Since the huge growth of Bitcoin (BTC) and the other coins and the resultant crash in 2018, everyone is waiting for the return of the golden times. The thing is that in reality, it could need more time, just like it did after the dotcom bubble burst. Some of the analysts wonder will the crypto markets will repeat 2017 this year and we are here to find out in our Bitcoin latest news.
Throwing a look at the past years could give us certain hints of what 2020 will hold for bitcoin prices. Although the conditions are very different at this time with the future products that will allow wealthy investors to short the asset. Booms and busts from last the former years can be used to analyze in order to make predictions for the future, see if history will repeat for Bitcoin (BTC). The full-time trader ‘Crypto Michaël’ has made a comparative analysis of the years.
The year 2016 was very similar to 2019 having a slow start then a mid-year growth followed by a recovery at the end. The hopes are that 2017, which experienced the huge Bitcoin (BTC) growth of about 1,500% will happen again in 2020. It is almost impossible that the growth of that proportion will happen again but the trend may be the same thus resulting in the highest worth ever before the end of the year. The well-known crypto enthusiast ‘Tommy Mustache’ made the comment that time was needed in order to experience slow recovery after the dotcom bubble burst.
“It does not take a genius or a good investor to agree with the above historical timeline. Just like after the 2001 dotcom bubble burst, it took around 3 years for the market to recover and begin to slowly trend back up.”
The past year experienced a gain of 50% in market capitalization from $125 billion to $190 billion so replication of the previous year in this year will result in a market cap of $400 billion. This is near the halfway to the trillion-dollar level and it is probable that growth in the future will be slow and steady. The time of wild FOMO driven pumps and dumps are over because crypto markets will follow the path of the internet and its growth over the past few decades.
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