Swan posted this from low to high chart on Bitcoin cycles and fiat prices
The 80% less than 2021 rule would say 4.4x over bottom of $16.5k
In other words, if the trend continues then bitty tops out at 16.5 * 4.4 = 72.6k
I don't believe this, just sharing
That's not too far fetched.
Or are you saying that's too conservative an estimate? 😄
FTX, Celcius el al, sold a lot of paper Bitcoin to suppress the price last cycle.
I think looking at the halving price vs high is a better view. Again a low sample size but I think that would put it around $250k this bull market. But I think the ETF will push us more toward $500k. But I tend to be extremely bullish. This is just my opinion.
Yeah that still doesn't line up exactly with what I said but I do think it's possible we're at or near ATH at the halving, so a conservative (imo) 3-4x halving price puts us near $250k still
