Market Pullback Bitcoin & Ethereum Charts

Market Pullback Bitcoin & Ethereum Charts,
The digital asset space is getting attention and there has been a lot of hype, there is definitely a cycle of hype, pump and dump, with lots of profit taking going on. However the market continues to grow and the market capitalisation is now over 100 billion USD. The promise of blockchain technology and the projects, platforms, currencies, assets and innovation that is being born of this space is mind boggling. It literally is booming with billions of dollars flowing globally into & out of the market and circulating in the market itself.

At this rate of growth it will be into the 1 trillion USD (1000 billion)  market cap. in a very short time. My forecast is that it will be over 1 trillion within the next 9 months according to the historic data of the market. If you follow the whole market you can see the cycles clearly and this is fueling excitement which is causing a bubble as the growth of ICO's and value is exceeding the utility of the technology. Hence the picture above.

I have decided to add 2 of my personal analysis charts and projections mainly because of the videos and narrative that is going on in the public domain. The chatter is mainly retrospective analysis which is easy. Both these charts are short term and have proved sound so far. The reasoning and postulates behind these are private and will remain so, however I believe that there is utility in making them public in so far as that I can prove to myself that they continue to be sound or proved by the market otherwise (which of itself is a valuable tool for further projections).

The chart below is the Bitcoin Short Term Projection Chart

The chart below is my Ethereum Short Term Projection Chart

I have cropped both charts to keep some of the info private like the timeline, base data and line annotations, but for those that are interested it is a forward monthly projection that goes into the end of the first week of July. We'll see how it goes.

As of the start of writing this article the market has been shorted across the board with approximately 9 billion dollars being sold in literally every currency and asset dropping approximately 10%-20%, which indicates to me collaboration, syndicate investments & whales profit taking.

To those that have got into the market and seen it literally dump, don't despair, the cycle will repeat, the syndicates will buy up again, just like any other market does, real estate, commodities, securities, stocks etc.

Happy Bitcoin-ing

ps since publishing this article half an hour ago, 2 billion has re-entered the market a strong indicator of buy in of those that shorted (sold) a few hours ago..



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