Time to pump Bitcoin and watch the system collapse

submitted by wallstreet from self.WallStreetBets

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[–]magnora7 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (7 children)

Bitcoin is done, for this cycle. The whole of cryptocurrency has been on decline for about 18 days now

[–]wallstreet[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

Judging by previous Bitcoin bubbles this one is just getting started. But that isn't the point of my post.

[–]magnora7 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

It may grow more in a year, but it's likely going to continue to go down for several months now

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Neh, the current financial markets' paradigm is currency value.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (3 children)

How long is this "cycle" you speak of?

[–]magnora7 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

The first cycle was 4 years (late 2013 to early 2018)

The second cycle was 3 years (2018 to 2021)

So the next one will probably be 2 years from now or so. Just look at the peaks on this graph, after you click the timescale to "all": https://www.livecoinwatch.com/price/Bitcoin-BTC

There are obvious price spike moments that occur every few years.

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

Normally when talking about BTC, "halvings" are referred to. But this "cycle" thing is new to me.

[–]magnora7 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

It's similar to business cycles in the stock market, which are typically 8-11 years.

It's especially obvious that crypto has these 3-4 year cycles if you click the "logarithmic" button on that link after you graph the "all" timescale.