Bitcoin price patterns from previous Bull Runs suggest a top of $160,000 with a correction to $25,000
While the crypto market as such has gained considerably in value, a number of proponents of crypto currencies are wondering where the peak in the Bitcoin course will probably be in the next big bull run. For example, before and after the last three Bull Runs at Bitcoin, different price peaks and also significant middels Bitcoin Fast Profit declines above 80% were recorded. In addition, the voices are getting louder and louder, speaking of the fact that the next big bull run has already begun.
Up-to-date the entire market capitalization of the crypto currencies lies according to Coingecko with 538 billion dollar. This shows that not only the Bitcoin price is approaching the level of the end of 2017, but the entire crypto market is growing and thriving.
But while the market capitalization of around $300 billion is still a long way from its all-time high (ATH), Bitcoin is close to cracking its personal ATH. At the time of writing the Bitcoin course is with scarcely 19,300$ already in seizing proximity. There is hardly still someone at the market, which doubts of the fact that the price per BTC is traded already soon to levels never been there.
The only question that most people are currently asking is what the new ATH is and where it might be. If the Bitcoin price follows old patterns, it could be around $160,000 according to an influencer and analysts. Why that is in such a way, we look at ourselves now in detail.
Bitcoin course during its Bull Runs
In a recent interview, Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, spoke about maintaining the current level of Bitcoin. During the report McGlone said that there is a possibility within the next 1-2 years that BTC could add another zero at the end of its price tag.
A large number of Bitcoiners also believe that the Bitcoin price could reach $100,000 or more. Of course, especially in times like these, discussions about the possible price range are a daily occurrence on Twitter and Reddit forums. Of particular interest, however, was what the youtuber Colin Talks Crypto twittered about the patterns of the Bitcoin course during previous Bull Runs.