Has Bitcoin Bottomed Yet? - Let's Look at the Data

in cryptocurrency •  6 years ago 

This is the fundamental question on everyone's mind right now. I thought it would be worth addressing this using some of Willy Woo's brilliant data. Let's take a look!

DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.

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I Still think the base value of Bitcoin is doubling every year.
I actually consider this latest dip an extremely bullish sign because it's bouncing off that support line.


2013201420152016201720182019
$100$200$400$800$1600$3200$6400


JanFebMarAprilMayJune
$3467$3733$4000$4267$4533$4800
JulyAugSeptOctNovDec
$5067$5333$5600$5867$6133$6400

Bitcoin has bottomed imo.

Unfortunately my track record of being overly bullish is quite transparent.

Some good information there, for me if it drops below $3000 I’ll start in small to buy. Cheers

I don't think we have reach the resistance bottom level for Bitcoin yet, I still want to beleive that the market and Bitcoin in particular will plunge in price for another short period before it will finally increase fully in price when there will be massive adoption of Bitcoin as a global currency

This is great information and data points to consider but I believe we are close but still a ways out because of the amount of speculation still built into the valuations of most crypto.

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Making regular buys as long as it stays below $4000.

I think it will continue to lose value for the next few months. I could be wrong though..