Bitcoin looks more like 2012 than 2015...
Bitcoin is looking and acting a whole lot more like 2012 than 2015...
And, if that continues to be the case, it is a very good thing for investing returns.
Check out what happened back in 2012 and then in 2015, and compare them with the price action we see now...
(Source: https://www.ccn.com/opinion/popular-analyst-sees-bitcoin-mirroring-the-2012-bull-run/2019/06/28/ )
Back in 2012 the recovery off the lows was fairly violent.
The bear market was ended with a rocketing bitcoin price, then a brief pause, then straight into the atmosphere.
By comparison, coming out of the 2015 bear market, bitcoin was much more subdued.
Forming a rounding bottom and taking months to finally turn upwards.
(Source: https://www.ccn.com/opinion/popular-analyst-sees-bitcoin-mirroring-the-2012-bull-run/2019/06/28/ )
The price action we are seeing now looks much more like the former than the latter.
If we continue to follow the 2012 model, it would make for one heck of a bull market.
Back in 2012 prices went from a low of $2 to over $1,100 for a gain of over 52,000% in a 2 year period.
If we were to repeat that percentage gain this time around we would go from a low of $3,100 to over $1.5 million within the next 2 years.
Even better, McAfee wouldn't have to eat his d*$k!
I don't expect us to see that kind of growth, but anything remotely close to that would be amazing.
Stay informed my friends.
-Doc
That would be amazing. Hoping Steem and other Alt's rise even faster. The profits will be legen...wait for it... dary! :P
Steem on.
The price action thus far has not been encouraging for steem...
Very interesting 🧐
I thought so as well. Thanks.
McAfee we pray for you :D
Haha yes we do!
Supply is becoming harder to come by so the spreads are wide and causing this volatility. I also think the short sellers are being really shy up here so selling pressure is also subdued!
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I don't blame em. I wouldn't short into a market like this.