Using the monthly BLX chart of all Bitcoin data I was able to create this chart. I found that Bitcoin forms a triangle after each halving. Using the halving date vertical, and the previous all time high horizontal, the point at which it intersects the curved average line forms a triangle. If the past height and length of the triangles formed are a result of past prices then why can’t we guestimate the future price using the same geometry? We know the approximate date of the next halving so this forms the vertical of the next triangle. We also know the curving average should run about the same in the future as it has in the past. That makes two sides of the next triangle. Now if we assume that the length of the next triangle is 3 months longer than the previous we can now draw the height to get the price.
What did I find by doing this?
During this Bull run Bitcoin could very well peak at around $229 THOUSAND DOLLARS!
I know that may sound crazy but it’s just geometry. If I am off by a few months on the length of the next triangle it could push the price higher or lower. But I see no reason that it should not follow the previous trends. We’re only talking plus or minus about 3 months.
Either way I still think we are talking a price range of $200K and possible higher. That’s double that anticipated $100K target everyone is looking for.
Anyway, I found this to be very interesting and thought I would share it with my fellow Bitcoinistas!
Still long and holding strong for all I’m worth. :0)
Good luck out there if you are a trader. I’m just a hodler and will remain so until I see at least 6 figures.