{"id":414569,"date":"2020-02-13T21:00:56","date_gmt":"2020-02-13T21:00:56","guid":{"rendered":"https:\/\/ktsl888.com\/?p=414569"},"modified":"2024-06-11T11:36:05","modified_gmt":"2024-06-11T11:36:05","slug":"historic-bitcoin-cycle-all-time-high-2021","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/historic-bitcoin-cycle-all-time-high-2021\/","title":{"rendered":"Historic Bitcoin Cycle Suggests No New All-Time High Until 2021"},"content":{"rendered":"
Markets are cyclical, and history often repeats.\u00a0<\/span><\/p>\n And if the bear to bull cycle from 2014 through 2017 is any indication, Bitcoin<\/a> could have as much as another full year before the cryptocurrency revisits its all-time high.<\/span><\/p>\n The crypto market at large is widely convinced that a new bull market is forming for Bitcoin<\/a> and altcoins like Ethereum, Litecoin, and XRP<\/a>.<\/span><\/p>\n Numerous signals<\/a> tend to back up the theory, and the entire market is resting and consolidating just below critical resistance \u2013 a sign that the resistance level may soon be broken.<\/span><\/p>\n Related Reading | 10 Factors Confirm a New Crypto Bull Market Has Officially Begun<\/a>\u00a0<\/strong><\/em><\/p>\n But while a push beyond the current levels would certainly suggest a new bull market is here, a rejection at current levels would bring Bitcoin back in line with past bear to bull cycles.<\/span><\/p>\n Bitcoin is just 11 years young<\/a>, so there aren\u2019t many bear markets cycling into bull markets to glean information from.<\/span><\/p>\n The most significant bear market was following the 2013 peak when Bitcoin reached over $1,000 for the first time.<\/span><\/p>\n It was a break back above this level that caused Bitcoin to go parabolic throughout the remainder of 2017 \u2013 a rally that led to Bitcoin<\/a> setting yet another new all-time high.<\/span><\/p>\n Investors realizing that the mysterious asset rose from the grave and breached its previous high has in the past caused a strong wave of FOMO that pushed prices to a new record.<\/span><\/p>\n The same thing is expected once again once the mainstream public catches wind that Bitcoin made it past $20,000 after disappearing from the public eye for a few years of a downtrend.<\/span><\/p>\n But this may be a ways off, according to the previous cycle.<\/span><\/p>\n <\/p>\n The time elapsed between the last cycle\u2019s all-time high and it is revisited was roughly 1,135 days.<\/span><\/p>\n This time around, Bitcoin<\/a> is only roughly 800 days through its current bear to bull cycle, suggesting that there\u2019s potentially another year worth of price action before the leading crypto by market cap revisits $20,000.<\/span><\/p>\n The data also shows that Bitcoin\u2019s current rally is overheated compared to the same point during the last cycle.<\/span><\/p>\n <\/p>\n At just 800 days in, Bitcoin is currently 230% up from the bottom at $3,100. 800 days in the last time around, Bitcoin was up only 150% from the bottom.<\/span><\/p>\n Also at the current timeframe, there\u2019s only 100% gains left to go before Bitcoin<\/a> reaches $20,000. At the same point during the last cycle, Bitcoin had just under 200% left to go.<\/span><\/p>\n It\u2019s also worth noting that when plotted over the logarithmic growth curve<\/a>, Bitcoin spent a full 850 days in the blue bottom channel, before breaking out and going on a rally. During the current cycle, the first-ever cryptocurrency spent a cumulative 310 days in the blue band during two separate dips into it.<\/span><\/p>\n <\/p>\n Bitcoin<\/a> is currently at the top point of the bottom blue band, which is a logical place for a correction to occur, potentially pushing the crypto asset back into the accumulation band a while longer.<\/span><\/p>\n And importantly, this cycle, the absolute bottom of the growth curve has yet to be touched.<\/span><\/p>\n Bitcoin reaching these levels at a faster rate, either suggests that Bitcoin is more bullish this time around, and could set a new all-time high much sooner than the previous cycle.<\/span><\/p>\n Related Reading | Global Altcoin Breakout Could Usher Return of Alt Season Crypto Riches\u00a0<\/a><\/strong><\/em><\/p>\nComparing Previous Cycles With the Current Bear and Bull Markets<\/h2>\n
Could Bitcoin’s Next All-Time High Before a Year Away?<\/h2>\n