The past few months have no doubt been very impressive for Bitcoin, but this is just the beginning. Bitcoin is probably going to 200,000 dollars a coin before mid-2022. If you think you have missed out on getting a piece of this crypto cake, you have not, at all. It would be best if you were getting ready because it would be an entertaining wild ride.
First and foremost, Bitcoin is back in price discovery mode, right around 61,000 thousand dollars or so. Historically, when Bitcoin breaks out, pass the previous high watermarks in a bull market, it tends to run hard and fast. I see no reason why this particular breakout will be an exception to this theory. There are several reasons why Bitcoin can hit 200,000 dollars or even more by mid-2022.
A little retest of the previous high will technically be bullish if we get that. The current price action for Bitcoin is exhilarating, but this is just the beginning for Bitcoin.
The chart above shows the Bitcoin halvings, which are the chart's blue lines, and the bull-bear cycles that followed the halving.
If you look at it properly, you will notice that Bitcoin goes through massive expansion periods following the Bitcoin halvings. This bull market phase lasted for 54 weeks back in 2013, 75 weeks in the 2017s bull run, and now we are 43 weeks after that Bitcoin having and into this bull run. There is the possibility that it will last longer as the market expands; more buying will come in, meaning that Bitcoin is going to pump longer and harder than it did back then in 2017.
Note that the 2013 cycle had a 10,000 percent gain for Bitcoin; the 2017 cycle had a 3,800 percent gain for having to peak.
Bitcoin at 200,000 is a four trillion market cap asset, 40% on the way to Gold's market cap. The market will pump harder and longer and probably decide to pump higher than we expect it to.
There are some fundamental reasons why we could see Bitcoin surging up to insane prices. The first is that big money is coming in. If you remember, thousands of big money institutions and corporations showed up for Michael Saylor's step-by-step Bitcoin buying tutorial for institutions.
Another fundamental is Coinbase, the Coinbase stock will start trading soon, which is 2021s mega stock IPO. It is a massive stamp of approval for Bitcoin. A lot of money will be flowing into Coinbase stocks.
