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RE: Why BITCOIN will dump to $2800 the coming weeks

in #bitcoin7 years ago

Thank you for the analysis.

One thing I would caution with the comparison between gold and btc, gold was a mature market while, many believe, btc is just in its infancy. Sure a pull back is in order and 30% is nothing in the btc world. That said, I am not sure we can draw the correlation.

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Indeed there are some millennia of maturation differences ;) between them, but I think trading patterns do not directly follow these guidelines. That said, I do think other (younger) cryptos have way too less market cap to perform any trustworthy​ technical analysis on. From a technical perspective, I do feel BTC is a mature market at the moment, ETH is on its way.