In view of Bitcoin’s current price action, it sounds like a distant vision of the future – according to a fractal from the bull market cycle from the beginning of 2017, Bitcoin could trade at $ 100,000 in a few weeks.
How are the two cycles similar – and what is the roadmap that will bring the price per BTC to $ 100,000 and higher over the next few months?
Characteristic BTC volatility is returning – price fluctuates around $ 10K and more in one day
Bitcoin volatility is picking up again – starting with an explosive move from $ 10,000 to $ 50,000 in a few short months.
With only 21 million coins and a market capitalization of less than $ 1 trillion is expected to Bitcoin (to buy Plus500 Bitcoin Instructions ) reliable long-term growth. And in an economic climate where growth is hard to come by, cryptocurrency has become particularly attractive.
But volatility is built into the pricing of Bitcoin System review, and it has been the case for the past few weeks when the cryptocurrency recently lost 20% in a single day. At $ 50,000 per coin, a 20 percent drop means $ 10,000 apiece will vanish into thin air – compared to the $ 1,000 per coin crashes during the last bull market.
2017 fractal suggests downward trend and rebound to $ 100k by May
On the way up last time, the price action closely resembled current market volatility. If you make a comparison between the beginning of 2017, when Bitcoin was traded in the four-digit range, and now, the similarities are strikingly clear.
If the same path is taken, Bitcoin could experience another slump before experiencing a sharp rebound to more than double the price. The price action will play out quickly, bringing the Bitcoin price to $ 75,000 first in April and then to $ 100,000 when May comes.
Also important to note: the path that follows the fractal continues from there. By the time the fractal runs out of space on the price chart above, the cryptocurrency tapers to just $ 2,000 per BTC.
The cryptocurrency has made another 10x from the end of the above price action – and if the fractal continues the same from current levels, it could potentially put every bitcoin at a price of $ 1 million per coin before this cycle hits its peak.
What do you think – can Bitcoin price really climb that high before the next peak hits?