On December 22, 2017, we said the following of Bitcoin:
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“We believe that there is going to be limited upside in the near term.”
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“We think that the conservative downside target ($6,884.31) will be achieved before a new high is seen.”
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“In all prior booms, the subsequent bust AVERAGED –70% (data found here).”
Below is the updated chart for Bitcoin along with our expected downside target.
If you are remotely interested in buying Bitcoin, then you’re only interested in buying it at levels below $6,884.31.