• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Breaking News: Breaking: Binance Shocks Employees With Sudden Layoffs - What's Next For The Crypto Giant?
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: Binance Shocks Employees With Sudden Layoffs - What's Next For The Crypto Giant?
moonshot TSLA

Bitcoin Rallies Above $12000; ‘To The Moon’ By Christmas?

Emilio Janus by Emilio Janus
4 years ago
in Bitcoin Price, Bitcoin
0

Another day, another milestone passed. Bitcoin’s inexorable rise from December 2018’s bottom to break $12000 has been astonishing in its speed. So what could lie ahead?


Crypto-Spring Is Here, Courtesy of Bitcoin

Barely six months ago we were engulfed in our darkest hour. Crypto-winter seemed here for the long-haul, not helped by the onset of actual winter (in the northern hemisphere, at least). Bitcoin price was hovering in the low-$3,000s, with no indication of which direction it was heading. We’d already crashed nearly 85% from all-time highs, almost exactly one year before.

Little did we know then, but the bottom was in and we were on our way up. Six months later we have already regained over half of that 85%, but we started slowly. The slog from the bottom of $3.2k back up to $5k took 109 days. Although a full half of that was in the last three of those days, from April 1 to April 3.

Bitcoinist had two weeks prior to this called the end of crypto-winter, on the back of impressive gains in daily volume.

Up, Up, And Away

Five weeks later, in early May, Bitcoin price broke $6k, but by then the floodgates had opened. Another three days saw $7,000 fall, and two later we’d broken $8k. With the dark days decidedly behind us, it was time for a bit of consolidation.

Bitcoin continued to push upwards though, touching $9,000 by the end of May, although it was rejected at the first attempt. Price pulled back to as low as the mid $7,000s to regain some momentum. Next time we attempted $9k we’d be ready.

Sure enough, on 12 June, Bitcoin price started to charge. 4 days later it had broken $9,000 again, making us wait only another five days before it smashed through $10k. $11,000 came the very next day (22 June), although it took a further two before it stuck.

And now, two days further down the line, Bitcoin price has broken $12k (almost touching $13k at one point), with seemingly little resistance ahead.

Can We Predict The Future By Looking To The Past?

So where do we go from here? Many are looking to the bull run in December 2017, reminding us that back then the pump from $12,000 to $19,000 took only 11 days.

Reminder: Bitcoin previously went from $12k to $19k in 11 days.

— Cole Kennelly?? (@ColeGotTweets) June 26, 2019

But isn’t that missing the bigger picture? Not to say, pre-empting another crash back down from $19,000?

Life gets a little more interesting if we look to the previous ATH and crash from December 2013 through into January 2015.

From top to bottom on both occasions took around a year, and wiped about 85% off Bitcoin price. However, the rally has been a lot quicker this time. Following the 2015 bottom, it took around 18 months for Bitcoin to regain half of the 85% of value lost. Another 18 months after that, we hit a new ATH of about 17 times the value of that in December 2013.

This time around, it has taken just 191 days to recover 50% of 2018’s bear market. So rather than $12k to $19k in 11 days, perhaps we should be looking at 17 times the value of December 2017’s ATH in around another 191 days?

Which would put Bitcoin price at around $333,000 by 1 Jan 2020. So, maybe a bit late for Christmas then, but it would be churlish to grumble for the sake of a week.

What price will Bitcoin achieve by Christmas this year? Let us know in the comments below.


Images courtesy of Shutterstock, Cole Kenelly

 

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Emilio Janus

Emilio Janus

Related Posts

Bitcoin Whale Shark

Bitcoin Sharks & Whales Have Bought 93,000 BTC Since April Top: Santiment

2 days ago
Bitcoin

BREAKING: Bitcoin Mining Industry Spared From 30% Tax In US Debt Ceiling Deal

3 days ago
Bitcoin

Bitcoin Taker Buy Sell Ratio At Highest Since Feb, What Does It Mean?

3 days ago
Bitcoin

Bitcoin Shrimps Continue Aggressive Accumulation As Holdings Hit ATH

3 days ago
Bitcoin Bull

Bitcoin Bullish Signal: Exchange Netflow Registers Negative Spike

6 days ago
Bitcoin

Bitcoin “Buy The Dip” Mentality Disappears, Is Now Actually The Time To Buy?

6 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Now Trending

  • Whale Power Unleashed: Mooky Emerges as the Rival Meme Coin...

    8 hours ago
  • Exploring the Meteoric Rise of Mooky: Could It Be the Next...

    8 hours ago
  • Discover the Next Big Thing: Mooky.io Presale Boasting Fair...

    10 hours ago

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
K8
K8

Press Releases

  • ron ron token desantis

    The Ascending Trajectory of $RON: Setting the Pace for...

    5 hours ago
  • TMS Network (TMSN) Gives 3000% Profit To Investors While...

    5 hours ago
  • Why are Aptos (APT) and Cardano (ADA) investors shifting...

    5 hours ago
  • Can DeFi Utility Like Uniswap(UNI) Be Possible With...

    6 hours ago
  • Bitcoin Whales Are Diving Into DigiToads as Memecoin Season...

    6 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.