10-15-2021, 01:37 AM
Bitcoin still on track to hit $180,000 before the end of this year
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/q820ly/bitcoin_still_on_track_to_hit_180000_before_the/"> <img src="https://external-preview.redd.it/SewGpYdYjd6-lqf-MFD30wS-07DnvHk7GLgVFN9tTT4.jpg?width=640&crop=smart&auto=webp&s=0234068ed1312f1cf8c0fee09279b3a4ac34e4e3" alt="Bitcoin still on track to hit $180,000 before the end of this year" title="Bitcoin still on track to hit $180,000 before the end of this year" /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>I'm sure lots of people here are familiar with the <a href="https://www.blockchaincenter.net/bitcoin-rainbow-chart/">Bitcoin Rainbow Chart</a> (a logarithmic chart of the price of Bitcoin), but just in case, I'm here to give y'all a big heaping helping of hopium today.</p> <p>Here's a shot of the Rainbow Chart as it is today:</p> <p>​</p> <p><a href="https://preview.redd.it/8lwlwr1wmft71.png?width=1824&format=png&auto=webp&s=4a8b09c4f77483397fa460bbe5546113a48aab68">Bitcoin Rainbow Chart. A logarithmic scale of the price of Bitcoin, showing the halving events.</a></p> <p>In 2017, the price of Bitcoin peaked at the end of the year (mid-December) around $19k. This was following a massive, lightning-fast bullrun that is now the stuff of legend around here. The FOMO of that year has made many of us crypto enthusiasts who we are, quite honestly.</p> <p>Here is that peak highlighted on the Rainbow chart:</p> <p>​</p> <p><a href="https://preview.redd.it/uhjavwn2nft71.png?width=1826&format=png&auto=webp&s=7c7aa1e9e61e1ae8ef45ccc61e72231a9c81069a">Bitcoin's peak in December 2017. Not quite halfway between halvings.</a></p> <p>​</p> <p>But let's back up a little. Where was Bitcoin in, say, mid-October of 2017?</p> <p>​</p> <p><a href="https://preview.redd.it/ek1mkudbnft71.png?width=1823&format=png&auto=webp&s=f129b3f918c9843c52efd174e30b8669055e9cf4">The price of Bitcoin on October 12, 2017 was $5,600.</a></p> <p>​</p> <p>This means that from mid-October to mid-December of 2017, Bitcoin skyrocketed from $5,600 to over $19,000. That's a growth of 343% in 2 months. That's a fucking rocket if I've ever seen one.</p> <p>Now, let's extrapolate.</p> <p>Ignoring for a moment the sheer amount of money that would be required to be injected into Bitcoin in order to move the price this much, let's just speculate for a second.</p> <p>If Bitcoin followed the same trajectory from now until mid-December that it did during the same period in 2017, it will be...</p> <p>​</p> <p><a href="https://preview.redd.it/w3g91dcznft71.png?width=1823&format=png&auto=webp&s=fe536faf49a4156c0532d91adfbaa22a6a746e2c">One hundred and eighty one god damn thousand dollars.</a></p> <p>That's right. Let that sink in.</p> <p>You don't even need the comforting colors of the rainbow to tell you this. Bitcoin's price today ($57,600) plus a growth of 343%, is even higher than that estimate, at <strong>$197,500.</strong></p> <p>The reason this has become eerily predictable is because of the halvings. If you don't know what a Bitcoin halving event is, <a href="https://coinmarketcap.com/halving/bitcoin/">you can read more about it here</a>.</p> <p>Now, of course, this means a tripled marketcap as well. Can the marketcap for Bitcoin really reach $3 trillion? Depends on who you ask. Myself and many others believe that is likely still small peanuts when we're talking about a global digital currency being adopted in increasing measure around the world. We're still pretty early.</p> <p>Enjoy the hopium, and may blessings be upon us all in Q4 2021. ?</p> <p>Edit: for one more dose of hopium, check out the <a href="https://stats.buybitcoinworldwide.com/stock-to-flow/">Stock-to-Flow model.</a></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/darwinlovestrees"> /u/darwinlovestrees </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/q820ly/bitcoin_still_on_track_to_hit_180000_before_the/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/q820ly/bitcoin_still_on_track_to_hit_180000_before_the/">[comments]</a></span> </td></tr></table>Kind Regards R
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/q820ly/bitcoin_still_on_track_to_hit_180000_before_the/"> <img src="https://external-preview.redd.it/SewGpYdYjd6-lqf-MFD30wS-07DnvHk7GLgVFN9tTT4.jpg?width=640&crop=smart&auto=webp&s=0234068ed1312f1cf8c0fee09279b3a4ac34e4e3" alt="Bitcoin still on track to hit $180,000 before the end of this year" title="Bitcoin still on track to hit $180,000 before the end of this year" /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>I'm sure lots of people here are familiar with the <a href="https://www.blockchaincenter.net/bitcoin-rainbow-chart/">Bitcoin Rainbow Chart</a> (a logarithmic chart of the price of Bitcoin), but just in case, I'm here to give y'all a big heaping helping of hopium today.</p> <p>Here's a shot of the Rainbow Chart as it is today:</p> <p>​</p> <p><a href="https://preview.redd.it/8lwlwr1wmft71.png?width=1824&format=png&auto=webp&s=4a8b09c4f77483397fa460bbe5546113a48aab68">Bitcoin Rainbow Chart. A logarithmic scale of the price of Bitcoin, showing the halving events.</a></p> <p>In 2017, the price of Bitcoin peaked at the end of the year (mid-December) around $19k. This was following a massive, lightning-fast bullrun that is now the stuff of legend around here. The FOMO of that year has made many of us crypto enthusiasts who we are, quite honestly.</p> <p>Here is that peak highlighted on the Rainbow chart:</p> <p>​</p> <p><a href="https://preview.redd.it/uhjavwn2nft71.png?width=1826&format=png&auto=webp&s=7c7aa1e9e61e1ae8ef45ccc61e72231a9c81069a">Bitcoin's peak in December 2017. Not quite halfway between halvings.</a></p> <p>​</p> <p>But let's back up a little. Where was Bitcoin in, say, mid-October of 2017?</p> <p>​</p> <p><a href="https://preview.redd.it/ek1mkudbnft71.png?width=1823&format=png&auto=webp&s=f129b3f918c9843c52efd174e30b8669055e9cf4">The price of Bitcoin on October 12, 2017 was $5,600.</a></p> <p>​</p> <p>This means that from mid-October to mid-December of 2017, Bitcoin skyrocketed from $5,600 to over $19,000. That's a growth of 343% in 2 months. That's a fucking rocket if I've ever seen one.</p> <p>Now, let's extrapolate.</p> <p>Ignoring for a moment the sheer amount of money that would be required to be injected into Bitcoin in order to move the price this much, let's just speculate for a second.</p> <p>If Bitcoin followed the same trajectory from now until mid-December that it did during the same period in 2017, it will be...</p> <p>​</p> <p><a href="https://preview.redd.it/w3g91dcznft71.png?width=1823&format=png&auto=webp&s=fe536faf49a4156c0532d91adfbaa22a6a746e2c">One hundred and eighty one god damn thousand dollars.</a></p> <p>That's right. Let that sink in.</p> <p>You don't even need the comforting colors of the rainbow to tell you this. Bitcoin's price today ($57,600) plus a growth of 343%, is even higher than that estimate, at <strong>$197,500.</strong></p> <p>The reason this has become eerily predictable is because of the halvings. If you don't know what a Bitcoin halving event is, <a href="https://coinmarketcap.com/halving/bitcoin/">you can read more about it here</a>.</p> <p>Now, of course, this means a tripled marketcap as well. Can the marketcap for Bitcoin really reach $3 trillion? Depends on who you ask. Myself and many others believe that is likely still small peanuts when we're talking about a global digital currency being adopted in increasing measure around the world. We're still pretty early.</p> <p>Enjoy the hopium, and may blessings be upon us all in Q4 2021. ?</p> <p>Edit: for one more dose of hopium, check out the <a href="https://stats.buybitcoinworldwide.com/stock-to-flow/">Stock-to-Flow model.</a></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/darwinlovestrees"> /u/darwinlovestrees </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/q820ly/bitcoin_still_on_track_to_hit_180000_before_the/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/q820ly/bitcoin_still_on_track_to_hit_180000_before_the/">[comments]</a></span> </td></tr></table>Kind Regards R