Categories: Market

Crypto this week October 24th – October 30th (market, BTC …)

Market perspective

Hi everyone, one thing is over and it’s great that Bitcoin is making a new all-time high, but no surprise. We have been waiting for this since May.

Over the past few months, Bitcoin’s price movement and on-chain data have been the most closely aligned with what we’ve seen during previous pre-IPO consolidations. As a result, the market can be expected to follow a similar path – sideways or falling on average 5-7 months before returning to the recent high.

We are on schedule.

You know what happens next don’t you?

NO, and neither do I, but we need to know what to be prepared for.

Looking back, we’re going to see all-time highs in any asset – they’re inevitable in a general bull market. If the price rises above the previous high, a new “all-time high” arises.

There are many interesting things to investigate and compare Bitcoin’s all-time high to the massive rebound Bitcoin has made since the creation of the new ATH. Let’s take a look back at some of the major rebounds in the past.

Bitcoin hits $ 20, drops to $ 2
Bitcoin hits $ 1,150, falling to $ 178
Bitcoin hits $ 19,700, falling to $ 3,250

These are the three largest and most important corrections, with the exception of price movements below the $ 1 mark. In addition to these three, there were two other declines that lost 75% and 56% of Bitcoin’s value as soon as they occurred.

The 5 most famous reductions are 94%, 75%, 86%, 85% and 56%.

Either way, Bitcoin will rebound from the correction and rebound to new highs. How much has it increased after returning to the pre-crash price level?

That is 708%, 343%, 1,620%, 228% and ____%.

Let’s look at the numbers above. It means that after recovering from the price at which the crash started, it has continued to rise by these amazing percentages.

The percentage will be unknown after the bull run ends. We are only just beginning our journey to discover it. This will be a slow process (this time it will be even slower) – it used to take up to 4 years.

The average price increase after 4 big rallies is at 724%.

What if the price of Bitcoin only rose a quarter of the 724% average above? That would be a price increase of 181% from where it is now – about $ 119,000. If the price of Bitcoin increases by a quarter of the average, it will increase 362% from the current price. That brings us to $ 238,000 – a great point.

The future is hard to know so just relax and enjoy the ride.

Event next week

Notable events for everyone next week:

October 25th – October 27th: CoinAgenda Global is an event that connects investors, traders, family offices and digital currency funds with leading entrepreneurs in the blockchain and cryptocurrency sectors.
October 26th – October 28th: Blockchain Expo Tokyo [Autumn] is a newly launched trade fair for all types of blockchain technology, here you have a great opportunity to introduce your technology to the Japanese market.
October 27th – October 28th: Blockchain Life 2021 | Moscow is the most important event in the industry. Over the past 5 years, the forum has gathered more than 4000 attendees in the blockchain capitals of the planet (Singapore, Moscow) and asserted its status as one of the most important events in the world.
October 29th – October 30th: Kryptofest 2021 The event will be a gathering of more than 2,500 attendees, entrepreneurs, traders, investors, developers and industry enthusiasts, with a day of exciting keynotes, seminars, presentations, controversial topics, product displays, competitions and entertainment.