The Bitcoin halving occurs about once every 4 years. And, the last time that it happened, the price was $9,670, but it was 518 days before the halving that the bear market low was hit. In fact if we look at the last 3 halvings, the bear market low was on average 490 days before the halving event. If history repeats itself, the bear market bottom has already...
Looking at the weekly chart for Bitcoin, we may have already touched the floor price for BTC. Drawing a trend line from the low in August of 2015 (orange line), we see that there is strong support for Bitcoin at roughly $17,500. Bitcoin is currently in the "buy zone," and a price of BTC approaching $17,500 represents a significant buying opportunity. On the...
In the past, Bitcoin has made great gains over gold. Measure in the price of gold, Bitcoin did a 10x in 2013 and a 14x in 2017. Will history repeat itself in 2021? Will BTC do another 10x to 14x on gold?
If history repeats itself and follows the last halving cycle, in 2017, we saw a 28x increase 17 months after the halving. The last halving event was May 22, 2020, and BTC was valued at $9670.