Bitcoin 2018 vs 2022

[pooya87]

I've said this a million times now and will repeat it again each time another person makes the same mistake again.
You don't get to compare the dump part if you are not comparing the rise part. The huge drops in 2018 happened because price had gone up 13233% you can't expect the same drops and claim the charts are the same while you haven't even looked at the whole cycle to see that this time price only went up about 2056%.

That is 11000% smaller.

This is how the rise part of the cycle looks in comparison:

[Nrcewker]

I am expecting another 40% drop in the price and will call that bottom of the cycle.

last year people drew charts comparing bitcoin in 2017 with bitcoin in 2021 and expected price to reach all kinds of high prices all above $100k.
it didn't happen.

what i'm trying to say is that history does not repeat. and these two charts don't really have that much in common either.

People are doing all here is just assumptions.
They don’t really see the real trend that Bitcoin is following.
Don’t know about the History, but when Bitcoins have fell the market, soon within shorter period of time it recovers and sometimes it breaks his all time high.
This might be the indication from Bitcoins to buy, as it’s the perfect time when Bitcoins will start pumping again.
I too don’t see much similarities between 2018 and 2022, but yes I feel Bitcoins will break the record this year.
Let’s see what other people think about my opinion.

[Lubang Bawah]

The current price of bitcoin which is around $ 33k certainly surprised me, I did not think that the price continues to fall, the other side that makes me surprised is that at this time more and more countries open tenders to legalize bitcoin like Panama and the Republic of Central Africa, of course this has become a big test for us.

[cabron]

The current price of bitcoin which is around $ 33k certainly surprised me, I did not think that the price continues to fall, the other side that makes me surprised is that at this time more and more countries open tenders to legalize bitcoin like Panama and the Republic of Central Africa, of course this has become a big test for us.

Just when we thought another country adopting BTC as legal tender and the price will go up, seem doesn't count now because in TA this bear is testing the lowest support in 2021. And if it breaks out, everybody might just jump out panicking to sell. This test is not for the holder with  weak constitution.

The price this morning when I wake up I think was still $35k. Just think about it if this bear market continues another year before we see the light, how much will the price be?

[el kaka22]

I 100% agree that it is similar now. I used to say that it wasn't that much similar, but now I agree that it is quite similar to that year. I know that we are not down 90% or something like that just like we were in 2018, but there are some coins which are down that much, and the ones who aren't down that much, aren't far off, and the drop may not be over just yet, maybe it will fall even more.

I remember 2018 and we were down from 20k to 3k levels in a week, it happened in a whole year, we were around 6*8k until November and then it dropped under 4k levels, so maybe after the summer we would have another strong fall, who says we won't? There is no way of knowing.

[ImThour]

I 100% agree that it is similar now. I used to say that it wasn't that much similar, but now I agree that it is quite similar to that year. I know that we are not down 90% or something like that just like we were in 2018, but there are some coins which are down that much, and the ones who aren't down that much, aren't far off, and the drop may not be over just yet, maybe it will fall even more.

I remember 2018 and we were down from 20k to 3k levels in a week, it happened in a whole year, we were around 6*8k until November and then it dropped under 4k levels, so maybe after the summer we would have another strong fall, who says we won't? There is no way of knowing.

Glad someone is willing to accept that they were wrong in the past and now wants to follow the correct idea.
I made a post on 26th Jan 2022 saying BTC will touch the 200 Weekly moving average, I remember it was laughed off by "Legendary" members lol.
As always, I post what I see, IDC about others perspective. Let's see where we go.

[GreatArkansas]

Nice chart, glad to see a chart like this, looking also the other side. I wish I still have sMerit.

Btw, this is always possible, seems the strong support is the previous all-time-high the one before the huge bear season 2017-2018.
But we should also consider the volume we have now and the adoption of Bitcoin there are already some big players already positioned and I am also thinking if they will be able to let that happen where Bitcoin may reach some cheap price, but then again, everything is possible.

[fzkto]

I think this year is more like 2020 than 2018. Today's altcoin sell-off reminded me a lot of March 2020. And so far bitcoin has not dropped much yet. It's scary to imagine what will happen to the market if bitcoin drops to 20k as many are suggesting. Most likely 2022 will be different from 2018 and 2020. By the way, there is a two-year cycle of declines so far.

[Silberman]

The current price of bitcoin which is around $ 33k certainly surprised me, I did not think that the price continues to fall, the other side that makes me surprised is that at this time more and more countries open tenders to legalize bitcoin like Panama and the Republic of Central Africa, of course this has become a big test for us.

It is not really that difficult if you have been in this position before, after all the people that bought their coins during the 2017 bull run are still having massive profits and even those that bought at the ATH back then still have a significant amount of profits, the ones that are worried are the ones for which this experience is new and that bought at prices way higher than what we are seeing now, but as long as you can hold your coins you will eventually have profits once again.

[ImThour]

Nice chart, glad to see a chart like this, looking also the other side. I wish I still have sMerit.

Btw, this is always possible, seems the strong support is the previous all-time-high the one before the huge bear season 2017-2018.
But we should also consider the volume we have now and the adoption of Bitcoin there are already some big players already positioned and I am also thinking if they will be able to let that happen where Bitcoin may reach some cheap price, but then again, everything is possible.

Glad you liked it. 200 Weekly Moving Average is at $21.8k and I am sure, we will touch that.
Gave you some sMerit though, haha.

[justdimin]

It is not really that difficult if you have been in this position before, after all the people that bought their coins during the 2017 bull run are still having massive profits and even those that bought at the ATH back then still have a significant amount of profits, the ones that are worried are the ones for which this experience is new and that bought at prices way higher than what we are seeing now, but as long as you can hold your coins you will eventually have profits once again.

2017 is not the perfect example to give, or even saying that if you bought at the peak, you will still profit in the future. None of these matters when the prices are this low because people keep thinking I could have bought more than double the amount of bitcoins I could have bought if I just waited a bit longer and not bought when I did.

Instead, you could always praise DCA, which means you could buy at 68k, but average it down to under 45k if you buy the same amount at 30k, that way you will be getting to profit quicker, instead of calming down, suggest an alternative method to do something instead of doing nothing and waiting for it to go up again.

[19Nov16]

What I felt until May 2022 was worse than January to May 2018, at that time the market was still moving positively and Bitcoin only dropped around 20%, but in 2022 the price had dropped more than 50%, I only hoped that this large storm would soon end and The market can skyrocket again as happened in the end of 2021.

[sunsilk]

What I felt until May 2022 was worse than January to May 2018, at that time the market was still moving positively and Bitcoin only dropped around 20%, but in 2022 the price had dropped more than 50%, I only hoped that this large storm would soon end and The market can skyrocket again as happened in the end of 2021.

What happened in 2018 was much worse. But this year hasn't ended yet and maybe the worst scenario is yet to come.

With the recent plummet, if we're going to compare it from how it was like stable on $40k$-45k. There's sort of 50% slashed on the price and it could really go for more.

The exciting part should come by next week and if it hasn't recovered, it will totally shake the market and kick the weaklings out of it.

[philipma1957]

40% drop right now would put Bitcoin at $20,000. That's the top of the previous cycle. Bitcoin never fell to the price level of the top of the previous cycle. Of course there's a first time for everything, but purely from the long-term trend, it is unlikely. The bottom of this cycle should be much higher than $20,000 - somewhere at $27-29,000. Maybe it will briefly touch $25,000 if there's some foreseen event that could cause such panic.

well we blew past 26k

25.3k on coin base and a few other exchanges.

so a brief touch near 25k is in

lets hope that is the bottom.

[hugeblack]

Glad you liked it. 200 Weekly Moving Average is at $21.8k and I am sure, we will touch that.
Gave you some sMerit though, haha.

This scenario in this topic started to scare me, so I hope it is not true, I still see that we did not complete the top of the cycle to talk about bear period (70%-80% correction) and therefore we test the bottom of 28k before there is a rapid rise to levels above 70k in 90 days.

In general, I may need to recalculate after reading this topic in detail, but are there seriously chances of a drop below 26k?

so a brief touch near 25k is in

I don't know, but it's here at 28k

[GelatikKembar]

Bitcoin has dropped to $27k and has even touched $24k on Binance, of course this is a pain,
but the OP has provided very helpful information, and I thank you, we can see $20k will be Bitcoin's strongest support and we everyone hopes that,
but indeed if you want to take the risk, don't forget to put the stop loss and stay calm

[speedy963]

Great chart. Although not completely disregarding the possibility, I honestly thought a few weeks ago that it was quite impossible to get near let alone go below 35k but it did and just went lower and lower. Right now we are at 28k and about to go to lower again at 27k+. A couple of hours ago, we went as low as 26k+. This sell pressure is quite worrisome and as much as I hate it, your prediction may really happen. I just hope that when it does, a bounce will also follow to signal another bull run and not just another long term back and forth movements on several price ranges.

[ImThour]

In general, I may need to recalculate after reading this topic in detail, but are there seriously chances of a drop below 26k?

It already dipped to $22k on KuCoin BTC/USDC pair.
$24.5k on Binance. Not sure what are you talking about.

[Sebas.tian]

Bitcoin has dropped to $27k and has even touched $24k on Binance, of course this is a pain,
but the OP has provided very helpful information, and I thank you, we can see $20k will be Bitcoin's strongest support and we everyone hopes that,
but indeed if you want to take the risk, don't forget to put the stop loss and stay calm

The decreased of bitcoin has caused a lot of panic to those sellers who are planning to sell their bitcoin in this month of May to improve their businesses and other things in the community. I think, it will be difficult for bitcoin price to hit $100,000 this year 2022, because the price has dropped to $27,000 that made many people to hold their coins not to experience losses from the market. I believe the price of bitcoin will not decrease more than $27,000 because the price is preparing to move back to $45,000 before the end of this month to allow people to recover from their losses they experienced from the market early this year.

[Kelvinid]

Bitcoin 2018 vs 2022:

I have not figured it out and never anticipate the drops. Maybe not just me but I assume that many people never see its close similarity.
Yeah, we could expect more drops in the coming days but we can also possibly pump. Neither the two who come first I'm sure that nobody is able to see it in advance. This is the reason why I usually do not consider the past to happen again, not even to believe history repeats itself as I was very certain the people have already changed their trust and mindset towards crypto which affects the behavior of the market.