Bitcoin could Crash by 75% in 2018 – If this happens…

Technical Analysis and Trading Ideas

Bitcoin could Crash by 75% in 2018 – If this happens…

 

Bitcoin could Crash by 75% in 2018 – If this happens…


Some time ago, I shared the comparison between Gold 1998-2012 and how that pattern resembles the price pattern of Bitcoin during 2017. Gold crashed by 50% once the high was set.

In this update, I want to share the pattern of Silver 2006-2012 and show you why this pattern is an imminent risk to all the Bitcoin lovers (including me. Disclaimer: I sold 75% of all crypto assets over the last few weeks, as I’m very satisfied with the gains and I believe that a 20% allocation of total assets to cryptos is a bit too much. Now, I have a 5% weight remaining, for the long term. I raised the cash levels to take advantage of the expected decline and I also took some short positions Bitcoin in my trading/hedge account at eToro).

Let’s take a look at the chart.


 


 

 

SILVER vs BITCOIN


Both patterns show a vertical move up, after nr. 5 (a few days of back and forth) was resolved.

Whenever price goes vertical, after nr. 5 and into nr. 6, it’s simply a matter of time before gravity kicks in.



 

Bitcoin Prediction 2018


Based on the pattern of Gold (-50% once the high was in after the vertical move up) and the pattern of Silver (-75%), I would say the target for Bitcoin could be somewhere betweenĀ 16.600 * 0.5 = $ 8.000 (Gold copy) andĀ 16.600 * 0.25 = $4.150 (Silver copy).

These targets also align with my monthly chart pattern, which warns us that a 75% crash is coming.

 

Bitcoin 2018 prediction: $4.150 – $8.000




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