Define irony...
Did you know that currently bitcoin is up the exact same amount year-to-date as it was back in 2016?
Do you know when bitcoin had its previous halving?
If you said 2016, well then you deserve a prize...
That's right, the previous halving took place on July 9th, 2016 which is why it makes sense to pay attention to it when talking about bitcoin price cycles.
Check this out:
(Source: ~~~ embed:1288022503869251584) twitter metadata:Q29pbkNvcm5lckRhbm55fHxodHRwczovL3R3aXR0ZXIuY29tL0NvaW5Db3JuZXJEYW5ueS9zdGF0dXMvMTI4ODAyMjUwMzg2OTI1MTU4NCl8 ~~~
This was also a halving year with the most recent halving taking place on May 11th, 2020, which is what makes this stat so interesting and applicable.
If this trend were to continue we would be looking at bitcoin making new highs on or around January 2nd, 2021.
It's all about the halvings...
It really is amazing how much bitcoin seems to follow these 4 year price cycles.
It's not an exact science but things have mirrored them pretty closely.
In both previous halvings we saw bitcoin peak roughly 12-18 months after the halving.
Which looked something this:
(Source: ~~~ embed:1288109260270759936) twitter metadata:ZWNvaW5vbWV0cmljc3x8aHR0cHM6Ly90d2l0dGVyLmNvbS9lY29pbm9tZXRyaWNzL3N0YXR1cy8xMjg4MTA5MjYwMjcwNzU5OTM2KXw= ~~~
If it were to continue to follow the pattern set forth in 2016 halving, we would see bitcoin make new highs in late 2020 or early 2021.
Then we ultimately would see the price peak in late 2021.
It probably won't follow the previous pattern exactly, but either way it should be a very exciting next 12-18 months.
The bull run has started, hope you packed your bags.
Stay informed my friends.
-Doc
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What is your opinion for the BTC price at the end of 2021 @jrcornel :D
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I think by the end of 2021 we will have seen bitcoin get very close to $100k. It sounds crazy I know, but if it doesn't it means it will have stopped following historical patterns and trends.
Muchas gracias por la excelente información, gracias feliz día.
De nada.
The Bitcoin blockchain is amazing,its almost like its programmed to follow the same pattern of rise and fall in a circle.
Yep, it does doesn't it. That's what the halving roughly every 4 years seems to have created.
it is a combination of BTC properties and human nature that is creating a pattern
So... Are we going to see BTC at 20k $ again? ;)
I think so, yes.
Yep doc ...
... after the long, long "crypto winter" we've endured, we can only hope that finally our patient HODLing will be rewarded!
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Yep, and thanks for the curation!
I am frantically stuffing more in my bags as we speak
Well, isn't that eerily ironic! I remembered back when I bought my first Bitcoin right around that time (maybe earlier, actually), and if only I knew it could've blown up to nearly $20k just the next year :-O
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