#Bitcoin Drops 2.55% in 24 Hours โ Whatโs Driving the Pullback?
#bitcoin fell to ~$107K, down 2.55% over the past day, as a mix of macroeconomic and technical factors weighed on sentiment.
๐ธ500 days since #Bitcoin hit the bear-market bottom.
In 2020 Bitcoin went up 732% over the next 12 months from the same point.
If Bitcoin repeats this it will hit $491K by April 2025.
๐ธBitcoin Price Action ๐
- Looks exactly like 2020 when $BTC broke a new all-time high.
- In 2020 Bitcoin went up 250% in 4 months after breaking a new all-time high.
- That would take Bitcoin to 231,000 if it repeated this cycle.
Google searches for BITCOIN are repeating the exact same pattern as the start of the 2021 parabolic run.
Surge and pull back in the first 2 weeks of December.
$100K is the new $20K
Next move is gonna be... ๐ฑ
Dave Portnoy 2020: "I currently own zero bitcoins. I will wait and watch."
Price: $11,800
Dave Portnoy 2024: I wouldnโt buy Bitcoin at these levels. Iโm donโt think I can stomach getting back in until itโs in the 40โs again"
Price: $64,233