The Elections Effect Is Over: Back To Basics, Bitcoin 2024
2024-11-09

In 2017, Bitcoin peaked at $20,000. In 2021, Bitcoin peaked at $69,000. That's a 245% difference.

In 2017 the ATH happened late in the year, December. In 2021 it happened in November, also late.

In 2024 Bitcoin peaked first at $73,000. Currently, Bitcoin is peaking at $77,000. From $69,000 to $77,000, that's a 11.5% difference. Are you following me?

After the 2017 ATH, the bear-market bottom was hit in December 2018, late in the year. After the November 2021 All-Time High, the bear-market bottom was hit in November 2022, late in the year.

The next All-Time High will happen in 2025, four years away from 2021. From $69,000 to $180,000, that's a 161% difference, or, from $69,000 to $220,000, that's 219%. This is more in tune with Bitcoin and a new All-Time High.

Tops and bottoms, every single time, late in the year.

After 8 months, March through November 2024, Bitcoin trades almost at the same price, only 4% higher. Tops and bottoms, late in the year.

Ok. The market is strong. Let's say Bitcoin hits bottom around 40K, 35/36K on a wick, and then we see sustained long-term growth. 

Everybody is happy because Trump won. Trump is in favor of Crypto and we are Crypto, we love Crypto and we love Bitcoin and so we love Trump. It would be awesome to have a market where we are not harassed by the SEC, this is sure to turn into a positive. But the elections excitement is coming to an end, it seems it lasted only 4 days.

Tell me in the comments, what is your take?

A move that is news generated, cannot last a long-term. Long-term moves are based on fundamental developments and the market cycle. News generated moves tend to be short lived.

After 8 months, we still have a double-top, the exact same as 2021. So, what do you say, is Bitcoin going to move straight up, or is a correction coming next?

Thank you for reading.

Namaste.