If your faith has been shaken in bitcoin, check out this chart!
This has been a very rocky time to be a bitcoin and crpyto investor.
Undoubtedly many have questioned whether they really are investing in the next great technology or just have been taken for a ride by greedy crypto whales.
While it still can't be known for certain which one it is just yet, there is something that every bitcoin investor should be aware of...
And that is this:
Did you know that since bitcoin first began, it has had 5 different 10X rallies and subsequent pullbacks?
Going a bit further...
Did you know that every time bitcoin has gone up by roughly 10X, it has had a pullback, only to go on to make another 10X move and see new all time highs?
And it has happened 5 different times in the last 9 years!
Don't believe me?
Check this chart out:
(Source: https://seekingalpha.com/article/4225938-time-wake-smell-bitcoin?page=5)
Looking at this chart we can see a pattern start to emerge.
Basically, every 2 years bitcoin goes on a 10X rally and then pulls back significantly. Once the pullback is complete it goes on to rally 10X again.
And in most cases the next 10X rally starts from the previous highs!
That means that even if you bought the highs you still made 10X on your investment over the following 2 years.
Not sure about you, but that is a pretty significant piece of information!
Remember, past results doesn't necessarily predict future results...
The catch to all of this is that of course there is no guarantee that history will repeat itself, in fact history rarely if ever repeats itself exactly anyways.
However, we have seen this happen 5 other times in the past already and for it to not happen this time would mean this would represent the "but this time it's different" line of reasoning.
For those familiar with investing, those are very dangerous words to base investments on.
Again, doesn't mean we will see a 10X return from the previous all time highs, but if bitcoin were to follow its historical patterns, we sure could!
Stay informed my friends.
Follow me: @jrcornel
@jrcornel KEEP CALM and RELAX ..... BITCOIN DEFINITELY JUMP 10X
That is what history tells us. The only question is, when?
@jrcornel Soon Bro ... Very Soon
@jrcornel For now buy some XRP ... it will get a jump soon
What makes you think that?
@jrcornel Charts Bro ... TA ..... Xrp gonna xplode ..
Haha, most of the charts look pretty similar in crypto land. Though I will admit, XRP chart does look slightly better than most.
@jrcornel .... hahahaha ..... wait for the explosion
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So while past performance does not repeat itself it could be said that they seem to rhyme! Hope so!
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Haha yep. It does't often repeat exactly, but it often rhymes!
So Bitcoin $200,000 by the end of 2019!
That kind of math works for me!
You need to discover the pattern that repeats. That's the trick. For indeed history does rhyme if you can see the meta-narratives threading through it all.
And there have been some interesting patterns throughout bitcoin's history. Though never has it had this much money involved, been this much in the media, or had a futures market attached to it. Things that may or may not make this one play out a little differently.