History rarely if ever repeats exactly the same, but it often rhymes.
If you have followed my blog for any length of time you will know that I am a big fan of that thought process, especially as it relates to finance and markets.
Many have pointed out the stark similarities between the current bitcoin correction with what took place from 2013 to 2015.
During that time bitcoin peaked around $1,200 in December of 2013. From there, bitcoin declined by roughly 87% over the next 13 months to bottom out around $150 in January of 2015.
If bitcoin were to mimic that pattern exactly...
Bitcoin peaked in December of 2017 around $20,000. An 87% drop from there would take us to a price of roughly $2,500 and it would happen in January of 2019.
What do you think, will history repeat almost exactly or will it be more of a rhyme?
Stay informed my friends.
