"The When and How High" for BTC's Next Peak
Remember BTC at $20,000?... I do, and I even remember selling alts for BTC during those mad times, when it was around $18,000 or so. That stupid I was, believing that the sky was the limit. Some call that newbies trap, and man what a fall I had in it.
It's almost three years since BTC has reached its ATH and since then it only managed to touch $14,000 once, last year, before getting to four digits again, although many were expecting it to blast through the $20k since 2018. However, my intuition, and some TA from renowned Bitcoinists tell that we just started our climb in crypto and interesting and prosperous times lie ahead of us.
It's also quite well known in the crypto world that the BTC halving has always been a catalyst for multi months and years bull markets, as a catalyst. We just had another halving for BTC a few months ago and it seems that bulls are protecting BTC at above $10k quite strong.
After the previous halving, it took Bitcoin about one and a half years to reach new ATHs and the exponential growth between halvings was simply staggering. If I'm not mistaking, BTC was valued at around 600 bucks just after the second halving, and from there it got to $20,000 in less than twenty months. Strong hands have been highly rewarded during that bull cycle and a 33x ROI got in the hands for the ones buying way under $1000 and selling at $20k.
This year, after the third halving, BTC was sitting at a bit under $10,000 thus if history repeats itself and BTC will record another 33x price growth from its halving price, it means that next year we will have a $300,000 BTC... Imagine that!
When would that be, you may ask... Well, I guess that might be a wrong question as well as a legit one. First, we could ask ourselves if it will get to that number, and personally I doubt it will, but if it will get to such a dollar valuation and respect the time frame from the previous halving, for its bull market, then it means that we will have an over a quarter million dollars BTC sometimes in October-November, 2021...
Now I wish I had a crystal ball right now to make things easier and more profitable, but unfortunately I don't have one. I'm no TA guy either, but I rely a lot on my intuition, and some crypto gurus filtered information that I collected over the years and I'd say that BTC might not get to $300,000, for its next ATH, but it for sure blast the previous one. I also believe that the time frame for the bull cycle will somehow repeat and we will see Bitcoin scoring its third ATHs sometimes in the fall of 2021.
October, November or even a bit sooner. It all depends however on how Corona will melt away and if we'll gonna have again a black swan, or not. That's my take on BTC's future ATH and the time we could expect it to be reached. What about you, how high do you think it will get, and when would you expect it to peak?
Thanks for attention,
Adrian