The real fun hasn't even started yet
The price action in Bitcoin has been a lot of fun, but it's about to get a whole lot more fun
Sure, bitcoin is trading at/near all time highs around $40k, and that seems very high to some, but it's not.
Yes, it's really not that high in the grand scheme of things.
It's simply a few ticks above its old all time high, which is but a bump in the road compared to where we are likely eventually going.
At this point in time, bitcoin is exactly where it was after the 2012 halving and the 2016 halving, almost exactly.
We just broke our old all time highs and are grinding higher.
If this continues to play out, look where we are eventually going:
(Source: https://twitter.com/inmortalcrypto/status/1349747506100502531/photo/1)
That big parabolic surge on the right was what things looked like back in 2013 and 2017, but now they are looking almost like flat lines.
Which is likely what we are going to see yet again.
Where are we heading?
If this same pattern were to play out, bitcoin is going somewhere between $200k and $400k and it's going to happen by the end of this year.
The chart above hints closer to $400k.
Can bitcoin really go from $40k to $400k in less than a year?
I can't say for certain, but that is exactly what it did back in 2017, at least in percentage terms.
It broke $1k at the beginning of 2017 and ended up hitting $20k by the end of the year for a gain of 20x after hitting all time highs.
Bitcoin broke $20k late last year, and going up 20x from there would put it at $400k by the end of this year.
I have to think at some point the law of large numbers will come into play, as it will literally take trillions of dollars coming into bitcoin to push up that high.
Time will tell whether that is possible or not, but the good news is we have less than a year to wait in order to find out.
Personally, without some sort of black-swan event happening, it is getting harder and harder to see how bitcoin doesn't go well over $100k this year and possibly all the way to $200k.
Get your popcorn ready, it's going to be fun either way!
Stay informed my friends.
-Doc
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this chart is interesting... thanks for sharing
We are experiencing a nice moment of BTC. I believed on BTC very excited when I arrived to the crypto on 2017, even if later I lost some monies on 2018, it never stop to be part of my future (and hopefully my family future). Fluctuations are something to scare most of people who begins to know about BTC, but through the time I think we get use to it. I cannot imagine the cents of fluctuations 10 years ago, but on 2017 it was amazing to see 1000 USD of fluctuation in one day. Now it looks nothing as it seems fluctuation now is going maybe around 10000 USD in a correction (a day~days?).
Lets enjoy the ride!
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My targets are much higher for next bull run 2021 - 2022 ( =
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I have bar pattern from the time peroid you write synced in my ta and it's matching up now for 50 days straight!
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What are your targets?
2021 - 71k in december top of the year possible around 90k
2022 - more then 1million ( =
Very true analysis here. I can't wait.
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I really, REALLY hope that you are right and that Bitcoin will get over $400k.
Indeed it is going to be quite the ride I think. Feels like now is a good time to do a little bit of buying if this is going to be the case.
So according to that chart it looks like we will see a stable price eventually of around 100K like you said. I would be okay with that. Especially if I am able to stack some more right now.
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Yep, also based on that chart we should see a little higher before another sizable dip... possibly larger than the last one.
Does collapse of global banking system count as black swan event... Because that is what is going to happen sooner than later unless interest rates start going up a lot...
They are already starting to go up... with or without the FED.
Starting is not enough, they have been low since late 2000s and negative for last 5 years or so... That pretty much means for over 10 years the interest rates have been unfavorable... That is hardly sustainable...
Nice info ... but I was really wondering where and how do you compare the 2016/2017 bull run to this one. Where do you find the charts?
Of course, I know I can find some charts on coinmarketcap, but I think there are sites with more information about this. Do you mind telling me this?
And don't forget to enjoy the ride!
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What goes up might just stay up, the bitcoin run mightn't be one with the fundamental gravitational law. Can the bitcoin break first the $100k line? Yes! And as this piece posits, time is a major factor..
The bitcoin is on another level of gravity..maybe levitation plus the time factor..
https://www.fa-mag.com/news/what-goes-up-might-not-come-down-41012.html#:~:text=The%20law%20of%20gravity%20states,stock%20chart%20at%20its%20peak.
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I think so yes. It can keep going because it's a new asset class that large investors are under-invested in. As they start taking positions, the price has nowhere to go but up.
I agree that what is upon us can't be compared to anything we have ever seen! Boi's truly excited!
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I don't know for certain what will be the bitcoin Price ate year end but I sure know it's going to be crazy
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I see a lot of optimism here! Wondering if we are not just regretting not having bought in 2012 and so WE want to believe in another 20-50x price surge.
By the way, I also think that 100k dollar price is nothing particular exciting, and that we can expect things to go further.
The point is that if there will be or NOT a big gouvernaments proibitions/limitation.
If we win, we'll win like never before. But...
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Well the optimism is rooted in what it has done since it was created. Nothing new or different would have to happen for it to repeat these patterns. Just larger dollar amounts involved. And so far it is following along those past patterns pretty much exactly as one would expect.