rising wave. This final is not the end because we are going to have another big fourth correction and big final rise up to hundreds of dollars, maybe the era of the cryptocurrencies.

This is what the best analists and me say

[cellard]

People have been using the "bubble chart" since Bitcoin hit $2000 after the $1000 peak during the MtGox peak.



We have been seeing that for years now, and Bitcoin has proven a million times how classic technical analysis just doesn't apply to Bitcoin. Keep thinking you can predict the market, sell your BTC position, then cry when we hit an all time high next month again.

[babygun]

People have been using the "bubble chart" since Bitcoin hit $2000 after the $1000 peak during the MtGox peak.



We have been seeing that for years now, and Bitcoin has proven a million times how classic technical analysis just doesn't apply to Bitcoin. Keep thinking you can predict the market, sell your BTC position, then cry when we hit an all time high next month again.

Exactly, some people think they can predict bitcoin price with some nice statistics and graphs, but bitcoin (and other altcoins) follow their own route.

[btcone111]

bitcoin has indeed proven TA wrong again and again since the rally from $6K to $20K.
Having said that, I'm not surprised if btc revisits $8K

[fabiorem]

Another day, another FUD operation.

[cindygirl]

 

• Cryptocurrency bubble appears to be over, and a spectacular crash and bear market seems imminent.
• Bitcoin may bounce towards approx $15500 on Bitfinex, followed by a crash towards $7000-$8000, and then eventually to $2000-$4000.
• Majority of other cryptocurrencies may cease to exist.

 

• https://www.reddit.com/r/Bitcoin/comments/7p2bwq/2018_cryptocurrency_crash_elliott_wave/

 

I don't think that other cryptocurrencies will ever cease to exist, even worst case scenario I'm sure that in time the market will recover, there is too much promise and too much good for the market to ever disappear entirely.

[Alns]

Wow, are there still people who believe in that bitcoin will crash at some point? And if bitcoin crashes, the other altcoins will be much more stronger as what they are right now.
Maybe at the beggining a lot of people are going to be worried about that, but at some point, everything needs to move forward, if bitcoin crashes, another altcoin will replace it.
And no, i am not worried about that, and for those who are saying that bitcoin will crash, i guess that you did not even bought a single fraction of bitcoin on your whole lifes.

[Qoheleth]

when the price was  $2000 [...] even the marketcap was very low

You do realize that the market cap is just the price times the number of coins in existence, right? Of course the market cap will be lower when the price was lower.

Wow, are there still people who believe in that bitcoin will crash at some point?

I mean, it's happened before.

After the 2011 bubble (peak ~$30/BTC), we spent quite a few months in the single digits.
After the 2013 bubble (peak ~$1000/BTC), we spent over a year in the $250 neighborhood.
I would call those "crashes".

So why is a crash now unbelievable? Even a crash to $5000/BTC or so?
Doesn't mean that "Bitcoin is finished" or whatever. Just that the price is lower (comparatively) for a while.

if bitcoin crashes, another altcoin will replace it.

This much is probably true, even if only temporarily. The Ethereum price, f'rex, is growing pretty rapidly right now, even with other coins taking a bath. Bitcoin isn't the only game in town anymore, so even people getting out of one cryptocurrency can just move to another.

[fabiorem]

How can this memeliott wave be applied to bitcoin, with all the technology behind it?

Bitcoin is not just a stock, its not Pajama Papers. Its a technological innovation which, if sucessful, can dethrone Visa-Mastercard oligopoly on payments.

[IL.Guerreiro]

There is always a fake news like this. I believe what will never survive is this news but cryptos will always be. 

[cellard]

You do realize that the market cap is just the price times the number of coins in existence, right? Of course the market cap will be lower when the price was lower.

It's one of the main reasons why all these shitcoins are a total joke. For example, Ripple, and all these premined scamcoins, create an huge supply of coins, and if someone buys just $1 USD worth, the huge premined supply will now become the marketcap at a vlue of $1 USD each.

So a shitcoin generates 100,000,000,000 tokens, someone buys $1, and now the marketcap is $100,000,000,000, it's a total joke. Coinmarketcap is so misleading to newbies that think Bitcoin has real competition. All of these shitcoins have manipulated supplies with very dodgy history behind like developers burning coins in purpose, generating them, airdropping them... it's nuts.

[cindygirl]

You do realize that the market cap is just the price times the number of coins in existence, right? Of course the market cap will be lower when the price was lower.

It's one of the main reasons why all these shitcoins are a total joke. For example, Ripple, and all these premined scamcoins, create an huge supply of coins, and if someone buys just $1 USD worth, the huge premined supply will now become the marketcap at a vlue of $1 USD each.

So a shitcoin generates 100,000,000,000 tokens, someone buys $1, and now the marketcap is $100,000,000,000, it's a total joke. Coinmarketcap is so misleading to newbies that think Bitcoin has real competition. All of these shitcoins have manipulated supplies with very dodgy history behind like developers burning coins in purpose, generating them, airdropping them... it's nuts.

If it's part of the circulating supply then how is that a joke? The only scenario I could see is if circulating supply is actually reported at about say 1m but founders tokens are circulating (for example) but there's no way they'll be sold. But this is the same for bitcoin and satoshi's holdings.

[CryptoCoinNews]

what do you reason if bitcoin price can down until reach 7k - 8k dollar
i think if down price still above 10k dollar

[leopard2]

sell, SELL!!! This time Bitcoin is dead for sure, Buffett is saying the same thing and Jamie Dimon, this is the end!!!