BTC - Bitcoin very likely breaks $20k this year
Bitcoin is likely going to see new all time highs this year
There is a confluence of events that likely helps propel bitcoin to new all time highs this year.
The most notable one being the halving event.
Historically, bitcoin has had a minor rally pre-halving, followed by a slight consolidation period that lasts a few months, followed by the euphoric blow off top rally that takes prices to new all time highs.
I don't see that pattern changing at all as we inch towards the halving...
When do I expect new highs?
Judging by past patterns, I think we will new highs sometime within several months post halving.
The next halving is set to take place on May 12th of this year.
Several months post halving would put new highs on bitcoin somewhere in the August-September time period.
Though, I wouldn't rule out the possibility that it doesn't happen until closer to the end of the year due to the fact that November/December are often very good months for bitcoin returns in general.
Which means I think we are going to see new highs on bitcoin anywhere from a few months after the halving until the end of the year, anywhere in there would fit past patterns.
The only question I have is, how low will we dip during the consolidation period?
We are due for a pullback right around the halving, it will either happen slightly before and last through the halving or it will happen immediately after and last a few months post halving.
Looking at the charts I don't think we will see prices ever go below $5k again, and honestly I would be shocked if we ever went below $6k again.
That being said, there is the possibility we could see a pullback down to about $7k just prior to our big move up.
That dip needs to be bought though as we could see a triple from there within the same calendar year as we tag $20k later this year.
Anyways, those are my thoughts.
Stay informed my friends.
-Doc
Glad you keep us informed of this timing of #btc.
At least if one has funds, you need to start gradually purchasing
and wait for the rise.
Keep on postin'
Posted via Steemleo
I hope that you are right. Its nice to see that you think that it won’t ever go below 6000 again. That would be reassuring to know that sub 6000 is not very likely ever again. That will hopefully entice some more cautious investors to get onboard.
I think your predictions are very close to the mark. Following the Halving, I expect a steady rise in price, if historical performance is to be believed. So, $20,000 around Q3 2020 is certainly possible.
I'm suffering right now. I bought 2 days ago.
Interesting to read your thoughts about the halving, its effect and the subsequent price movement of BTC.
https://steemit.com/bitcoin/@sexyalenochka/surf-ads-and-earn-bitcoin-2020-work-best-website
Hello
@jrcornel I just started thinking that bitcoin is a little better than last day, happy to see you, sharing information about bitcoin at this time, thank you
here
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