Bear market? Worst Case Scenario For Bitcoin, CryptosteemCreated with Sketch.

in #bitcoin7 years ago

Worst Case Scenario

This is the long term chart of Bitcoin.

That straight line is my trend line.

I think we're still in bull market. There is still so much hype, speculation and positivity in this market. I think we'll go up.

But if we've entered a bear market, the trend line is the bottom that we would reach over the coming months.

Most crypto's like Cardano, DASH, NEM, EOS are almost exclusively traded in Bitcoin. Bitcoin goes down, everything goes down.

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Keep in mind that this chart is logarithmic and not linear.

Yes.

Logarithmic gives a more fair long-term viewpoint in my opinion because it shows percentage gains.

That’s nice chart analysis dude :) good technical stuff

Coins mentioned in post:

CoinPrice (USD)📈 24h📉 7d
ADACardano0.687$34.83%-4.76%
BTCBitcoin11681.900$15.02%-15.21%
DASHDash876.984$25.44%-15.17%
EOSEOS10.700$22.94%-6.33%
XEMNEM1.117$39.24%-18.8%