Where will this next phase of the bull market take us before topping out?
To know what to expect going forward, we must first look backwards!
There is a chart I love to look at when deciding how best to play the moves in BTC.
The chart is this one right here:
These bull markets are chalk full of 100% gains followed by 30% dips followed by 100% gains followed by 30% dips etc.
Well, the recent dip took us to almost $42k, which was was not quite 30%, but these things aren't hard and fast rules anyways but instead more of a general guideline.
If we take 100% from those $42k lows, we can expect a price of at least $84k on this next surge.
For those of you expecting bitcoin to have trouble around $70k or $75k, history says that is probably not going to be the case.
In fact, it's possible/probable that bitcoin goes up even more than 100% from those lows.
In that case $100k is even on the table during this surge before the next 30% correction...
Stay informed my friends.
-Doc
@jrcornel you have said it all. If one need to hit BTC, You need to consider the wall of backward. Good of it you have on the chart
It will be a great feeling to finally see bitcoin hitting 100k up there. And I believe it is definitely going to drag along some of the atlcoins up also majorly steem