To know what to expect going forward, we must first look backwards!
There is a chart I love to look at when deciding how best to play the moves in BTC.
The chart is this one right here:
These bull markets are chalk full of 100% gains followed by 30% dips followed by 100% gains followed by 30% dips etc.
Well, the recent dip took us to almost $42k, which was was not quite 30%, but these things aren't hard and fast rules anyways but instead more of a general guideline.
If we take 100% from those $42k lows, we can expect a price of at least $84k on this next surge.
For those of you expecting bitcoin to have trouble around $70k or $75k, history says that is probably not going to be the case.
In fact, it's possible/probable that bitcoin goes up even more than 100% from those lows.
In that case $100k is even on the table during this surge before the next 30% correction...
Stay informed my friends.
-Doc
@jrcornel you have said it all. If one need to hit BTC, You need to consider the wall of backward. Good of it you have on the chart
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It will be a great feeling to finally see bitcoin hitting 100k up there. And I believe it is definitely going to drag along some of the atlcoins up also majorly steem
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