Btc on take off to 55k
This is an idea I've been meaning to do for some time as I was going through some comparisons of Fibonacci levels within Bitcoin's long-term Cycles.
The one rough constant I found within Cycles historically that may change the scene as we know it is the number 2.6. Until now, this appears to be the number of times that the phases since August 2015 are longer than their respective before that date. I will go into more detail what I mean by that.
* The 1st rally phase from July 2010 to the June 2011 High can be compared with the 1st rally phase of August 2015 to the December 2017 High. The latter phase is roughly 2.6 times longer than the former
* The Pull-back phase of June 2011 to October 2011 is comparable to the Pull-back phase of December 2017 to December 2018. The latter phase is roughly 2.6 times longer than the former
As a result we can assume that these two form the start of two separate MEGA CYCLES, instead of the traditional notion that BTC is already on its 4th Cycle. If we keep the same constant of the Cycle 2 separate phases being 2.6 times longer than their respective phases of Cycle 2 then we can assume that:
* Bitcoin is currently on the 2nd Rally Phase of Cycle 2 which will be 2.6 times longer than the one of Cycle 1, thus lasting until June 2024! How how can it go? Well based on Cycle 1, whose peak was within the 1.382 and 1.5 Fibonacci extensions, that can be anywhere within $125k - $220k!
* The Bear market of Cycle 1 is from December 2013 to August 2015, which is longer that the pull-back phase, thus 'feeling' more natural to be called 'Bear market'. Similarly the Bear Market of Cycle 2 should be 2.6 times longer and extend up to December 2028!
I know this is the first time it is argued that Bitcoin might be in just its 2nd historic Cycle but in my opinion it does offer a fresh perspective and certainly food for thought. Do you agree with such a theory? Feel free to share your work and let me know in the comments section below!
This is an idea I've been meaning to do for some time as I was going through some comparisons of Fibonacci levels within Bitcoin's long-term Cycles.
The one rough constant I found within Cycles historically that may change the scene as we know it is the number 2.6. Until now, this appears to be the number of times that the phases since August 2015 are longer than their respective before that date. I will go into more detail what I mean by that.
* The 1st rally phase from July 2010 to the June 2011 High can be compared with the 1st rally phase of August 2015 to the December 2017 High. The latter phase is roughly 2.6 times longer than the former
* The Pull-back phase of June 2011 to October 2011 is comparable to the Pull-back phase of December 2017 to December 2018. The latter phase is roughly 2.6 times longer than the former
As a result we can assume that these two form the start of two separate MEGA CYCLES, instead of the traditional notion that BTC is already on its 4th Cycle. If we keep the same constant of the Cycle 2 separate phases being 2.6 times longer than their respective phases of Cycle 2 then we can assume that:
* Bitcoin is currently on the 2nd Rally Phase of Cycle 2 which will be 2.6 times longer than the one of Cycle 1, thus lasting until June 2024! How how can it go? Well based on Cycle 1, whose peak was within the 1.382 and 1.5 Fibonacci extensions, that can be anywhere within $125k - $220k!
* The Bear market of Cycle 1 is from December 2013 to August 2015, which is longer that the pull-back phase, thus 'feeling' more natural to be called 'Bear market'. Similarly the Bear Market of Cycle 2 should be 2.6 times longer and extend up to December 2028!
I know this is the first time it is argued that Bitcoin might be in just its 2nd historic Cycle but in my opinion it does offer a fresh perspective and certainly food for thought. Do you agree with such a theory? Feel free to share your work and let me know in the comments section below!