This is the result in the drawing of some free hand trajectories.
With names like DanV predicting sub 300 prices as well, and with consideration of the last rise to 680. This might just be the perfect bubble in the making.
And looking at it from this perspective, really not that far fetched.
Taking the current Fundamentals in combination with relative sentiment into account. There really isn't a whole lot to be bullish about in the mid- (1-5 month) term.
for a 6 month forecast **in bitcoin-land**, this has been so spot-on it's spooky
LifeIsABullTrap
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It also seems to be the case that general sentiments subsides a lot slower than was originally expected.
Originally it was expected that the 994 peak in January was the bull trap. Seeing how fast sentiments had risen in november and december in a bullish fashion. Because of this it was also implicitly expected that the bearish sentiment that followed would subside very quickly after this.
However, the bullish sentiment largely didn't dissapear, even after the bubble-pop. What we are seeing now is bulls coming to their senses and realizing the market and bitcoin fundamentals in general (like adaption) is not a matter of weeks or months but easily 1 to 2 years. Slowly making a lot more bulls (at least mid term) bearish. And subsequently explaining and creating the perfect bubble pattern we see above.
Markets really are emotion. Collective emotion just changes a lot slower than individual traders tend to expect.
tradermojo
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Can you make a new one for 2017 please
filbfilb
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we need to know what happens next Nostradamus!
FoxTrading
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after 2 years still accurate
NightWish1
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This is absolutely incredible, you have been spot on even with your scribbly, i can do nothing less than to bow to you! Amazing!
LifeIsABullTrap
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This was literally the most obviously easy way things could turn out (as in: I'm not a genius). And, they did.
MEKhoko
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Any chance you'd post an updated chart with the same trendlines or a side-by-side? This is great
MEKhoko
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Nm
yerb
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And Bitcoin was considered a joke back then, the perfect bubble shows it is not after all. What's interesting here is that when you throw an instrument to the masses the same psychological pattern occurs, like it was mathematically inevitable. All natural systems seem to have this pattern, be it rats, bacteria, fungus... When there is blind force at work, this is the result,.. so much about human intelligence. :)