In Oktober 2013 FBI shut down silkroad which made the crypto market dump on massive volume in a black swan like event. Just to climb up quickly on disbelief and fully retrace the dump to finally rally 1000%.
The covid dump looks similar but on a higher timeframe and on much larger scale given that bitcoin is way larger and mature today than back then.
The narrative back then was: Can bitcoin survive without the most used darknet market.
Today we see people asking if crypto can really be a store of value in difficult economic times.
If bitcoin can follow the silkroad fractal we will have some exciting times for bitcoin ahead, or is it just wishful thinking? Time will tell.
The covid dump looks similar but on a higher timeframe and on much larger scale given that bitcoin is way larger and mature today than back then.
The narrative back then was: Can bitcoin survive without the most used darknet market.
Today we see people asking if crypto can really be a store of value in difficult economic times.
If bitcoin can follow the silkroad fractal we will have some exciting times for bitcoin ahead, or is it just wishful thinking? Time will tell.
הערה:
trying to breakout of the triangle
הערה:
the current bull market is more similar to 2013 than 2016/2017
הערה:
we got this
הערה:
timing of corrections matches well with the fractal for now
