Once we make news highs on Bitcoin, we go parabolic
Bitcoin seems to have a pattern around its halving
It can be summed up with: "prices go up!"
More specifically, looking at the chart it looks like bitcoin tends to make a new all time high roughly 2-9 months post halving:
(Source: https://twitter.com/bitharington/status/1227963246151335945)
Then, after it makes a new all time high it tends to run for the next 9-11 months.
During this time it goes anywhere from 40x to 15x higher than the previous all time high.
Even if that is a trend instead of a range and the next halving ONLY produces gains of 6x, we are looking at a peak of $120k in bitcoin.
Not a lot of data to go off of, but considering it has to do with supply/demand economics as well as human behavior it seems likely it could play out in similar fashion again.
0
0
0.000
The energy that put earth three planets away from this particular star and each ant in their respective colony will roll on to evolve bitcoin to $100K and then $1M territory and well beyond. Di-hydrogen oxide is not the chemical makeup of water by pure accident and neither will bitcoin become the most trusted and widely used digital money by such. The laws of the Universe make it a mathematical certainty that Bitcoin will follow the aforementioned path.
In my opinion, of course ;)
I don't think so. BTC can further go more. Because, after the peak, BTC price lost at least 84%. So, If the price of it reach $120,000, then the point that BTC will lose -85% is $18,000. It's weird.
BTC has increased at least 110 times than previous bottom prices. Thus, I predict the next peak would be around $350,000!
Posted using Partiko Android