 Bitcoin is going through a process known as the Reversion To The Mean. Much like a rubber band that is stretched to near maximum, natural forces want it to revert back to a base point.  The following chart shows that Bitcoin is retracing it's highs and reverting back to the 21 day average (line in blue), the 55 day average (line in purple) or the 100 day average (line in gold). The 55 day average is a price point around $11,000.00 and the 100 day average is a price point around $8,700.00.  Even if Bitcoin hits the gold line, representing the 100 day average price point of $8,700.00, it is NOT CRASHING. Bitcoin is simply going through a Reversion to the Mean. This is absolutely normal and Bitcoin has done this over 3 times in the last 12 months. Commodities need to have retracements, back to their 21, 55 or 100 day averages, in order to build up buying pressure to attain NEW HIGHS. Did you hear that. This is neccessary in order for Bitcoin to hit all time high price targets such as $20,000.00 or $25,000.00. So Be patient and HODL (hold on for dear life). Stay resolved and do not panic sell. Large investment institutions are upset that we got invested in Bitcoin (BTC) before they did. Do not sell your BTC to them. There will be less that 19 Million BTC eventually available around the world (21 million total but estimated 2 million already lost). Hold on to your BTC at all costs. The Legacy Chain of the original Bitcoin (BTC) is priceless. This blockchain will become the main data/digital highway for the entire planet. Owning a Bitcoin will mean you own a piece of the Global data/digital information highway. Think of the value in that. Bitcoin will continue to rise in value for more reasons than just simply being a digital currency. Bitcoin has 9 years of the greatest "Network Effect" over any other crypto currency or crypto blockchain. Each month, the blockchain gets larger, older and more valuable. Eventually, this Bitcoin blockchain will evolve into it's own Artificial Intelligence, Internet of Things (I.O.T.). You never want to give up your ownership of such an important asset such as this! A great reference explaining this Reversion to the Mean and the Elliot Wave Theory is https://www.youtube.com/channel/UCnJjRjmthxPCoQaAL44tR6g
author | jetblake |
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permlink | bitcoin-is-in-correction-mode-no-big-deal-hodl-for-all-new-time-highs |
category | bitcoin |
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root_title | "Bitcoin is in Correction Mode, No Big Deal, HODL for All NEW TIME HIGHS" |
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idealist | 0 | 393,440,710,713 | 100% | ||
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Good article, I'm holding, some people need and should sell. Esp if it goes lower. <a href='https://postimg.org/image/o1nttr4e5/' target='_blank'><img src='https://s14.postimg.org/o1nttr4e5/62477_118473501543641_118468261544165_136141_4878318_n.png' border='0' alt='62477_118473501543641_118468261544165_136141_4878318_n'/></a>
author | robertchr |
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permlink | re-jetblake-bitcoin-is-in-correction-mode-no-big-deal-hodl-for-all-new-time-highs-20171230t220118787z |
category | bitcoin |
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robertchr | 0 | 4,075,813,879 | 100% |
I have not sold one crypto in over two years. I hold and never panic sell. Good to hear from you.
author | jetblake |
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permlink | re-robertchr-re-jetblake-bitcoin-is-in-correction-mode-no-big-deal-hodl-for-all-new-time-highs-20171231t055226498z |
category | bitcoin |
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