Many investors suffer illusion of control bias, hence this article is written to lay out educated expectations of future price actions based on past events amid a potential Bitcoin crash.Bitcoin's current price pattern mirrors the crash from 2014 and 2017 where 5 sequences of events repeat themselves on both occasions.These 5 sequences are (1) reversal pattern, (2) drop to 50%, (3) recover to 20% from peak, (4) drop 70% from peak, (5) bottom out at 85% from peak.A Bitcoin bear market (Seq1-5) typically spans 1 year and takes another 2 years to recover back to the peaks, currently, it seems we've followed through sequences 1 and 2.While the medium-term outlook for Bitcoin is bearish, remember it is just a cycle where the next bull run would be a $100k bitcoin.
