BITCOIN POLL: At the end of this weekend, the price of #BTCUSD will cost:
Anonymous Poll
59%
Over $50,000
41%
Between $46K and $50K
6%
Between $42K and $46K
12%
Less than $42,000
📊 Here are some important Crypto Values that I always look at first to get an overall trend in the current crypto market. Let me know if you think I missed one to add to this list.
▫️Bitcoin & Ethereum
🔹#BTCUSD
🔹#ETHUSD
🔹#ETHBTC
▫️Dominance & Volatility
🔹#BTC.D
🔹#ETH.D
🔹#BVOL
🔹#BVOLUSD
▫️Market Cap
🔹#TOTAL
🔹#TOTAL2
🔹#CMC200
🔹#CMC200EX
▫️Futures ETF
🔹#BITO
🔹#GBTC
🔹#BTC1!
▫️Bitcoin & Ethereum
🔹#BTCUSD
🔹#ETHUSD
🔹#ETHBTC
▫️Dominance & Volatility
🔹#BTC.D
🔹#ETH.D
🔹#BVOL
🔹#BVOLUSD
▫️Market Cap
🔹#TOTAL
🔹#TOTAL2
🔹#CMC200
🔹#CMC200EX
▫️Futures ETF
🔹#BITO
🔹#GBTC
🔹#BTC1!
Power Crypto Club
See the poll below....
🏆 Congratulations to the 25% of "I'm red (Bearish)" voters who correctly assessed the trend reversal in the price structure.
👍 Well done also to those who saw that the chart represented the #BTCUSD pair, but that I had changed to "Inverse Scale". 😂 (Attached is the normal scale chart)
⛔️ It is therefore 57% of "I'm green (Bullish)" voters who thought that the drop of $BTC should continue, except that you were wrong, guys!
👍 Well done also to those who saw that the chart represented the #BTCUSD pair, but that I had changed to "Inverse Scale". 😂 (Attached is the normal scale chart)
⛔️ It is therefore 57% of "I'm green (Bullish)" voters who thought that the drop of $BTC should continue, except that you were wrong, guys!
✨Math of Gains & Losses
After a loss, it takes a greater gain to return to your original value. If you invested $10,000, and your account declined 20%. To fully recover from the 20% loss, you'd need to gain 25%. If you gained 20% back, you would be $400 short of your initial investment.
If your crypto has declined by 70% or more, your needed gains will be much larger to recover your loss as you can see below:
▫️#BTCUSD
🔹From its $69K ATH to last bottom at $20,800, it's -70% loss
🔹To fully recover, $BTC needs to generate +230% gains.
▫️#ETHUSD
🔹From its $4,890 ATH to last bottom at $1,180, it's -77% loss
🔹To fully recover, $ETH needs to generate +350% gains.
▫️#AXSUSD
🔹From its $165 ATH to last bottom at $12, it's -92% loss
🔹To fully recover, $AXS needs to generate +1,260% gains.
After a loss, it takes a greater gain to return to your original value. If you invested $10,000, and your account declined 20%. To fully recover from the 20% loss, you'd need to gain 25%. If you gained 20% back, you would be $400 short of your initial investment.
If your crypto has declined by 70% or more, your needed gains will be much larger to recover your loss as you can see below:
▫️#BTCUSD
🔹From its $69K ATH to last bottom at $20,800, it's -70% loss
🔹To fully recover, $BTC needs to generate +230% gains.
▫️#ETHUSD
🔹From its $4,890 ATH to last bottom at $1,180, it's -77% loss
🔹To fully recover, $ETH needs to generate +350% gains.
▫️#AXSUSD
🔹From its $165 ATH to last bottom at $12, it's -92% loss
🔹To fully recover, $AXS needs to generate +1,260% gains.
✨How Low Can We Go?
The current drawdown in #BTCUSD since its ATH in November is now circa -67%. Again, this is to be expected from such an asset class, and as shown below, historically, bear markets for $BTC have seen prices fall by -75% to -90%. History would tell us there may be more pain ahead. Even though crypto and equities have a high level of correlation to the underlying Crypto markets, as they are typically much more volatile, a 40% drawdown in $BTC is widely seen as a correction, and a drawdown of -70% is considered a bear market. In fact, $BTC has spent more than 80% of its history in a drawdown of -20% or more. While looking at historical drawdowns vs the current drawdown, we can see that all major historical bear market drawdowns bottomed around a -75% to -85% range. Whereas the current drawdown is around -67%, one can use this metric to track the bottom levels that could be in the -75% to -85% range. (Source: CryptoQuant)
The current drawdown in #BTCUSD since its ATH in November is now circa -67%. Again, this is to be expected from such an asset class, and as shown below, historically, bear markets for $BTC have seen prices fall by -75% to -90%. History would tell us there may be more pain ahead. Even though crypto and equities have a high level of correlation to the underlying Crypto markets, as they are typically much more volatile, a 40% drawdown in $BTC is widely seen as a correction, and a drawdown of -70% is considered a bear market. In fact, $BTC has spent more than 80% of its history in a drawdown of -20% or more. While looking at historical drawdowns vs the current drawdown, we can see that all major historical bear market drawdowns bottomed around a -75% to -85% range. Whereas the current drawdown is around -67%, one can use this metric to track the bottom levels that could be in the -75% to -85% range. (Source: CryptoQuant)
⚡️#Bitcoin Testing $20K Key Level
👉🏻 The price was rejected exactly on Fibonacci 61.8%, so now technically it should bounce off Fib 38.2% or lower on the $20,000 level.
👉🏻 The 2nd option could be a bounce between the 50% and 61.8% Fib retracement ratios, around $19,200-19,600 levels.
TA: #BTCUSD TF 4-h
👉🏻 The price was rejected exactly on Fibonacci 61.8%, so now technically it should bounce off Fib 38.2% or lower on the $20,000 level.
👉🏻 The 2nd option could be a bounce between the 50% and 61.8% Fib retracement ratios, around $19,200-19,600 levels.
TA: #BTCUSD TF 4-h