Since the massive bitcoin and crypto surge in late 2017 and resultant crash in 2018 everyone has been waiting for a return to those giddy heights. In reality, it may just take a little longer as it did after the dotcom bubble burst.
Bitcoin’s Slow Build
Looking at previous years may give us an indication of what 2020 will hold for bitcoin prices. Granted, the scene is very different now with futures products available which allow deep-pocketed investors to short the asset.
Booms and busts from previous years could be used for future predictions if history is to rhyme for BTC. Full-time trader ‘Crypto Michaël’ has been comparing the years;
The year 2013 was similar to 2017.The year 2014 was similar to 2018.The year 2015 was similar to 2019 with the parabolic move.The years 2019-onwards will normally be similar to 2016-2017.
Let’s rock & roll together.
— Crypto Michaël (@CryptoMichNL) January 3, 2020
The year 2016 was very similar to 2019 with a slow start, then a mid-year high followed by a correction towards the…