It's been interesting watching the Bitcoin price play off of the $1T Market Cap, so I thought I'd take a look at how we handled $100M during the last cycle.
Turns out, in 2017 we bumped off $100M a few times, broke through and then violently retested it before making our FINAL ascent to ~$20k.
Today in 2021, are we experiencing the last re-tests of $1T before making our final ascent? In 2017, this final stage lasted 35 days and ripped 230%. That would put us at $177,530 on May 24th.
Also interesting to note, the $100M zone was support for the last big (dead cat) bounce opportunity to dump above $10k and became major support for most of 2018.
Note: $100M and $1T Market Cap were calculated based on quantity of coins on Oct 14th 2017 (16,620,000) and Feb 19th 2021 (18,630,000)
Turns out, in 2017 we bumped off $100M a few times, broke through and then violently retested it before making our FINAL ascent to ~$20k.
Today in 2021, are we experiencing the last re-tests of $1T before making our final ascent? In 2017, this final stage lasted 35 days and ripped 230%. That would put us at $177,530 on May 24th.
Also interesting to note, the $100M zone was support for the last big (dead cat) bounce opportunity to dump above $10k and became major support for most of 2018.
Note: $100M and $1T Market Cap were calculated based on quantity of coins on Oct 14th 2017 (16,620,000) and Feb 19th 2021 (18,630,000)