where are you getting your multiplier # from? Also why is it us bitcoiners always need to make price predictions?
Discussion
The last all time high of $66,953 was reached on 11/10/2021, the current BTC price is $27,811 502 days after the ATH
502 days after the 2017 BTC all time high of $19,644 reached on 12/11/2017 the date was 04/27/2019 and the BTC price was $5,229
It took 928 days to reach the next ATH of $66,953 on 10/11/2021. The ATH price was 12.80 higher than $5,229
Should history repeat, the next ATH may also be reached in 928 days time on 10/22/2025 and the BTC price will be the current price of (27,811 x 12.80) = $355,983 #[2]
My guess why a lot of bitcoiners think about the fiat exchange rate: If you’re hodling through a cycle with a meaningful amount of your family’s saved productivity tied to bitcoin’s success then you have to see a future where the bitcoin price is considerably higher than it is today. Looking at patterns in the past cycles helps to convince yourself that (1) the price does go up programmatically, (2) that “gradually then suddenly” means time in the market >> timing the market, and (3) it is exciting to envision that future when times are volatile or boring.
You are unquestionably correct. Sometimes it just damages people’s perception when price targets don’t land. This still means cheap sats for us just means people who don’t understand will stay poor. I guess that’s how it’ll be though.