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From: BullHorn (Rep: 0) reply to wilksteDate: 08/04/2019 21:34
Forum: Bitcoin Investment Trust - Msg #427Thread #674092732 (Rec: 0)
Re: Chartwise BTC is technically now at the same place it was in July 2017 tradin...

pretty sure every boom bust phase from previous ATH to new ATH is at least 4X... usually more. In 2013 spring, the ATH was about $260 before a steep sell-off and a new bull market that saw btc at $1100 at the end of the year. perhaps there is a correlation between short bearish periods like those of 2013 and diminished new highs. By contrast, the very long bitcoin winter of 2014-2016 led to the monster move to 19k or approximately 18x the previous high (depending on if you use the mtgox high or those of the other exchanges).

70k sounds very reasonable for a 2020 or 2021 high.



Reply to wilkste - Msg #136718 - 08/03/2019 20:55

Chartwise BTC is technically now at the same place it was in July 2017 trading around
$2,500 having just tested its rising 50dma and bouncing off that perfectly after
a big run up in first half of 2017 like the run up in first half of 2019 we've had.
>
If this chart pattern continues to repeat the 2017 action then BTC still has another
600%+ to go on the upside over the next 5 months to Jan 2020 to be the equal
% wise of the DEC 2017 MAJOR TOP at about $19000. That means BTC is headed
to $70,000+ This time around before a MAJOR TOP is formed !!
>
Will be fascinating to see how this actually plays out. Keep in mind the
BTC HALVING event doesn't come until MAY 2020 and ALL of the
Biggest Run ups in BTC price have happened in the Year or so AFTER the
HALVING event. So even if we do get a big run up in the next 5 months
then another big run up should be expected in the 2nd half of 2020
into first half of 2021.
?
Re: BTC @ High-o-day imo another Major Rally began this wk will exceed June/July ...
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