It's been interesting watching the Bitcoin price play off of the 
1T Market Cap, so I thought I'd take a look at how we handled $100M during the last cycle.
Turns out, in 2017 we bumped off $100M a few times, broke through and then violently retested it before making our FINAL ascent to ~$20k.
Today in 2021, are we experiencing the last re-tests of1T before making our final ascent? In 2017, this final stage lasted 35 days and ripped 230%. That would put us at $177,530 on May 24th.
Also interesting to note, the $100M zone was support for the last big (dead cat) bounce opportunity to dump above $10k and became major support for most of 2018.
Note: $100M and1T Market Cap were calculated based on quantity of coins on Oct 14th 2017 (16,620,000) and Feb 19th 2021 (18,630,000)
1T Market Cap, so I thought I'd take a look at how we handled $100M during the last cycle.Turns out, in 2017 we bumped off $100M a few times, broke through and then violently retested it before making our FINAL ascent to ~$20k.
Today in 2021, are we experiencing the last re-tests of
1T before making our final ascent? In 2017, this final stage lasted 35 days and ripped 230%. That would put us at $177,530 on May 24th.Also interesting to note, the $100M zone was support for the last big (dead cat) bounce opportunity to dump above $10k and became major support for most of 2018.
Note: $100M and
1T Market Cap were calculated based on quantity of coins on Oct 14th 2017 (16,620,000) and Feb 19th 2021 (18,630,000)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.