Bitcoin just had its best Q1 in 8 years and it's looking for more!
Forget 2017, this bull market may be more like 2013!
Most people have been comparing the current bull market to what happened back in 2017, and for good reason.
There have been a ton of similarities between the two bull markets plus the market structure is a lot more similar to 2017 than it was during the prior bull markets.
However, there are still some stats that are more like the bull market in 2013 than the one in 2017, including this one...
Bitcoin just had it's best Q1 since 2013 and put in its 6 straight month of gains...
(Source: https://twitter.com/DocumentingBTC/status/1377678653681758215/photo/1)
The 6th straight month of gains is the second longest streak ever, dating back to.... you guessed it... 2013.
Back in 2013 it had the longest streak ever with 7 straight months of gains.
Where do we go from here?
While we don't have a crystal ball, we can look to past patterns to get an idea where we might go from here.
Judging by the above, bitcoin may only have another month or two of consecutive gains in it before it needs a pullback.
With April historically being the 2nd best month for bitcoin gains ever, it's hard to believe that pullback will happen this month.
However, once we get passed this month and possibly the next, we may see a month or two of consolidation.
The 2nd quarter as historically been very good for crypto, while Q3 has not been so great.
Which means, we could see bitcoin continued to do well this month the next month and possibly the following month before see a month or two of consolidation.
My guess is we see bitcoin hit $100k by July of this year.
It seems I'm not the only one who thinks that:
(Source: https://twitter.com/WClementeIII/status/1377977629438001158/photo/1)
The long term hodlers have stopped selling as well.
It's time to move up again!
we all know the price of bitcoin has indeed increased this year better than previous years. I hope that in the future the bitcoin price will increase even more and will be stable.
I think it will continue to have these boom and bust cycles but at higher and higher prices along the way.
Gracias por la información!
which we hope so, but if the trade in trade there must be a period of ups and downs. the term there is a period of profit and loss. what we hope here is that bitcoin can maintain its price in the long term and continue to increase.
In some respects I don't know what to think as far as the 2013 vs 2017 situation. I'm sure it will blow our minds whatever ends up happening.
If it's more similar to 2013 we are going to have a big correction and consolidation at some point before the eventual blow off top. It basically had 2 major moves up, as opposed to the stair step type of move in 2017.
I expect a serious drop after mid-April. However, this will help it peak in May. i think btc will test 80k dollars in may. What do you think?
Well the pattern has been for bitcoin to do well the first half of the month and struggle towards the end of the month, which would support your thoughts. I think bitcoin hits $100k by July, what happens between now and then is a little less clear.
Another excellent review!
It is so great to see SBDs climb to record highs. With BTCs rising in value, the ton of money going around cryptos and Q2 still going strong, the next few months should bring us into some phenomenal heights...
Thanks for sharing, again, namaste :)
They just keep going. They are back over $10 again now.
Your posts are very good.I like your post.
How high will SBDs go?
I could see them going all the way to $20 with enough pump.
Great time of year to be in bitcoin.