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If You're Interested in Bitcoin, You Need to Read This... - Private Briefing

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If You're Interested in Bitcoin, You Need to Read This...
Dec 22, 2017

  • 'Bitcoin Price Down 25% From All Time High!'

Have you seen a news headline like this?

I bet you have.

Yes, Bitcoin is down. Its price fell to about US$ 14,500.

It's hard to believe that Bitcoin reached an all-time high of US$ 19,783 just five days back.

The joke doing the rounds is that Bitcoin is now a bear market!

A Bitcoin Bear Market?

The media loves sensational headlines. They live off them.

Yes, Bitcoin fell sharply this week.

Yes, the correction is more than 20%, Wall Street's definition of a bear market.

But let's not get carried away.

Bear markets are measured not only in terms of price but also in terms of time. In other words, how long before the price starts to go up again?

What if Bitcoin goes back to US$ 19,000 next week? Or higher?

Will we still call this a 'bear market'?

No.

And that's exactly the problem. These things are known only in hindsight.

No one can predict the timing of bull or bear markets.

Don't believe me?

Imagine this scenario.

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