The crash is over. And it will recover fast. In the Cryptocurrency world everything is going fast. The crashes last 3-5 days and recovers in a few weeks.
There are similarities to the S&P500 crash. The
The shown S&P500 Crash developed like our recent cryptocurrency crash.
A long time it was very low value. Then starting to rise faster just like in the S&P500 Bubble. The charts are similar. The only difference is that the time period in the stockmarkets are much longer than in the crypto currency world. This is because the crypto-currency world has much times faster transactions and much times lower total market capitalisation than the stockmarket for example.
In the most major crashes the value is crashing around -50% to -60%. This is almost everytime the case. You can go and compare every other crash. If the currency or stock or whatever has true value and a true solution to a problem (which the crypto currencies like Etherium truely have) the crash will perform the same way. -50% is the bottom.
Etherium went from the 400 high down to 200. -50%.
If you look at the etherium chart you will see 2 green lines and 4 green circles. The first green line is from the first major etherium crash around 100$. This line became the bottom of the first big crash end of may.
The seconds green line was the top of the first bubble at around 200$. This level became the bottom of the major crash that is now. You see on the long candlewick that this support line is very strong and is building the bottom of the crash.
On the volume analysis we can also see that the trading volume is as high as on the other bottoms of the previous crashes.
This is also always a sign for a solide and strong support.
On the total marketcapitalisation chart from coinmarketcap.com
We can also see the true trendline and true value of the whole cryptocurrency space.
As we can see the Trendline got also confirmed !!!
If we take all these factors together I think it is reasonable to think. that 200 $ was really the bottom of the crash.
What do you think of my analysis. I tried to take all factors and indicators together and compare it. If I missed anything or if you have any suggestions let me know
have a nice week,
further analysis will come
saido