306: BITCOIN WILL HIT $340K IF REPEATS 2016 HALVING CYCLE PATTERN!! YEARN FINANCE (YFI) FLIPS BTC PRICE!!

Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News

English - August 20, 2020 15:04 - 22 minutes - 10.4 MB - ★★★★ - 537 ratings
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Next Episode: 307: $50K BITCOIN PRICE IS ‘REASONABLE’ IF BTC HITS NEW HIGHS, SAYS TONE VAYS!! PEAK PROJECTED AT $325K!!

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Bitcoin price needs to hit $340,000 just to match its performance from its last BTC halving cycle, data shows.

In a Twitter series on Aug. 20, popular statistics resource ChartsBTC noted that the BTC price still has huge room for growth at current levels of $11,700.

Comparing lows, highs and halving prices from its two previous Bitcoin halving cycles, ChartsBTC put the difference between peaks at 36x for the 2012 cycle and 17x for the 2016 cycle.

In order to repeat even the more modest cycle’s success, BTC/USD would have to trade at $340,000. 36x from last cycle’s high — Bitcoin’s all-time record of $20,000 — comes to $720,000.