Bitcoin Smashes Through $18,000. Where to From Here?

Bitcoin is on a tear, smashing through the $18,000 barrier.

Since crashing below $5,000 in March this year, the Bitcoin price has climbed steadily. That is, until thirty days ago, when steady morphed into parabolic, with Bitcoin rocketing from $11,300 to $18,000 and rising.

Such a BTC price has not been seen since the peak of the 2017 bull market on December 19 of that year. The difference this time is that the market is far more mature, with huge leaps forward in terms of community, business and technology that have been built in and around the Bitcoin ecosystem. 

To put this current price surge in perspective, let's take a look back in time...

In 2013, the year after the first Bitcoin block reward halving, the price rose from $13 to $1,000. This was followed by a bear market, where the price dropped to $200 during 2015.

In 2017, the year after the second Bitcoin block reward halving, the price rose from $1,000 to $20,000. This was followed by a bear market, where the price dropped to $3,200 late in 2018.

This year, the third Bitcoin block reward halving took place. As 2020 draws to a close, Bitcoin is knocking on the door of $20,000 once again. In 2021, do you think that the previous price pattern of 2013 and 2017 will repeat, but this time with a substantially higher starting point? I do. Bitcoin to the Moon!

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