 Hi everyone, it's time to announce the results of our competition. If you remember, last week we asked you to guess what would be the price of Bitcoin by today, 6am Eastern Time. We received a total of 128 predictions and the winner is... Shiran Goffar! His price prediction was $11,050, which was the closest to the price at 6am Eastern Time on Coin 360. So congratulations Shiran, you won $50 USD credit to spend in our merch store. We are gonna get in touch with you soon. Thanks a lot to all of you who participated, we are gonna have more competitions coming soon, so stay tuned. Now let's go back to the crypto markets with Patrick Heisser. So Bitcoin experienced significant losses in the last couple of days. Almost 25% down the highs reached last week. So what do technical indicators show us at the moment? At some point every parabola has to break. If you look at the daily chart, the level where it broke at around $13,500 is not just a random level. It's basically the Fibonacci level of the down move we have seen from the top $20,000 down to $3,200. So it was expected that something is going to happen around this level. Now on the 4-hour chart it looks like that we are in an ABC correction and that correction could go as low as $9,200. But due to the strong trend I expect the correction not to be as deep as other analysts are looking for. This downward trend started last Thursday when Coinbase reported an outage and later on Mike Novogratz said he wished he sold more Bitcoin before the price dropped. So do you really think that these kind of events can have a strong impact on the price of Bitcoin? No, I don't think so. The Coinbase incident was sort of unfortunate but also expected. We have seen several exchanges and their UIs being overloaded on the day where the steep drop happened at the $13,800 level. And Mike Novogratz's comment, he sort of said it got taken out of context and on his social media accounts he corrected that statement somewhat and also said he's looking to sell but then buy them back on a lower level. Probably also in the ABC correction. So volatility is at its lowest point since the beginning of 2018. Is it a kind of healthy sign for the market according to you? I think volatility is not a bad thing per se. I personally believe that we are back to more normal levels for the asset class and the current state we are in terms of price movements and I'm referring to the broken parabola. Some analysts say that we are just at the beginning of a much, much significant correction which will bring Bitcoin price as low as 40% the price that is now. So do you agree with this kind of prediction? I see this as unlikely because that would imply that we would correct the rally we have seen from 3,500 up to 13,800 by 61.8%. And as I mentioned before corrections are rather going to be shallow because we see a lot of buying interest out there.