Bitcoin (BTC) began a new cycle on its birthday. If you look at the BTC/USD 4H chart above, you can see for yourself how Bitcoin (BTC) completed its correction on 31st October, 2018 and began a new cycle. This is not the first time Bitcoin (BTC) has completed a correction in this manner. In 2014, Bitcoin (BTC) completed its correction cycle the same way, by first breaking above the triangle and then correction above it. We will analyze that in detail by comparing the two charts later in this analysis. Let us first understand the significance of two numbers, “10” and “2018”. Was it a coincidence that Bitcoin (BTC) just completed its correction on 31/10/2018? To answer that question, we will first have to see where the numbers “10” and “2018” actually came from.
Source: Economist; 01/9/88, Vol. 306, pp 9–10
In September 1988, the Economist featured a cover photo on its magazine with the title, “Get ready for a world currency”. The article in the magazine on this subject had the title, “One world, one money”. You can read the full article here. The cover photo features a phoenix rising from burning dollar bills. The phoenix is wearing a coin shaped pendant with the numbers “10” and “2018” on it. This was in 1988, way before the financial crisis of 2008. On October 31, 2008 Bitcoin (BTC) was officially born. Coming back to the numbers, “10” and “2018”, let us examine what they could mean. “2018” clearly means the year “2018” so no doubts there. “10” could generally mean the month of October but when put together with 2018, it could also mean the “10th Birthday” of Bitcoin (BTC) which falls on 31/10/2018.