Bitcoin's flightpath to the moon. Will the Fib cycle repeat?
Bitcoin's flightpath to the moon. Will the Fibonacci cycle repeat?
The Past
1. November 2013: Bitcoin reaches a high of $1163
2. January 2015: After the highs bitcoin quickly entered a bear market bottoming out at $152.4
3. February 2017: After a long and anxious bear market Bitcoin powers above the 2013 high making new highs then quickly retraces 34%. A few weeks later the rally continues and bitcoin makes fresh highs.
4. August 2017: Bitcoin hits the 4.618 Fib level calculated with the previous cycle top and bottom levels. After peaking at $4979 a swift and severe 39% drop to the downside ensues. This is the biggest retracement of the bull cycle.
5. December 2017: After the retracement bitcoin quickly recovers and goes on to hit the 8.618 Fibonacci extension zone reaching a new cycle high of $19666
6. December 2018 After the highs bitcoin quickly entered a bear market bottoming out at $3122
The Present & Future
7. December 2020 : After a long and anxious bear market, made even more anxious by a global pandemic, Bitcoin powers above the 2073 high making new highs. Will it retrace 20% or more before continuing higher or will it just rocket up without a care in the world!
8. May 2021? : Bitcoin hits the 4.618 Fib level calculated with the previous cycle top and bottom levels. After peaking near $80,000 a swift and severe 30% drop to the downside ensues. This is the biggest retracement of the bull cycle. Will this be the end of the 2021 bull run or will it continue higher?
9. September 2021?: Bitcoin defies expectations and rockets up after experiencing a swift retrace earlier in the year peaking just shy of $300,000. The Moonboys , Crypto talking heads and TV personalities come out in droves smiling gleefully on CNBC They predict ever higher and more ridiculous prices for Bitcoin. Will prices continue higher or will a fresh generation of noobs be left holding some very heavy bags?
10. Late 2022?: Bear Market bottom? will the bull and bear cycle repeat as it has done before?
This is just a prediction i made purely for my own entertainment. I will look back at it a year from now and laugh at it. It is NOT intended as financial advise as it would be foolish to base your financial plans on the ramblings of some random person on the internet! :-P
The Past
1. November 2013: Bitcoin reaches a high of $1163
2. January 2015: After the highs bitcoin quickly entered a bear market bottoming out at $152.4
3. February 2017: After a long and anxious bear market Bitcoin powers above the 2013 high making new highs then quickly retraces 34%. A few weeks later the rally continues and bitcoin makes fresh highs.
4. August 2017: Bitcoin hits the 4.618 Fib level calculated with the previous cycle top and bottom levels. After peaking at $4979 a swift and severe 39% drop to the downside ensues. This is the biggest retracement of the bull cycle.
5. December 2017: After the retracement bitcoin quickly recovers and goes on to hit the 8.618 Fibonacci extension zone reaching a new cycle high of $19666
6. December 2018 After the highs bitcoin quickly entered a bear market bottoming out at $3122
The Present & Future
7. December 2020 : After a long and anxious bear market, made even more anxious by a global pandemic, Bitcoin powers above the 2073 high making new highs. Will it retrace 20% or more before continuing higher or will it just rocket up without a care in the world!
8. May 2021? : Bitcoin hits the 4.618 Fib level calculated with the previous cycle top and bottom levels. After peaking near $80,000 a swift and severe 30% drop to the downside ensues. This is the biggest retracement of the bull cycle. Will this be the end of the 2021 bull run or will it continue higher?
9. September 2021?: Bitcoin defies expectations and rockets up after experiencing a swift retrace earlier in the year peaking just shy of $300,000. The Moonboys , Crypto talking heads and TV personalities come out in droves smiling gleefully on CNBC They predict ever higher and more ridiculous prices for Bitcoin. Will prices continue higher or will a fresh generation of noobs be left holding some very heavy bags?
10. Late 2022?: Bear Market bottom? will the bull and bear cycle repeat as it has done before?
This is just a prediction i made purely for my own entertainment. I will look back at it a year from now and laugh at it. It is NOT intended as financial advise as it would be foolish to base your financial plans on the ramblings of some random person on the internet! :-P