Bitcoin - What to expect if history repeats (Part II)
What might happen to the price of bitcoin if history were to repeat exactly?
The last time we saw bitcoin encounter a very similar bear market was 2013-2015.
Thus far, this current bear market is playing out very similar to what took place then.
In order to see what might happen if the current bitcoin bear market were to continue to play out exactly the same way it did back in 2013-3015, check out part one of this two part series:
https://steemit.com/bitcoin/@jrcornel/bitcoin-what-to-expect-if-history-repeats
Continuing with that theme, what might we expect AFTER this bear market is over?
Following what took place after bitcoin bottomed in January of 2015, there was more than a year of mostly sideways action on the charts with no lower lows being made...
Applying the same time frames to today, after bitcoin bottoms in January of 2019 it would go mostly sideways for the rest of 2019 and into 2020.
The next major bitcoin rally would start late 2020 and continue through 2021. Then it would peak in December 2021 at $330,000.
After that peak, it would fall and bottom out at $41,000 by January of 2023.
(Source: https://twitter.com/bobbyclee/status/1071097875835248640)
How's that for some future price predictions?
Bitcoin markets seem to love that 87% number...
Moral of the story?
Sell bitcoin at $300k+ roughly 3 years from now.
Stay informed my friends.
Follow me: @jrcornel
It’s a good job I’ve got patience. Thanks
Sounds like we are going to need it...
I think this pattern doesn't take into account what happens as bitcoin and other cryptos replace national fiat. The USD will not be a "constant" when this happens, so expect the pattern to break when we reach somewhere around 19% adoption. This is how I think McAfee will save his dick, bitcoin to 1 million USD is in fact possible if it costs $1,000 to fill up the average gas tank.
Very true. McAfee just didn't give himself enough time most likely.
I'd still just like $1 STEEM (-:
Yea, you and me both. At this point, I miss $.80 steem.
$8 steem seems fair to me lol
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It might be a while before that happens...
I am here for a long run, so 2020-2021 doesn't seem that far off.
So as far as I am concerned, I will be working as hard as I always am on steemit and hopefully one day it will pay off, but for now, I'm just enjoying it and feel excited about it, because I feel like everything has it's perfect timing.
In investment past performance is not an indication of future performance :)
Sometimes it is. Though very rarely is it exactly the same. If often rhymes though as I mentioned several times in part one and part two. :)
well. we are waiting to see how bitcoin is going to achieve that huge amount, when it keep forking every single hour. bitcoin adam, bitcoin luise, bitcoin demon, bitcoin angels and bitcoin japan... etc.
Ha, there is some truth to that...
I hope you’re right!
You and me both.
"Moral of the story?"
Now you know when to sell, the only doubt is if you will have enough crypto to become a millionaire 3 years from now. I mean, buying know is the right decision, because going down more 20% won't hurt that much, and 100X profit is right ahead.
Yep, exactly. Can you afford to miss a 10x or even 100X potential return because you nit-picked about a possible 20% lower?!
"nit-picked" ahahah .... Exactly!!
It could suddenly one day turn around and the price could hike. Uncertainty plays a huge part in the markets
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Just need a catalyst...
Crypto Bunsen burner should of the trick
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