Thread by @_Squirrel_Token

1/ WHY YOU SHOULDN'T BE AFRAID OF A BEAR MARKET FOR #BITCOIN : Looking at the big picture for $BTCUSD in a log chart, it seems that this correction for $BTC is completely normal. We may even go as low as $3k, but if you zoom out, this will allow us to bounce off that trendline

2/ and thus draw our next impulse wave (3) which can push price as high as $100k. Media will talk about it way more than in 2017 and we will have a general adoption by the public (thanks to #LightningNetwork ?). Another big correction will occur (wave 4) and we will buy -

3/ again - in the 78.6%/88.6% fibonacci retracement while mass media will tell us that #Bitcoin is dead (again ?). And we will probably have our "final" 5th wave which could drive us above 1 million $ per $BTC.

4/ You will hear the "best" analysts tell you that we are entering a new paradigm, that #Bitcoin is different from other assets. The only thing that is different is its potential over the long run, but in the end $BTC has to go through those bear markets in order to rise again

5/ This chart is inspired by the famous market cycle. We can find a lot of similarities that I highlighted in my chart. We are now in the Awareness phase, with big banks investing in #bitcoin. This created a bear trap that we are in, nobody can call the bottom

6/ but history showed we always retrace into the buy zone (green box). If you got into $btc because you expected it to x20 in a year, it's exactly the reason why #bitcoin will enter a bear market. A bubble explodes when newcomers enter ONLY bc they hope to sell at a higher price

7/ But I'm not worried at all, $btc, as a disruptive technology, will go higher. And thus create the biggest financial bubble in the history. @parabolictrav I guess your haters didn't expect that parabolic trend ?

Note: All data is my personal opinion and is a POSSIBLE outcome