Bitcoin (BTC) Could Peak At $80,000 If Crypto’s Cyclicality Persists

As Bitcoin has returned over the past few days, many have been left asking where the cryptocurrency market could top. It may be a bit too early to tell, but some are that optimistic. Level’s Josh Rager notes that over Bitcoin’s three completed cycles, the trough to peak gains decreased by around 80% each time, which is a concept defined by the law of diminishing returns. As Rager notes, 2011’s rally saw a return of 320,000%; 2014, 58,500%; and 2017, 12,000%. Thus, if history is followed to a tee, BTC will rally by 2,400% off its bottom, giving it a potential high of just shy of $80,000, $78,500.

Bitcoin Rate of Return Each Market Cycle(Each cycle had a 20% return of the previous cycle)2011: Return of 318,864% = $31.90 High2014: Return of 58,474% = $1,177.19 High2017: Return of 11,960% = $19,764.51 High2022: Potential Return of 2,392% = $78,500.00 Potential High pic.twitter.com/7KP439cpZE

Original source
https://ethereumworldnews.com/bitcoin-btc-peak-80000-cryptos-cyclicality-persists/

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