Bitcoin price has been locked in a mostly sideways pattern, sloping ever so slightly upward. The price action appears to resemble the beginning of Jesse Livermore’s famous “Speculative Chart” also referred to as an Accumulation Cylindar.
If the old timey pattern is accurate, it could take BTCUSD toward $200,000 per coin before the end of this year.
Jesse Livermore: Market Manipulation, Mental Health Issues, And More
The story of Jesse Livermore was one as volatile as financial markets themselves. The father of day trading went bankrupt several times, became one of the richest men in the world, and ultimately committed suicide due to mental illness. At the time of his death, he owed more money than he had in assets.
He was known as the “Boy Plunger” and the “Great Bear of Wall Street,” at one point receiving a personal call from President Woodrow Wilson forcing Livermore to stop manipulating the price of cotton….
