570 days of growth ahead? Bitcoin outperforms all previous years

Bitcoin has a higher average value (derived from volume weighther average price in 2020) than any other year of its existence, and historical data suggests that its price will continue to rise for the next 19 months .

The average price of bitcoin according to this methodology is USD 9,120 (as of February 21, 2020) in the current year), so far surpassing 2017 ($ 6,125), when Bitcoin reached its ATH of $ 20,000, and also 2018 ($ 7,657), which at the beginning of its movement was higher price than it is currently. It was pointed out by James Todaro, co-founder of MedX Protocol and BlocktownCap Lead Partner.

Based on volume weighted average price, bitcoin price in 2020 is higher than in any other year in history, including 2017/2018. #Bitcoin pic.twitter.com/xRZdzeD4Z5

— James Todaro (@JamesTodaroMD) February 21, 2020

“These figures strongly suggest that most of the money that has moved to bitcoin in previous periods would make a profit in dollar terms if it had been held in bitcoin to date,” he said.

570 days of growth ahead?

As for the future, data from previous bitcoin bullruns illustrate an interesting assumption for next year and a half. Cryptoanalyst CryptoKea said that Bitcoin could rise in price for approximately another 570 days. It is not surprising that it derives this from the halving fundament on which most long-term analyzes are based.

“During the last two Bitcoin bullruns, lower price limits and peaks moved around halving-related data in almost the same proportion. If this relationship holds true in the future, we still have more than 570 days of bull market. The peak could be somewhere around September 2021,” says CryptoKea on Twitter.

source:cointelegraph