how much lower can Bitcoin go talking about in this video my idea my theory on
why I think Bitcoin still has some downside to go here and then kind of
talking about why I think Bitcoin might hit a certain percentage drop before we
find a bottom looking at the Bitcoin sharpness video and talking about the
price I think Bitcoin might hit before we return to a bull market so stay tuned
to find out what my theory is and what price Bitcoin might hit varies
what's going on guys Patrick here today we're talking about Bitcoin really it's
like Bitcoin crypto currency so when I talk about Bitcoin I'm basically talking
about the cryptocurrency market it really all just depends on Bitcoin right
now so we're looking at Bitcoin as basically the macdaddy the one chart
that everybody else is following looking at the Bitcoin chart back in 2013 had
this big move up here to the 300 dollar Erie it crashed had a big crash big
sell-off trying to lower to the lower and finally the reversal kind of started
there at the $60.00 area so from $300 to the $60.00 area about an 80% drop 82%
around there we started to move from $60 started to crank up crank up November
went from 200 $4,200 area up here to $1,200 so this would have been a 2000
percent move here on Bitcoin back in 2013 so you had that 82% drop there in
the beginning of 2013 and then after that you had a 2000 percent move from
that bottom there and 2013 so massive move there from $60 up there to $1,200
well what happened after that all-time high there in 2013 after that it was
basically another big kind of sell-off massive sell-off after that and you can
see what happened so from that 12-hour area look at this looks pretty much
exactly the same as today's chart on Bitcoin you can see from the 1200 our
area where did it go boom down here to a hundred and fifty dollars another 85%
move and then finally we kind of a bottom there at the hundred
sixty hundred fifty dollar area it took about a year took about a year 2015
before we really broke back out of that and then I'd say probably the end of
2015 this started to move higher so all the 2015 it really just was a bear
market 82 percent dropped 2000 percent move 85 percent dropped 11 thousand
percent move up there to the $20,000 area two years later the runs have been
getting bigger the drops have kind of stayed the same so I'm thinking right
now we are at about 70 percent drop from the all-time high
so from $20,000 to $6,000 is around a 70 percent drop now to get that full 80
percent drop 85 percent area we would need to basically get down there to the
$3,000 area then we'd kind of be at that 85
percent drop which is kind of where we were the last two times that the market
kind of sold off and then returned to a bull market most of the time these
patterns repeat themselves and obviously this theory is kind of looking back in
the past what has happened in the past what patterns have we seen before and
look we saw that drop 85 percent we saw the 2000 percent move we saw another 80
percent move and then we got an 11 thousand percent move what's happening
once again we're getting another 80 percent drop so 85 percent area would
put us there at the $3,000 area on Bitcoin plan is kind of planning that
Bitcoin could drop down here to the $3,000 area to kind of repeat that
pattern now I'm not an expert when it comes to technical analysis stuff like
that charts and all that people draw crazy lines all over place but clearly
you can see the pattern here by looking at the Bitcoin chart it's very clear big
draw big drop big run big run and now what happened again we're getting
another big drop we're probably gonna see the six thousand dollar area not too
sure we're gonna see three thousand dollar area but it could happen the one
thing that I am bullish about here is that a lot of infrastructure is being
built on top of the blockchain world Bitcoin world more people are building
on top of the idea of blockchain revolutionising the world than ever
before so back in 2014 we had a 2,000 percent move Bitcoin was still a very
bare young it was very kind of unknown and
then you know last year when we had this big major move we really had a lot of
new investors a lot of people coming into the game new websites got new
people with large pockets that are getting into this cryptocurrency space
you had a lot of things going on right now so next big move could be you know
twenty thirty forty thousand percent move from that low if you look at this
chart and that's not to say that's gonna happen tomorrow or the day after or the
month after or the week after or the month after the year after but long term
you know two three four or five years whatever this is gonna be whatever this
charts gonna be you can see in the beginning of 2013 we had that sell-off
which is about six months and then it rallied back as much as I hate to say it
we could be stuck in this kind of bear market for the next year or so or even
more you know two years so my game plan really is just by big sell-off stew just
by a little bit by a little bit by a little bit continuously
and just kind of build my portfolios by coins that I like I'm buying digi buy
I'm looking to buy some more Bitcoin if it gets down to 3,000 our area I'll
definitely load up on some more bitcoins stuff like that but overall this is a
long-term play I'm looking for long-term two three four years at this point and I
like to buy the dip hard here and that's kind of my plan I'm looking at this
chart I'm seeing the pattern and I'm thinking hey seventy percent discount
here with the idea that we could possibly see another wave that is
similar to these waves I mean that would be an amazing return if we haven't found
another bull market by 2020 all hope might be lost but overall you can
clearly see their pattern here that we have had these pull backs but each pull
back has been met by a much much larger run after that you know the good thing
about Bitcoin is no matter what it's still limited they're not gonna be able
to create more nobody can just print more Bitcoin even if bitcoins crashing
it's not like hey I'm gonna print more Bitcoin because I gotta pay my bills no
no it's not how it works there's only gonna be a certain amount of Bitcoin no
matter what two or three years where Bitcoin is at an all-time low all-time
low is keeps going lower nobody's gonna be injecting the market with more
Bitcoin they can't just print more Bitcoin and that's a good thing for
investors that's a good thing who are bullish on Bitcoin cuz it can't
just be replicated they can't just print more every single day and that's kind of
what we're looking for here it's gonna get worse before it gets better is what
I'm thinking at this point I'm not gonna be looking at my portfolio constantly
I'm just gonna be buying the dips buying a little bit buying a little bit and
just be consistent continuously buying the dips here I think once you see the
chart once you see the pattern it makes you sleep a little bit better at night
because you see hey you know this happened before people have gone through
this exact same thing that we're dealing with they went through this eighty
percent drop before so I'm gonna be sleeping a little bit better at night
after kind of seeing this pattern and it kind of telling myself hey we're here
long-term we're buying the dips we don't care if Bitcoin goes with $3,000 I'll
still be buying I'm thinking that Bitcoin $3,000 area is coming and then
once you get to that state of mind where you're like hey bitcoins 1 or $3,000
nothing I can do about it all I can do is buy more I can buy more
and it's going lower and I'll be happy if it goes lower I can get more there's
no way that blockchain technology cryptocurrency is going anywhere this is
going to revolutionize the world but it's gonna obviously be hard there's
gonna be dips it's gonna be bad news there's gonna be people trying to take
Bitcoin down and it's gonna be a lot of people hating it along the way out
people telling me that I'm an idiot for investing in this as it's down 80% but
for me I feel better about buying more at 80% of a dip than buying at all-time
high I got a pretty good average on everything that I own I can still
average down I've got more fiat currency I just keep printing fiat currency I'm
not worried about I can keep rinsing it and I can keep buying some more Bitcoin
there's an idea that there could be massive returns to come here on Bitcoin
in cryptocurrency in general so I'm in it for the long run and I'm buying the
dip and I've just told myself hey bitcoins gonna $3,000 if he doesn't go
$3,000 I won't be mad trust me I won't be mad about it I'll be happy but at
same time I'm not gonna be sad if Bitcoin goes to $3,000 I think that's a
good way to look at it it's a really good way to look at it actually so if
you guys haven't already do me one big favor hit that like button leave a
comment below what do you think how low is Bitcoin going to go also hit the
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