Breaking Down #bitcoin’s Price Trends with The Dow Theory
▻https://hackernoon.com/breaking-down-bitcoins-price-trends-with-the-dow-theory-6af697ce9c2f?sou
Charles Dow was the first to express trends of market cycles and his theory has applied to various financial assets of different markets for more than a century, including the globally traded Bitcoin.If you hear somebody talk about bitcoin, I am fairly certain that volatility is the first thing that comes to your mind. After all it is an asset that has a history of rallying by 585x i.e. 58400% in a span of just 2 years, and then retracing by 86% within 14 months — well, that’s what happens when monetisation of a new asset class takes place. I’ll leave this topic for another write-up.Log chart of Bitcoin’s price since its inceptionWhile I sit calmly on my laptop with a cup of coffee and write this piece, there are millions who are fretting over the price of bitcoin, and rightly so. As of (...)