If we were to see a repeat of the 2017 market cycle play out for Bitcoin, what prices could we see at the next peak (and subsequent bottom)?
Fortunately, Digitalik.net has done the work to find an answer. Let's take a look.
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▶️ 3Speak
I'm inclined to agree with Dave the Wave. The hype cycles will get less and less dramatic with the passage of time. While the s2f figure will double every four years, so will money already in Bitcoin. Also, the drop in new supply per block will be half as much as the previous time each time the mining rewards are reduced by 50%. So, maybe not $300k but something like $100k. But if I'm wrong - and I'd love to be - I'll know when/if the price breezes past $100k. :)
Makes a lot of sense. I'd still be absolutely thrilled with $100k, that's already life-changing gains. $300k would just be a ridiculous cherry on top. Do you agree with Dave the Wave on time as well? In other words, do you think the top will be end of 2022 VS end of 2021?
It's really hard to say. Because the 2016 halvening was in July and this years halvening was in May, I believe that could mean the top could be between October and November next year. But if Dave is onto something, then we could see it in December 2021 or January 2022. I really don't know. But I will be prepared for the early scenario as well.
That will be great to see the price hit the peak again. Around 2017 i was still a new one to the crypto world
Hopefully you've been able to accumulate at low prices and will be well in profit by the time we see $20k this time around 😎
@tipu curate
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Usually, bitcoin whales don't do what all can see, Market is extremely bullish, Everyone can very easily predict that BTC will cross 10K soon, But let see what whales will do.