Comparing Bitcoin Price 2017/2018 and 2020/2021

The flowchart of bitcoin price movement look resembles between 2017 and 2021. The different is that the daily trading volume and marketcap. In 2021, the daily trading volume increase sharply because bitcoin is more popular among big investors.
It is important to know the trend and orientation of bitcoin price movement before you invest or buy bitcoin. This analysis is based my observation so you can agree or disagree. Bitcoin in the early development is worth less than $1. The popularity of bitcoin was still low at that time. Circulating bitcoin was only in small community. Bitcoin became viral when a member of bitcointalk bought pizza with about 10,000 BTC. Since then many people accept bitcoin as the payment. In the growth of bitcoin, there are more merchants that accept bitcoin as payment. Then, bitcoin price rose slowly.

Mar 2010 $0.003 On 17 Mar 2010, the now-defunct BitcoinMarket.com exchange is the first one that starts operating. 8 July 2011 $31.00 top of first "bubble", followed by the first price drop
https://en.bitcoinwiki.org/wiki/Bitcoin_history#Bitcoin_price_chart_since_2009_to_2017_and_2018

Bitcoin is considered as the bubble. Economists and bankers underestimated bitcoin and gave bad comments. However, the community of bitcoin were decentralized. They got no influence by bad comments. Satoshi Nakamoto vision woreds perfectly that decentralized financial was the future financial system.

From the chart you can see there are some line that I make. From bottom line , Lowest price after peak, and Peak.

• Bottom line

In the chart , the price starts from 2014. The price was about $100 - $150. The was the lowest price of bitcoin from 2014 until December 2018 when the price reached $10,000. The starting bitcoin to rise sharply was in the mid of 2017. The price jumped to $2000 to $2500.

• Yellow Peak

This is the first bubble of bitcoin in history that the bitcoin price was about $20 K. Many bankers and regulators felt annoyed by the increase in the price of bitcoin. The market cap in December 2017 was about $290-$300 Billion. The daily trading volume was about $20 Million. In December, cryptocurrency market attract more attention from big investors. They tried to speculate to buy bitcoin.

• Green Lowest Price After Peak

Bitcoin as bubble became FUD for investors.

“The price of Bitcoin is totally manipulated by a bunch of people, by a bunch of whales. It doesn’t have any fundamental value,” he said. “We’re close to the point where the hyperbolic bubble is going to go bust.” Roubini

https://finance.yahoo.com/news/nouriel-roubini-says-bitcoin-bubble-will-go-bust-144807645.html?

Bitcoin dropped to $6,000 in the early 2018. In this line, bitcoin dropped to the lowest price after peak around $4,000 However, the lowest price did not touch the bottom line of the lowest price in 2014. The marketcap increased. It mean that more people traded and kept bitcoin.

• Purple Peak

In the second boom or bitcoin price, the price reached $12,000 to $15,000 in the mid 2019. Here bitcoin was much more stable in price. The stability of bitcoin price run until the end of 2020.

• Blue Lowest Price After Peak

In the blue line, the lowest price was $5,000 in the first quarter of 2020. The price move up slowly to $6,000 and $7,000. The lowest price in blue line did not touch the lowest price in green lowest price after peak.

• Black Peak

This is the biggest bubble ever in bitcoin price history. The price reached $40,000 in January 2021. Black Peak line may will stand for the range of $30,000 to $40,000. Learning from the Purple Peak, the price dropped from $20 K to $5,000 in February 2018. Now it is January 2021. Will the price of bitcoin will fall in February 2021? In my prediction bitcoin still stand on the range $30 K in February. There are many reasons why. Some big public companies buy bitcoin in bulk and accept crypto payment. This trend influence the market. Current marketcap almost $700 Billion. Though, bitcoin will drop to the lowest price, the lowest price will not touch the blue lowest price. The lowest price after peak in 2021 in my prediction will range from $18,000 to $20,000.

Will bitcoin reach higher price than $40,000 in the coming weeks? Many people say that bitcoin will be higher than $100,000. Bitcoin will be $100,000 but not this month.

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