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Cryptocurrency Price Speculations / Re: What are the odds
« Last post by MrSpasybo on Today at 09:54:21 PM »History repeats itself till it does so no more!Current technical cycle-based analysts are quite confused because BTC has created a new history for itself: a new low below the previous cycle's peak, a new ATH before halving. Based on history and the belief that BTC price will repeat history, we have no basis for continuing to predict BTC price movements in this bullrun. The only thing I can think of is cyclicity: BTC has peaked in 2013 - 2017 - 2021, so I also expect the peak of this cycle to come in 2025.
Bitcoin has broken all patterns to date and it will continue to do so, people clung to things live never going below the previous ATH, like no double ATH during a cycle, no bull run before the halving, one has to understand that we had just three cycles, it's such a low pool of data that you can't draw patterns out of it!
Plus, there is the change in the economic environment, the ban in China, and the approval of Bitcoin ETF, how were those present in previous cycles, and furthermore, if there had been no halving, would that have meant no bull run? Of course not! Past experience means nothing, if suddenly the US would ban crypto due you think patterns will matter anymore? If China would say Bitoin is legal tomorrow won't we have a bull run prior to the expected date again?
But most important of all, if everyone thinks that it will take 4 months for the bull run won't everyone just buy now and dump then, artificially creating and ending the bull run just because they think it should happen when it's all a matter of their own actions?
Looking back in the past, facing BTC price volatility or rather the volatility of their account balances, investors are always confused because there are too many choices and we can always buy and sell easily 24/7. At the 2020-halving, we also had a new history when BTc price dropped sharply just before the halving, or many traders also doubted the ability of BTC price to continue to create new peaks as in the past. The boredom of cyclicity & the strangeness of new history, both make it difficult for investors to make decisions.
I think we don't need to focus on speculating future, we should continue to hold faith in the bullrun, while not forgetting to prepare for actions when the market has unusual fluctuations. I will still wait for BTC price to reach $150K-170K in 2025