What should you do? You have opportunity of a lifetime now. This guy here predict bottom will happen only a year from now that means you have 2 whole years to buy Bitcoin cheap. You sort of cant miss it unless you are totally ignorant. But his prediction is most pessimistic of all I read so far. Some even predict that bottom already happened and in that care you dont really have much time left for your opportunity of a lifetime. Because if bottom already happened last week, we will see slow growth starting already at the end of the year or the beginning of next year.
The analysis thus far suggests the cryptocurrency bear market is likely to conclude by late 2019 or early 2020.
The expected decline is approx +90% from the all-time $20,000 high set on 17th Dec 2017; i.e. approx $1000.
As of writing, July 2018, the decline is at approx +60% —so just over half-way through yet.
This is based on historical manias:
—
http://www.thebubblebubble.com/historic-crashes/—
https://en.wikipedia.org/wiki/List_of_stock_market_crashes_and_bear_marketsThe majority of cryptocurrencies currently hovering around $2 billion marketcap are likely to become delisted before hitting zero:
https://deadcoins.com/It is difficult to project whether or not Bitcoin survives the crash.
Commodities and currencies and assets deemed as a store of value, unfold in corrective ABC Elliott Waves in both bull and bear markets. Whereas assets such as stocks based on earnings unfold in 12345 impulsive Elliott Waves in bull markets, and corrective ABC Elliott Waves in bear markets.
Bitcoin and the popular cryptocurrencies have unfolded in 12345 impulsive Elliott Waves in bull markets, and corrective ABC Elliott Waves in bear markets. Hence, cryptocurrencies aren't by behavior working like currencies nor commodities; and so therefore in their current nature, shall never be adopted as mediums of exchange for goods/services or as a storage medium of value.
Quite possibly, a second generation of viable cryptocurrencies may emerge post 2020. Either way, the days of speculative parabolic price curves in the cryptocurrency markets is over, and any hopes of a return to $20,000 is foolish hodlr's fodder.
