Not only that, but it took how long for bitcoin to reach another all time high at that time from the $1000+ peak? A few years. The peak was at December 2013, and the new all time high took place at
May 2017 (look at chart below). It took more than 3 years for bitcoin to reach another all time high. Holding bitcoin is probably not for you if patience is an issue. Bitcoin is a huge ass waiting game.
May 2017 (look at chart below). It took more than 3 years for bitcoin to reach another all time high. Holding bitcoin is probably not for you if patience is an issue. Bitcoin is a huge ass waiting game.
A graph showing December 2013 to May 2017 BTC prices:
*with a crappy yellow line drawing attempting to show the part where bitcoin had the next ATH*
source: https://coinmarketcap.com/currencies/bitcoin/
*with a crappy yellow line drawing attempting to show the part where bitcoin had the next ATH*
source: https://coinmarketcap.com/currencies/bitcoin/
For sure. I think that it is clear now that essentially, bitcoin prices generally move in cycles which recur every 4 years due to the halving as a point of bullishness.
Even though there are obviously factors such as bans and restrictions which influence the price, the macro trend seems to be the same over the years that bitcoin has been traded with this exact observation. It makes sense to think that 2020-2021 would probably see sparks of new bullishness, when you combine the fact that the historically bullish halving is happening and all the institutional investments and investors that have been accumulated over the bear market.
Whether the all time high will be broken or not at this stage is completely unknown, but prices I believe right now are pretty much doing exactly what was happening in 2014 and bottoming out. There may be some more way to go downwards but it should be close to the floor from this point on. It's definitely worth buying BTC at under $6k for sure.