I’m sure this is a question that is on many non-crypto folks’ mind right now.
Am I too late now? It’s already so high… surely it cannot go much higher than that…
And many people would think so, after Bitcoin hitting $60 000 already, but I am going to tell you why you’re not too late and I have some statistics and market analysis to share with you here, to justify my point, so let’s dive into it.
Ever since I started this blog and my video podcast 5 years ago, I’ve shared with you many of my Bitcoin and crypto -related opinions and dare I say – I’ve been always right.. about bitcoin for sure.
Back in 2016 I called it better than Gold, a sentiment that at the time was shared with just a few, but lately it became clear that both retail and institutional investors agree with me and we saw even banks opening their books to Bitcoin, after seeing a massive exodus from gold in favour of bitcoin…
Indeed, Bitcoin’s epic rise from zero to being worth thousands today was a relatively speedy affair.
In the past decade, Bitcoin has surpassed not only Gold but every other investment instrument in terms of percentage returns, so it really became the new Gold rush for many of us.
At the end of last year I published this article and a video with the boldest Bitcoin Price predictions by prominent investors, analysts and public figures, and I’ll have it linked in the description below for your reference. From what we saw, the more-conservative views were citing figures between $50-$100k.
The boldest ones were going beyond $300 000 per a single Bitcoin.
Is it just a hype?
I don’t think so.
Right now we’re seeing Bitcoin’s breaking the $60 000 price level marking the first time it has surpassed this psychological resistance level in history and we closed the historically red month of March in the green. If you remember, I talked about March being historically a bad month for Bitcoin, with 8 out of 10 years printing negative returns throughout March. Well, this is now the 3rd year in its history, that we saw a positive return in March and the second quarter of the year is historically a great time for the cryptocurrency, raising prospects that it would keep going higher into the new quarter. I am now convinced that we are going for that bold prediction of $100 000 in the coming months.
Can we go higher?
Indeed, wrapping up the year at $100,000 is decent for many traders and investors. That would be a more than 300% increase from the beginning of the year or about 90% increase from today’s value. It’s a rewarding return on investment by any standard. But the Bitcoin halving Epoch scale is suggesting that more than triple of that price growth could be attained in the near term.
According to data from Coinmetrics, modified by ChartsBTC, a Twitter account managed by a Bitcoiner —who keeps track of market patterns from every four-year Bitcoin halving cycle, Bitcoin is on its way to $300,000 this year.
Each epoch scale is 20x the prior one…
The Bitcoin Epoch in this case is a market cycle—which in the case with Bitcoin is a four years period that comes with specific mining rewards—started in 2009. This is in simple terms – the amounts of Bitcoin units that are being produced. At the beginning, each block mined, was producing 50 new coins, which was approximately every 10 minutes. This has been going on for 12 years now. Every 4 years, the production is halved, meaning that we have now had 3 of these halvings, so we end up with just 6.25 new coins produced every 10 minutes (approximately). Each four-year period as displayed on the chart saw Bitcoin’s price surge dramatically.
From the genesis to 1st halving cycle—2009 to 2012—Bitcoin went from $0 and closed slightly above $25. The second and third cycles which stretch from 1st to 2nd and 2nd to 3rd halvings sent Bitcoin up by 20x (twenty times increase). Now we’re in the next cycle that goes from the 3rd to 4th halving, and Bitcoin could follow the same pattern and surge 20x in the near term, with a potential to surge even higher in the years ahead, should history repeat itself, Bitcoin could hit $300,000 this year.
This also fits with the predictions of other analysts and prominent figures in crypto such as the Winklevoss Twins, Bobby Lee, Tom Fitzpatrick (a City Bank Analyst), Adam Back – CEO of Blockctream (the core developers team for Bitcoin), Scott Minerd from Guggenheim Partners and Max Keiser – financial analyst and TV show host of the Keiser Report and Tim Draper amongst others.
So, back to the question: Is it late to get into Bitcoin in 2021?
Well, it is clear now – You Are NOT late.
And although, you may not make thousands of percent return at this point, you can still make hundreds… a few hundred percent in fact.
Compared to any other investment right now, I just don’t see what else can beat this. So, as always, use this article as a reference point and build on it with some more research, make an informed decision and be aware that at some point during this market cycle, we will top out and we will go down after that, so there will be a period when Bitcoin will be producing negative returns and make the most of this.
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