"Bitcoin has now gone 173 days without a new high. Longest streak ever was 1,176 days (from Dec 2013 to Feb 2017)." So I came across this fact on twitter, and checked obviously (always DYOR haha) so what do guys think this says about BTCs current position, or what it does for the much anticipated bull run.
Bitcoin fell from $7500 to $6700 today. If bitcoin goes to $21,000 (new high price) it will be in year 2030 only
Where's the correlation of that? Just because bitcoin fell by 10-15% in a day, doesn't mean that all of a sudden its long term growth is completely hindered. I simply don't see evidence of that whatsoever.
I'm not expecting an all time high this year at all, but I do expect to see a bull market to take BTC prices to a new all time high early next decade. That seems likely considering the amount of institutional investors starting to come into these markets at the moment.
I find it unlikely and odd that anyone would expect prices to be in a 12 year bear market, however. History has shown that these cycles usually take only 3 years or so before a new all time high takes over, and it makes sense, since adoption is continually increasing.