Everybody is interested: when will Bitcoin plummet? No, not by 10-20%, which already occured several times this year, but rather by 70-80-or-maybe-even-90%, like in 2011 and 2013. Well, I came across a wonderful note at Investopedia titled "This Bitcoin 'Bull Market' Is Nothing" written yesterday, when btc price was around 13K:
"... Since its inception in 2009, the cryptocurrency has enjoyed a handful of major runups. We'll ignore the first, when it went from nothing to being worth a few pennies: Calculating that return requires dividing by zero. Compared to the other two, though, this bitcoin bull market is a tiddler.
From June 25, 2010 to June 7, 2011, bitcoin's closing price shot from $0.05 to $23.92, a 47,740% return. From Nov. 18, 2011 to Dec. 3, 2013, the price went from $2.05 to $1,068.67: a rise of 52,030%.
Compare those returns to the 6,262% bitcoin has returned since Jan. 17, 2015. Nothing to write home about, by bitcoin standards.
...
Past performance is no indication of future returns, but if it were, bitcoin would be flirting with $100,000 in a matter of months, then plummet to around $10,000 a few weeks after that..."
So, do u think it'll be able to reach 100,000$ during this "Bull market"? And will there be another one, powerful enough to propel the price up to 1M$ by the end of 2020? Coz, you know, we have John McAffe's... dick at stake:
https://twitter.com/officialmcafee/status/935900326007328768?s=17
- officialmcafee
Investopedia's article: https://www.investopedia.com/news/bitcoin-bull-market-nothing/
