• 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
    • 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
  • Bet & win BTC
Breaking News: Crypto Exchange Binance To Launch Prepaid Card In This South American Country
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • 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
  • Bet & win BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Crypto Exchange Binance To Launch Prepaid Card In This South American Country
MATIC pumps 22% as Staking Goes Live
Advertisement

Bitcoin To Hit $33k By July, Because… History

Emilio Janus by Emilio Janus
3 years ago
in Bitcoin, Bitcoin Price, News, News teaser
0
Advertisement

As you are likely aware, some time in May this year, the Bitcoin network will experience its third halving event. The increased awareness of Bitcoin since the last halving event in 2016, has meant a flood of predictions this time around.


5,333% Bitcoin ROI Between Halvings

As pointed out in a tweet by CryptoBull, the return on investment (ROI) for Bitcoin between the first (11/2012) and second (9/2016) halvings was an impressive 5,333%.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.

Bitcoin ROI from 1st halving to 2nd halving: 5,333%.

We are currently up 1,338% since the 2nd halving.

5,333% from 2nd to 3rd halving gets us to $34,838.

Less than 4 months to go.

$33k by July secured.

— Crypto₿ull (@CryptoBull) January 15, 2020

 

We must ignore the period between the genesis block and the first halving, because with zero initial value, the ROI would technically be infinite.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Anyway, applying a 5,333% ROI between the second and the upcoming halving would give us a target bitcoin price of $34,838.

Has Bitcoin Left It Too Late?

According to CryptoBull, we are currently up 1,338% since the last halving. Although based on the price at that time of $650.63, that should give us a current price of around $9350.

Unfortunately we aren’t quite there yet, but based on a current bitcoin price of around $8670, we get a current ROI of 1,233%. So can we make it 5,333% before the halving? [actually my calculations give us 5,185% and a target price of $34.4k, but who’s counting?]

Is it possible to gain an extra 4,000-ish% ROI in the next four months?

Well, if we pretend for simplicity’s sake that our target is $34,680, this is exactly four times the current $8670 price, which represents a 300% increase.

We saw a 200% increase in 4 months just last year, fwhen bitcoin price went from $4k to $12k. So it certainly isn’t beyond the realms of possibility to hit $34,400 by the halving.

That Wasn’t Exactly The Prediction

But CryptoBull’s prediction wasn’t for $34.4k by the halving. It was for “$33k by July secured.”

And of course, there have been more explosive growth spurts in bitcoin price. For example, we saw a 400% increase in just 3 months in 2017. Between the end of September and the end of December, price went from $4k to $20k.

The difference being that this growth occurred in the rally following the 2016 halving. Generally the bigger rallies do tend to follow halvings, with smaller ‘accumulation’ rallies preceding them.

Whether we see a continuation of 2020’s gains so far in the run up to May’s halving event, and hit $34.4k before then is really not important.

It is traditionally the rally which occurs after the halving which causes the serious growth. Although some argue that this is already priced at this time.

$33k by July? I wouldn’t bet against it.

Where do you think Bitcoin’s price is heading over the next few months? Add your thoughts below!


Images via Shutterstock

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 Soars In Nigeria As Government Promotes Digital Cash

Bitcoin Soars In Nigeria As Government Promotes Digital Cash

9 hours ago
Bitcoin Crypto

Can The Federal Reserve Counterattack Stop The Crypto Bull Run?

15 hours ago
Bitcoin

Bitcoin Bearish Signal: Aged Supply Flows Into Binance

20 hours ago
Bitcoin this week

Bitcoin And Crypto This Week: Here’s What Will Be Important

24 hours ago
Bitcoin price

Bitcoin Price Nears $24,000 Mark – Can Bulls Push BTC To $25K This February?

1 day ago
50% of Bitcoin hashrate Controlled by Two Mining Pools

Data Shows 50% Of Bitcoin Hashrate Controlled By Two Mining Pools

2 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • California DMV Puts Car Titles On Tezos (XTZ) Blockchain...

    1 hour ago
  • Bitcoin Cash (BCH) Associates With TREZOR Wallet, Litecoin...

    1 hour ago
  • Avalanche (AVAX) price rally stalls, Polkadot (DOT) was #1...

    2 hours ago
  • Orbeon Protocol And VeChain Seek To Impact The Real World...

    2 hours ago
  • Meta Masters Guild Presale Raises Over $2m Ahead of Stage 5...

    5 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
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • 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
  • Bet & win BTC

© 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.