As things continue to look bearish for BTC - I thought I'd take a step back any try analyse BTC with a more macro and cyclical outlook.
Taking into account the next halving event occurring in mid/late March 2024, and the respected logarithmic growth curves of the asset - we can use the bar pattern of one of our previous cycles beginning in Sep 2015 and concluding in Dec 2017 to gain some insight into how BTC may look going forward.
Once the Y axis is adjusted to account for the growth of the asset class, it looks quite a fitting potential outcome for Bitcoin over the next few years - especially when taking into account the Fib extensions for potential future price targets and areas of interest.
Obviously this has been made with my bias in mind - that BTC will continue to grow and that we have already bottomed in price. But I think most would agree this pattern overlay isn't out of the realm of possibility all things considered, as it accounts for both technical and fundamental factors going forward.
I could have gone more in depth into the length of cycles, factors of returns following halving events etc etc. But for now I wanted a broad and simplistic overview of how I could see Bitcoin's price playing out.
$160,000 before 2025.
Let me know what you think!
Taking into account the next halving event occurring in mid/late March 2024, and the respected logarithmic growth curves of the asset - we can use the bar pattern of one of our previous cycles beginning in Sep 2015 and concluding in Dec 2017 to gain some insight into how BTC may look going forward.
Once the Y axis is adjusted to account for the growth of the asset class, it looks quite a fitting potential outcome for Bitcoin over the next few years - especially when taking into account the Fib extensions for potential future price targets and areas of interest.
Obviously this has been made with my bias in mind - that BTC will continue to grow and that we have already bottomed in price. But I think most would agree this pattern overlay isn't out of the realm of possibility all things considered, as it accounts for both technical and fundamental factors going forward.
I could have gone more in depth into the length of cycles, factors of returns following halving events etc etc. But for now I wanted a broad and simplistic overview of how I could see Bitcoin's price playing out.
$160,000 before 2025.
Let me know what you think!
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