Data shows that Bitcoin (BTC) needs to hit $ 340,000 to match its performance from the last halving.
In a series of posts on Twitter on August 20, famous statistical source ChartsBTC noted that Bitcoin is still likely to grow from its current level of $ 11,700.
The halving multiples show the price of BTC as high as $ 1.6 million
Comparing the lows, highs, and the halving from the previous two halving cycles, ChartsBTC sets the difference between the highs of 36x for the 2012 cycle and 17x for the 2016 cycle.
To repeat the success of the more modest cycle, the BTC / USD pair will be forced to trade at $ 340,000. The 36x higher than the previous cycle - Bitcoin's all-time record of $ 20,000 - goes up to $ 720,000.
"Multiples from previous cycles that apply to the current cycle hit peaks between $ 250k and $ 1.6 million over the next 18 months," says the ChartsBTC's summary.
Bitcoin investors are still open to the good news under current conditions, rising 30% monthly
The outlook looks positive although a modest pullback has sent the stocks hovering at the $ 12,000 support level once again.
The author of "The Memory Pool" has come up with a bearish prediction. After the 2016 cycle that Bitcoin is currently leading, a new all-time high will emerge before the end of 2020.
"If we follow the 2016/17 trajectory (we are ahead of our current plan), the peak of the cycle will appear on October 19, 2021 and the peak will be around ... $ 325,000," Boyapati concluded. Comment.
Quantum analyst PlanB has argued that Bitcoin is fully capable of rising to an average of $ 288,000 and a peak of $ 576,000 or more between now and 2024.
"So what do we have to do to have a large amount of bitcoin in the future, how are we going to act? This question is for you"
