Bitcoin: Where to from here?

in bitcoin •  2 years ago 

The current spike in BTC is the fourth big one since the currency's inception. Fun as past few weeks have been I'm kinda worried. Where do we go from here???

A little bit of recent history.....

In 2011 there was a massive x30 spike from $1, even more if you track it from $0.05!!! Then came a 90% fall from $30 to $2.

That boom to bust took around 6 months.

Next the early 2013 spike. Up around x20 from $12. Followed by a 70% fall from $230 to $70. This one took about 7 months to play out.

Then the 2013-2014 move. All told about 8 months start to finish. Initial move up x10 from $120. Followed by 80% drop from $1250 to $250.

Finally here we are today. So far we're up x5 from say $600 to a high (so far) of $3000. 9 months so far...

So...I'm out. For now. Exponential moves always have a bust. I may miss the rest of this spike, but hey, I've done OK

I may buy some precious metals now?

In any case, I'm thinking $1000 is a good re-entry point, maybe before Christmas.

Will I regret this or no???!!!!!

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