G’day Folks,
Bear markets are famous for the never ending revision of price targets lower, and lower and lower.
Folks who thought it was a bull market three weeks ago, are actively adjusting their targets down to $40k, and $30k, and $20k, depending on the mood of their favourite commentator or indicator.
How likely are those kinds of downside moves?
We all know there is no such thing as a zero probability event, but at the same time, we can make a rational judgement about whether such price levels are reasonable to expect.
Today’s study looks at this problem from both a qualitative and a quantitative standpoint, and assesses how likely such downside moves are in the context of our current bear market.
Become a Premium subscriber to access today’s Video Update (34 mins), Written Article and TL;DR Summary.