On February 5, 2018, in an article titled “Ethereum: Downside Targets”, we said the following:
“In addition to the conservative downside target, we have indicated the level Ethereum would be at if it lost –93% (red line) as Bitcoin did in the period from June 2011 to November 2011 (yeah, it took only five months). Such a decline in Ethereum would bring the price to $96.95.”
On December 14, 2018, Ethereum was quoted at a low price of $84.06. The difference between the high of $1,385.02 and $84.06 is equal to –93.93%. This decline was similar to the decline experienced by Bitcoin in 2011.
On January 24, 2018, in a lead-up to the February 5, 2018 article, we referenced the comparison between Bitcoin in the run-up to the 2011 peak and the run-up to the Ethereum peak in 2018, suggesting that if they can rise in the same percentage then they can decline in a similar fashion. This latest example only solidifies our studies of failure in markets and elsewhere.