Correct me if I am wrong. I’m pretty new to TA. This to me looks like 3 descending triangles. Isn’t normally bearish? And if so are we going to see support around the 6k mark be broken??
You should compare this to the silver chart of like 2011 onwards. It broke the bottom trend after 3 bounces and killed itself basically
Just had a look, and yeah it never recovered. I do think bitcoin will though, and I’m still bullish. It’s why I’m still here. I Just won’t be anytime soon. I hope I’m wrong.
Yeah bitcoin is a lot more useful than silver.
Got the comparison from Tone vays btw
Was about to say it’s useless compared to bitcoin. And with asteroid mining coming maybe not into the distant future. The price of these elements could drop even more.
read your comment wrong my bad
Ya I know, looks just like Bitcone. I owned silver and gold over this time period and am still hodling. I bought into all the hype. Limited resource hype. The silver partnership hype. The silver dapp hype. Silver is still growing and re-inventing itself hype. It’s a new technology and we haven’t seen mass adoption yet hype. Just LIKE Bitcoin. All of it was bullshit
Edit: for the sarcasm impaired - Bitcoin is NOT like silver
Silver isn’t anything like the tech bubble either - yet the same thing was seen.
Bitcoin dominance is on the up to 53% as the alts take a huge beating.
Yes but silver doesn’t recover like an Amazon. I did not invest in an over priced book store that had no earnings in sight. Then they thought they would sell apperal. Ridiculas! Who would buy cloths they couldn’t see live and try on. Nope these people are over the top optomistic. Though I could be wrong twice. We shall see.
I would say it recovered quite nicely from 2011