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Bitcoin is currently tracking well ahead of the 2017 bull market!

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@jrcornel
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If it seems like bitcoin is moving fast, that's because it is!

As it stands right now, bitcoin is already well ahead of the trend set back in 2016 and 2017 on its way to new all time highs around $20k.

In fact, as it stands right now, the current trend is well above the pattern we saw back then.

That being said, it's still well below the 1st post halving bull market which would call for bitcoin to hit prices somewhere north of $720k by mid next year.

Yea, we are not likely to follow that pattern.

However, we are already well above the last post halving rally and that rally would imply that bitcoin ultimately peaks around $200k by October of next year.

Check it out:

(Source: https://cointelegraph.com/news/bitcoin-is-already-outperforming-the-halving-that-sparked-20k-all-time-high)

As you can see, we are well above the 2nd post halving bull market.

In fact as it stands now, we are pretty close to the highest above that 2nd trendline we have ever been since the most recent halving happened.

By the way if you are curious where I was getting my price targets if we followed previous halvings that I mentioned above, they can be found here:

What does this mean?

Well, it may mean nothing, or it may mean something.

It may mean nothing because it could fall below that previous trendline at any point along the way and then these targets would all go out the window.

Just because it is above the past post halving bull market currently doesn't necessarily mean that it will stay that way.

On the slip side though, it also doesn't mean that it won't.

If you had to choose between being above the last post halving trend or below it, you would most certainly choose to be above it and the higher above it the better!

If we can continue to just hold that trend, we are looking at a price of roughly $200k by the end of next year.

If we continue to trend above it, like we are currently, well then that price target climbs higher.

My personal price target has been somewhere around $100k, but if this current trend holds up it's going to blow my target out of the water.

Which would actually make sense considering back in 2017 I was calling for a $10k top back when bitcoin was around $1k.

Well, as we saw back then, it went double what I thought it would go to.

Going off that same pattern this time around, $200k is starting to make more and more sense. :)

Stay informed my friends.

-Doc

Posted Using LeoFinance Beta