Like clockwork, every four years the Bitcoin bull market cycle has arrived.
According to Rekt Capital, if we assume the rate of diminishing Post-Halving returns remain constant, Bitcoin could rally exponentially to a relatively conservative new all-time-high of $90,000 in 2021.
However, this conservative extrapolation of current Post-Halving bull trends doesn’t account for upside wicks past key resistances. This means Bitcoin could overextend past $90,000 and even beyond the psychological level of $100,000 before finally rejecting.
In comparison to the previous cycle, Bitcoin appears to be “right on track” and “the similarities between cycles are striking,” according to US-based crypto research firm Delphi Digital.
”Bitcoin could rally exponentially to a relatively conservative new all-time-high of $90,000 in 2021.Rekt Capital
In 2017, Bitcoin initially sold off, recovered, retested, broke to a new high, and then corrected another 25% before continuing its uptrend. Therefore, investors need to be patient and enter the market accordingly.
How high will the price of Bitcoin’s go? Well, when you factor the 4 year cycle pattern, increased exposure of institutional investors, record BTC options and open interest the sky is the limit.
According to the researchers, a “move above USD 20k on strong volume” could “really seal the deal. The Bitcoin bull market has only just begun and what we see now is profit-taking, considering that “almost every BTC holder is in profit.”