You Won’t Believe These Charts: What’s Next For Bitcoin

By Clem Chambers

One thing is for sure, Bitcoin doesn’t know you own it. Meanwhile, the cycle of bubble/bust grief is well underway. There is still some denial out there that crypto has seen its top; plenty of anger at its fall and who should carry the can, and soon we will be heading towards the depression and bargaining stages of the Kübler-Ross process. When we reach acceptance, it will be time to start acquiring again, but that is months away.

When you go back to the beginnings of Bitcoin booms and busts it is striking how similar they all are. For anyone who hasn’t seen them together in a format that shows the scale at the time they occurred, here they are consecutively shown. Anybody who doesn’t have a view of what happens next for Bitcoin, and by extension many other cryptos, can see how things have panned out in the past and draw their own conclusions.

Bitcoin 2011

Bitcoin 2013

Bitcoin 2017

Bitcoin 2021

Consequently, I feel I don’t really need to provide much narrative. As a writer, it is strange to simply present some images and leave the viewer to make up their own mind.

You would need to be a staunch ‘past performance is no guide to future returns’ adherent to not see the obvious. Yet meanwhile, millions of words are being written about the near certainty of a short-term re-animation of crypto and how this is just a blip in the glorious short-term ride of prices forever north.

These images, however, are a silent witness to the ‘volatility’ of Bitcoin and its proclivities.

If there ever was an invitation to trade what you see, not what you think, here it is.

It will take an incredible turn-up to buck this history and this trend, and there is nothing like seeing the repeating Bitcoin boom, bubble, bust cycle to get a feel for what is in play.

At best, this history provides a strong roadmap for the route ahead and thereby a strong signal if events break that path that perhaps bulls might be on the right side of tomorrow’s events. However, I entirely doubt a sudden divergence will occur, but if it does, it might be strikingly obvious that history is not repeating itself and that in itself is a very valuable indicator.

Right now, though, if there is a Bitcoin cycle – and I believe there clearly is – we are on the way to below $20,000 and when we get there it will be time to start planning a re-entry.

Via. Seeking alpha

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