If history repeats we are going up 7x from the peak of Wave #1
Wave number 1 of the recent cycle is now complete
Price tends to have memory, especially with bitcoin and crypto which is why I think paying attention to patterns is so important.
There's another pattern with these waves that when they complete they tend to see even higher returns as they progress.
We have just completed the first wave, and if 2017 is any guide, we will see roughly 7.5x gains from here by peak number 3.
Check it out:
(Source: https://twitter.com/BTC_Archive/status/1368198390232846340/photo/1)
The returns were even greater during the previous cycles between waves.
However, I don't think we are going to see that kind of increase from the recent highs.
I think we are seeing diminishing returns with the most recent cycle likely to return slightly less than half of the previous, at least based on the trend of diminishing returns from cycle to cycle I am noticing.
If that were to repeat, a return from the peak in the 3x-4x range seems perfectly reasonable from those highs.
Which points to a peak price of $170k to $220k.
Those numbers sound pretty reasonable to me.
Stay informed my friends.
-Doc
I'm playing it slightly safe and figuring on about 2X from here before I start feathering more into stablecoins and then lend them out on the lending platforms....etc.
It's a huge hoping dream to come..
Let's keep watching
@jrcornel Let see how much it can go from this point , but I see around 50-60k it will take time to reach to new high. Analyst say it can reach 100k by the end of the year.
Hi @jrcornel
Bitcoin price is below 50k USD mark and it looks like it will take a lot to break this mark. Do you think that this year we are going see BTC reaching 100k price mark ?
These numbers are quite huge but we are even in the Crypto world so nothing is impossible. Let's watch out for what the future has for us
I have been hesitant to jump on the 100K plus bandwagon, because of the huge amount of money it starts to take to lift anything that high. I am seeing more compelling arguments for 200K and with the money printers turned on full blast, I am redoing my thinking upwards.
armadilloman is a hacker/hacked account.
@jrcornel please do not click on any links it may post. More info: 1 | 2. Sincerely, @keys-defenderComment 10% downvoted to make it less visible. This message is self-voted to be more visible among others.
What the hell are talking about?
It’s marked as phished in spaminator’s api - will whitelist you tomorrow
Yep, that's exactly what I've done as well. Before pandemic spending, I thought we could $100k eventually. Now, I would be shocked if we don't hit $100k this year. :)