History May Not Always Repeat Itself, But Bitcoin Might.
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$100,000 BTC should be in the back of your mind if it isn't already. Scoffing at the idea? You aren't alone. But with price sitting at 16.6k at this moment, and a historic tendency to break all-time highs after reaching them, one has to consider the logic on what the next trend high looks like, as we approach the current all-time high of 19.5k.
Sure there will be blood in the water by the time it happens, and many will be in disbelief when it does, but the overall train of thought I have is almost conservative compared to her explosive history of 4,000% or 1,500% returns in a matter of months. That said, as we near ATH, 500% from current ATH is absolutely realistic.
The chart here shows you the time that has passed since the last high in December 2017. You'll notice it is in alignment at this point with the 2015-2017 run, which we currently almost set up identically to in comparison. Price then exploded after the 1200 day period for 1500% percent growth.
While I can't promise history repeats itself, it certainly looks as if bitcoin will.
Sure there will be blood in the water by the time it happens, and many will be in disbelief when it does, but the overall train of thought I have is almost conservative compared to her explosive history of 4,000% or 1,500% returns in a matter of months. That said, as we near ATH, 500% from current ATH is absolutely realistic.
The chart here shows you the time that has passed since the last high in December 2017. You'll notice it is in alignment at this point with the 2015-2017 run, which we currently almost set up identically to in comparison. Price then exploded after the 1200 day period for 1500% percent growth.
While I can't promise history repeats itself, it certainly looks as if bitcoin will.
Note
Update as of December 27, 2020 - As expected, the price has continued beyond 19.5k and currently sits at $27,000 at the time of this writing. There is yet to be a major correction of any kind, and the trend strength is surprisingly stable. This post is still incredibly relevant.
Note
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Eric Thies
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