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Bitcoin drops to $ 17,000 -54% in February 2021? 7 EVIDENCE ?! NOT to invest in bitcoin in 2021?

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Sacred alarming situation! It is possible that the Bitcoin falling as well as other crypto currencies of 20, 30, 40 or even 50%. In fact, it seems apparent in the weeks or even months to come!

What could be the reason for such a drop? Recall the last big bull market in 2017. There was great euphoria. Indeed, the whole mass, the great part of investors, even individuals, were ecstatic around the soaring of Bitcoin or other crypto currencies.

All threw themselves in without questioning the possible impacts that could arise. And to everyone’s surprise, the party ended abruptly. All of these booming cryptocurrencies are experiencing drops. However, some will be short term, like Bitcoin for that matter.

However, the same scenario seems to happen again. First, in 2020 we were witnessing an incredible rise in crypto currencies. But for the most part, Bitcoin. What if history repeats itself? Since it has already started! Indeed, this article presents to you seven (7) proofs. Based on this evidence, it is possible that Bitcoin and other cryptocurrencies will lose value dramatically soon.

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1st proof

Sometimes, in order to be able to better estimate the future, it is very important to refer to the past. It is true that everything can change. But it is still quite normal and rational to sometimes use the past tense.

When we analyze, the various events experienced in the past between 2013 and 2017 seem to come back. Indeed, Bitcoin surpassed its old all-time high of 2013 on April 24, 2017.

At this point, Bitcoin is going up one hundred and thirty-six percent (136%). However, after this increase, the Bitcoin falling. This drop was estimated at nearly thirty-nine percent (39%).

However, it is important to make it clear that past performance does not necessarily mean the future. It is possible that Bitcoin will have a totally different performance this year.

So when could Bitcoin fall?

Indeed, we can know when the Bitcoin could more or less fall from the moment we base ourselves on this zone. First, you have to see from when Bitcoin broke its all-time high.

Then, it would be necessary to know from when he reached his highest point and finally from when he began to realize his fall.

We could therefore very well from the Bitcoin charts notice when the cryptocurrency began to fall. We also note that Bitcoin has achieved its fall of forty percent (40%), sixty-three days after having exceeded its old all-time high.

2nd proof

Here, it will be essential to use the RSI. Indeed, the RSI is a technical indicator. We can also see it on the charts of crypto currencies. On the Bitcoin chart, the one highlighted for this analysis, the RSI is a purplish pink color.

According to the RSI, Bitcoin has hit around eighty (80) points. Paradoxically, from this moment on, Bitcoin continued to fall. As of this date, Bitcoin appears to be as close to this RSI point again.

In fact, this suggests that most likely, in the weeks or months to come, Bitcoin will hit that eighty (80) point. Thus, at this time, the cryptocurrency could undergo a correction from forty (40) to fifty percent (50%).

However, that does not mean that it will be a fall long-term. Indeed, the cryptocurrency could still resume its bullish channel as well. This was the case in 2017 and even 2020.

Cryptocurrency could hit the one hundred and thirty-six percent again in the years to come. There we could end up up to about four times its 2017 price, or twice its current price.

However, this is only a prediction. Cryptocurrency can even gain more value. The most obvious is that Bitcoin after a fall is soaring again.

3rd proof

This proof relates to GAP CME. We might well notice them on the Bitcoin futures chart. By the way, these are the levels that have not been filled by the cryptocurrency.

Indeed, Bitcoin went from one candle to another, while leaving a hole. It is this hole which is designated by GAP. Also, you should know that statistically, in eighty percent (80%) of cases, an asset will always tend to fill its GAP. Based on historical data.

By following the three red areas on the Bitcoin chart, we can illustrate exactly three (3) GAPs. First, a first zone between the twenty-six thousand five hundred dollars ($ 26,500) and the twenty-four thousand five hundred dollars ($ 24,500).

Nevertheless, to be sure, this GAP could be filled in a certain time, not defined by cons. Then there is another GAP in the eighteen thousand (18,000), nineteen thousand dollars ($ 19,000).

And also another in the region of seventeen thousand five hundred dollars ($ 17,500). And another GAP in the ten thousand dollars ($ 10,000). The latter however seems complicated, because, when it is too far from the GAP, it is no longer likely to be filled.

4th proof

We will use the MVRV Z- Score indicator shown in red on the graph. Indeed, we can see that when Bitcoin broke its historic high in 2017, the MVRV indicator was around six (6) points. Right after that, the cost of Bitcoin falling about forty percent (40%).

However, the cost rose again, hit the six (6) points again and Bitcoin falling another forty percent (40%) one last time. Finally, he exploded this famous area of ​​six (6) points.

Also, today, we find ourselves at exactly the same level of six (6) points. So, theoretically, it is quite possible that the Bitcoin falling by forty percent (40%). After that, it could very well continue its rise.

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5th proof

According to this same indicator, the MVRV Z- Score, we are in an extreme euphoria. Indeed, we could well notice, that because of the controversies on the cryptocurrency, that we are in full euphoria.

However, the last time the ninety-five (95) points of this indicator were reached was on June 26, 2019. Bitcoin has therefore been able to maintain this level for a very long time.

Further on, looking at the chart at that time, in full euphoria, we went from a bull market to a bear market for several months. Generally according to this indicator, in full euphoria, it is better to sell than to buy.

6th proof

By using a Fibonacci extension we could have the possible retracements of Bitcoin. Generally, assets for the most part correct in the area of ​​one hundred and sixty-one (161) or even two hundred percent (200%) of Fibonacci.

So, in this case, between the thirty-four thousand dollars ($ 34,000) and the forty-two thousand dollars ($ 42,000). However, currently, we find ourselves very well in this area.

In addition, it is often a retracement area. In the past, it was also at this time, from the Fibonacci extension that we see the fall of Bitcoin.

7th proof

Thanks to the 20-period moving average, we can have more details. We can see that Bitcoin moves away from this moving average and then comes back to touch it. This same scenario is repeated over and over again.

However, sometimes he wanders away for as long as possible. In the past, between the last point touched and the longest, one could count around one hundred and twenty-six days (126 days).

Thus, if we reproduce this same scenario by considering the same number of days, we find ourselves in mid-February. From that moment on, the Bitcoin will start again fall.

While the year before and the start of this year looks good for Bitcoin, it won’t last long. Despite the increased interest of more and more investors, cryptocurrency just like in its past will have to experience a fall.

Even if this seems only a prediction, seven (7) different proofs, from past events, charts and indicators confirm it very well. A fall imminent of Bitcoin in the near future is possible!

However, this will not be a downfall in the very long term. Indeed, Bitcoin as before will regain much more value again. However, at this time, it is much better to sell the assets in your portfolio than to accumulate them.

Well done, you’ve read this entire article!

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