The not-so-sexy truth about bitcoin's next bull run
Updated
Remember when bitcoin made you rich over night? Unfortunately for BTC maximalists, those days might be history.
Fact: Each of the last 3 bull runs has been approximately 19% of its predecessor.
The last bull run ($3124 to 69K) was approximately 22.09x. What's 19% of 22.09x? A measly 4.2x. So, if we assume the bottom is around 17.6k, the next top projects to be around 73.9K. That's a whopping 7% above the previous ATH.
I still think 100K is possible, or even probable in a blow-off-top scenario. But if you're an investor under the age of 60, I wouldn't bet my retirement on old bitty. From a trading perspective however, 4x is a layup, practically guaranteed.
Fact: Each of the last 3 bull runs has been approximately 19% of its predecessor.
The last bull run ($3124 to 69K) was approximately 22.09x. What's 19% of 22.09x? A measly 4.2x. So, if we assume the bottom is around 17.6k, the next top projects to be around 73.9K. That's a whopping 7% above the previous ATH.
I still think 100K is possible, or even probable in a blow-off-top scenario. But if you're an investor under the age of 60, I wouldn't bet my retirement on old bitty. From a trading perspective however, 4x is a layup, practically guaranteed.
Note
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.