bitfolio-david

bitfolio-david

The Bitcoin halving occurs about once every 4 years. And, the last time that it happened, the price was $9,670, but it was 518 days before the halving that the bear market low was hit. In fact if we look at the last 3 halvings, the bear market low was on average 490 days before the halving event. If history repeats itself, the bear market bottom has already...

bitfolio-david

Looking at the weekly chart for Bitcoin, we may have already touched the floor price for BTC. Drawing a trend line from the low in August of 2015 (orange line), we see that there is strong support for Bitcoin at roughly $17,500. Bitcoin is currently in the "buy zone," and a price of BTC approaching $17,500 represents a significant buying opportunity. On the...

bitfolio-david

In the past, Bitcoin has made great gains over gold. Measure in the price of gold, Bitcoin did a 10x in 2013 and a 14x in 2017. Will history repeat itself in 2021? Will BTC do another 10x to 14x on gold?

bitfolio-david

If history repeats itself and follows the last halving cycle, in 2017, we saw a 28x increase 17 months after the halving. The last halving event was May 22, 2020, and BTC was valued at $9670.