A brief review of the BITCOIN market cycles based on fractals.
We can observe some very interesting characteristics that repeat over time in a very similar way, as for example:
+ The approximate duration of the bullish market. + The approximate duration of bearish market. + The touches on the bottom of the RSI. + The 50MA & 200MA also follow a pretty interesting pattern, I did not let it on the chart so it would not be polluted, but you do this easily by opening a BTCUSD bitstamp chart in 1W time-frame and enabling the 50/180 moving averages. + The halving (vertical blue lines) that happens on average every 4 years (Moment where the reward in bitcoins per mining is reduced by half in each block) also shows over time to have strong relation with the bull market.
Based on these fractals we would reach the historical top of 100k USD in November / December 2021.
This is a long-term vision, but it is quite interesting and allows us to have great prospects for the future of bitcoin and the crypto market.
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Excellent analysis! I'm a bit more optimistic. I'm thinking 300K by end of 2021.
LiuTrader
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@PoopTrader, Hey, appreciate your comment and analysis, but to me 300k by the end of 2021 sounds a bit exaggerated, buttttttt I pray with all my heart for this to happen.
Lex0924
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Can we have a update here in 2021... I've had this bookmarked in my tabs for the past couple of years...
May I ask how you came up with the multiplier that leads to a 100k price?
TG_Advisory
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Thank you for the great analysis. I am glad that such a professional as you has seen and view the same pattern as I do. Hopefully it will work out. Good Luck and thank you for the hard work.
LiuTrader
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@TodorGrigorov, Hey thanks, yes seems that we have the same long term vision here! Thanks for your support.