The Chinese Lunar New Year has so far played a very important part in Bitcoin history and possibly its future price. Four years cycle is the average time we will witness BTC boom and bust. I will highlight BTC two of the four-year cycles.
Back in 2010, there wasn’t any market for bitcoin. It was loosely traded among geeks and nerds. It was on May 22, 2010, a programmer purchased two large Papa John's pizzas for 10,000 bitcoins!
In Feb 4th 2011, on the second day of the Lunar New Year Mt Got started trading bitcoin at around 10 cents. It crossed that $1 mark somewhere in April 2011. BTC had its first exponential run in May when it crossed $8. And 3 years later on Nov 29, 2014, it reaches ATH of $1118. Thereafter BTC entered a 63 weeks bear market with the discovery of BTC theft at Mt Got. That bear market ended in Feb.2015
Bull market Feb 4, 2011 - Nov 29, 2013 total 147 weeks.
Bear Market Nov 30, 2013, to Feb 19, 2015 - 63 weeks ( total 210 weeks or 4 years 2 months)
The next cycle began on Feb 19, 2015 (Lunar New Year) and three years later on Dec 18, BTC achieved its ATH of $19870 (Bitstamp) and since then BTC is in the bear market
Bull market Feb 19, 2015 - Dec 18, 2017 total 147 weeks.
Bear Market Dec 19, 2017 - Present 55 weeks (total 202 weeks)
The next Lunar New year is Feb 5. That's only three weeks away. If the pattern were to repeat in history, the next bull trend will begin next month Feb 5!
Back in 2010, there wasn’t any market for bitcoin. It was loosely traded among geeks and nerds. It was on May 22, 2010, a programmer purchased two large Papa John's pizzas for 10,000 bitcoins!
In Feb 4th 2011, on the second day of the Lunar New Year Mt Got started trading bitcoin at around 10 cents. It crossed that $1 mark somewhere in April 2011. BTC had its first exponential run in May when it crossed $8. And 3 years later on Nov 29, 2014, it reaches ATH of $1118. Thereafter BTC entered a 63 weeks bear market with the discovery of BTC theft at Mt Got. That bear market ended in Feb.2015
Bull market Feb 4, 2011 - Nov 29, 2013 total 147 weeks.
Bear Market Nov 30, 2013, to Feb 19, 2015 - 63 weeks ( total 210 weeks or 4 years 2 months)
The next cycle began on Feb 19, 2015 (Lunar New Year) and three years later on Dec 18, BTC achieved its ATH of $19870 (Bitstamp) and since then BTC is in the bear market
Bull market Feb 19, 2015 - Dec 18, 2017 total 147 weeks.
Bear Market Dec 19, 2017 - Present 55 weeks (total 202 weeks)
The next Lunar New year is Feb 5. That's only three weeks away. If the pattern were to repeat in history, the next bull trend will begin next month Feb 5!