Cryptocurrency28 minutes ago (Aug 30, 2020 09:20AM ET)
History shows Bitcoin price may take 3-12 months to finally break $20K
Bitcoin (BTC) has had four market cycles since its inception in 2009, from a bottom to a new peak. The cycles ranged from over 600 days to around 1,050 days. The most recent cycle has just surpassed 300 days, which suggests it could last 3-12 more months.
If Bitcoin’s price remains stable for several months to potentially a year, it could achieve two things. First, it could strengthen the fundamental ground of the next explosive rally as seen between 2016 and 2017. Second, it could cause other cryptocurrencies, or altcoins, to reach new heights, as some investors predict.
History shows Bitcoin price may take 3-12 months to finally break $20K
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