If History Is Any Indication, Bitcoin Will Surge Past $120k by January

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Can’t stop, won’t stop. That seems to be Bitcoins (CCC:BTC-USD) motto these days, as the Bitcoin price surges to fresh all-time highs.

Piles of gold Bitcoin tokens stacked together.

Source: kitti Suwanekkasit / Shutterstock.com

Just days after the cryptocurrency broke above $60,000 for the first time since April, Bitcoin cruised right through its previous all-time high (ATH) of $64,899 set in mid-April to a new ATH of $66,812.68.

As of this writing, Bitcoin’s price remains north of $66,000.

What comes after all-time highs?

More all-time highs.

Seriously. That’s a statistical truth in the stock market that has been proven time and time again. Historically speaking, after the S&P 500 makes a new all-time high, the average forward 12-month return in the index is 8.3%.

All-time highs beget more all-time highs.

That’s true in the stock market. But is it true in the crypto markets?

Well, as far as Bitcoin is concerned, it’s actually even truer. To be sure, there isn’t a ton of data here since Bitcoin is a relatively new asset class, but the data that we do have is very compelling.

Here’s the short of it: Whenever Bitcoin makes a new all-time high, it tends to be in the early stages of a big breakout, and goes on to (at least) double over the next 3 months.

The last time Bitcoin made a new all-time high? Back on Nov. 30, 2020, when Bitcoin broke its late 2017 peak and rose to $19,857. Over the next three months, Bitcoin prices skyrocketed above $50,000.

Before that, Bitcoin made a new all-time high on Feb. 23, 2017. On that day, Bitcoin rose to $1,168, surpassing its 2013 peak. By late May, Bitcoin was trading near $2,500.

Yes. That’s only two data points. But history tends to repeat itself, and if it does this time around, then that means Bitcoin could double over the next three months – implying a Bitcoin price of $120,000 by late January 2021.

Do we think that’s actually going to happen?

Let me put it this way. A Bitcoin price of $120,000 by January 2021 is not our base case. But the fundamental, technical, and optical trends supporting the entire cryptocurrency market are so robust right now that nothing would surprise us – and it is certainly within the wheelhouse of possibilities that Bitcoin doubles over the next three months.

However, would caution against getting too caught up in where Bitcoin goes over the next few months.

Because the reality is that Bitcoin is going a lot, lot higher than $120,000 over the next several years.

This latest surge in Bitcoin is not like previous “Bitcoin Booms.” It’s powered by durable fundamentals. It’s powered by the fact that cryptos are now, for the first time ever, being embraced by governments, retailers, corporations, investors, and even banks.

In other words, the powers-that-be are finally starting to see cryptos as the means toward a freer, fairer, and faster future – and they’re going “all-in” with that future.

The result? Cryptos are going, and will continue to go, mainstream. At this point, it seems like an inevitability. The future is one where decentralized finance (DeFi) solutions, decentralized applications (dApps), and crypto staking are ubiquities.

And, in that future, Bitcoin is treated as the true digital version of gold – a reality which, fundamentally speaking based on the value of the gold market, implies a long-term Bitcoin price target of $500,000.

So, will Bitcoin go to $120,000 over the next three months? Maybe. History says so – but that’s not what is important, because in the long run, Bitcoin is going to $500,000.

In other words, you haven’t missed out on the Crypto Revolution just yet. We’re still in the first few innings of this ball game.

That’s where we come in.

We’ve built a team of blockchain experts to analyze the crypto markets and pick the best crypto investments for long-term wealth creation. We have physicists. Computer scientists. Trading veterans. Stock gurus. Early Bitcoin investors.

It’s an amazing team.

And that team is putting all of our top crypto picks into an investment research product called Crypto Investor Network, which – as the name implies – is dedicated exclusively to investing in the crypto markets.

So far, we’ve netted a cool average return of nearly 200% per crypto. And we think the best is yet to come.

What do you say? I say there’s no time like the present to capitalize on potentially the biggest money-making opportunity in history.

And frankly, we haven’t even begun to scratch the tip of the iceberg when it comes to the potential of Bitcoin and cryptos.

But we do know one thing for sure: If you’re not on board, then this rocket ship will leave the launch pad without you.

On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/hypergrowthinvesting/2021/10/if-history-is-any-indication-bitcoin-will-surge-past-120k-by-january/.

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