After the bitcoin price touched a high of $ 64,895 per unit, speculators and skeptics think it could top the bull market and bear market as of 2018 is next. On Sunday, May 23, bitcoin prices fell to a low of $ 31,107 and the bears managed to hold sway for some time. However, not everyone is convinced that the current crypto bull run is similar to 2017, as many crypto proponents believe that the 2013 bull run aligns more with current trends.
‘Two major peaks 8 months apart’
B T c Have seen good days and a month ago, the price reached $ 64k per coin But four days ago B T c Prices fell to a 2021 minimum price point of $ 30,066 per unit. This is a massive loss of 53.66% in a month, but bitcoin prices have managed to raise a hair compared to the bottom. However, on Sunday, Bitcoin (B T c) Prices reached a low of $ 31,107 and prices once again reached the lowest level. Ever since this market massacre took place, the surrender has once again come into force B T c Hate and pessimists who have said: “Bitcoin is dead. “
Peter Schiff said, “The pumpers who assured investors that bitcoin will never crash again now claim the crash is healthy and necessary to cleanse the market of additional speculation.” wrote on Sunday. “They say China is banning bitcoin because other governments enforce strict rules, it is fast. Denial is not just a river in Egypt,” he said.
Some skeptics and pessimists have said, B T c Touched a peak at $ 64k per coin, and now the market is entering another ‘crypto winter’. Many speculators have said that the bull run of 2021 is similar to the bull run in 2017 and the consolidation of the recession of 2018 is now on the cards. Despite these principles, there are those who believe B T cThe current round of the game is reminiscent of the 2013 bull run. On Sunday, Youtuber and the crypto mover “Colin talks crypto“Tweeted that he believes current trends may be similar to the 2013 bitcoin surge.
“If bitcoin’s double peak behavior of 2013 repeats, we may be ready for the final price peak of December 2021 or January 2022,” Colin Tweeted. “In 2013, we experienced a bitcoin double top, with two major peaks 8 months apart. Note that this is a much shorter period of time than 4 years of stopping cycles (which is the major catalyst for the bitcoin bull run ), “They said. Colin too wrote The record price of bitcoin in April 2013, topped $ 255, and in December 2013 that reached an all-time high (ATH) of $ 1,150 per unit.
‘This run looks more like 2013 than 2017’
Same as 2013, some this year Rumors from china Talking about alleged crypto trade restrictions and curbing crypto mining. Pantera Capital co-CIO Joey Krugo Tweeted On May 21, China said more about the situation: For those new to crypto, we are now the mid-market cycle. We are in the part where China imposes a ‘ban’ on bitcoin 3 times. Happens in every cycle (2013, 2017, 2021). Munich Ali, the founder of the stack ecosystem was also Tweeted:
2013 made the call and wants its China mining ban stories back.
100k till august
– Crypto White Walker (@cryptowhitewalk) 9 May, 2021
In addition to China FUD, many bitcoin proponents agree with Colin Talk crypto’s assessment, and believe that it is a middle part of the same 2013 bull run. Bitcoin.com News wrote about Plan B when they discussed the similarities. said: “Nothing goes up in a straight line. As of this month, bitcoin has gone up 6 months in a row. It looks like the mid-way dip that we saw in 2013 and 2017 as well. “
I’m saying that this run sounds like 2013 rather than 2017, but who knows, I’m just here to share the meme chart.
As Schiff said, it is true that most B T c Supporters are still very optimistic about future prices, even if the price has been halved. Most avid bitcoin supporters on Reddit forums and Twitter still believe that the current decline is only a mid-way cycle. The CEO of Civic, Winnie Lingam, otherwise known as ‘Oracle’, said on Sunday B T c Looks like a good trade.
“Longer-on-sharper ratio B T c Looks like 2.5+ right now, ”Lingam tweeted on Sunday. “The downside is the backstop at the previous ATH of $ 20k, the upside can resume $ 63k. It looks like a good bitcoin trade, assuming the ESG narrative doesn’t shake the market anymore,” said Lingam.
What do you think of people’s perception that this run is similar to the bull run of 2013? Tell us what you think about this topic in the comments section below.
Image credit: Shutterstock, Pixabay, Vicky Commons, Colin Talk crypto tweet / chart,
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