2021 should be even better than 2020
Based on the Block Reward Halvings, bitcoin tends to move in 4 year cycles, and with the halving happening last year, this is the year it goes bonkers.
Every 4 years since bitcoin was created it goes bonkers, well not every 4 years starting from day one, but from the time it peaks it takes 4 years later to peak again.
These years tend to be the year after a halving.
Here's the history of those moves and returns:
2013 was a huge year for bitcoin after the halving in 2012.
Then 2017 was a huge year for bitcoin after the halving in 2016.
Now, 2021 is set to be a huge year for bitcoin after the halving in 2020.
There's not a ton of data to go off of but the rally in 2017 was roughly 4x smaller than the rally in 2013 based on the ending prices.
If we take that same 4x number and equate that to 2021 compared with 2017, perhaps we will see a rally in the range of 300%.
And since we started the year around $30k, we would use that as our starting point for 300% gains.
Adding them together would get us to a $120k price target by the end of this year.
This doesn't mean that would be our peak, but where we would end the year.
Sounds pretty spicy to me!
Posted Using LeoFinance Beta