In this Bitcoin analysis, I used the Bitcoin Logarithmic Growth Chart to compare similarity between 2013 cycle and 2021 cycle. In both cycle, in the middle of bull run, BTC has touched the 76.8 % fib resistance and retraced back to 38.2 % level. In 2013, after bouncing back from the 38.2% fib level, BTC had a major bull run upto $1200.
For the timing of when the bull run top of this cycle will be, I used Trend Based Fib Time from high of 2017 bull run of $20,000 to its low of $3,000 and then to the local top of $64,000. If we are to hit the top of this cycle at 1.618 level of trend based fib time like in 2013, then the bull run will continue until 4th quarter of next year and the price of Bitcoin will top around $200,000.
P.S - Not a financial advice. La hasta and VALHALLLAAAA!!!!!!!!!!
For the timing of when the bull run top of this cycle will be, I used Trend Based Fib Time from high of 2017 bull run of $20,000 to its low of $3,000 and then to the local top of $64,000. If we are to hit the top of this cycle at 1.618 level of trend based fib time like in 2013, then the bull run will continue until 4th quarter of next year and the price of Bitcoin will top around $200,000.
P.S - Not a financial advice. La hasta and VALHALLLAAAA!!!!!!!!!!
Comment:
This would also be in confluence with the lengthening cycle and diminishing return theory.
Comment:
200k Bitcoin in November 2022 . Heard it here first