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.
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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.