Topic: WoW! 3/13/20 BTC Lowest Price: $4,916.78! Now! 3/13/21 $61,450.30! Ack! (Read 274 times)

Why so surprised?

Even when the price fell all the way down to $3850 at Bitstamp in March 2020, many of us were still projecting a new ATH (over $20k) near the end of the year, and reaching somewhere in the vicinity of $300k-$350k (or even higher) sometime in late 2021 or early 2022.

The March 2020 flash crash was a black swan event, caused by covid-19, that represented an unprecedented opportunity to buy at an unreasonably low price.

That was what was surprising.

What we see now is just Bitcoin being on schedule (as predicted).

This is a bit of out of ordinary situation. I have seen bitcoin increase a lot in a year, but this one takes the cake for sure, I do not remember that many times it has increased this much. At least not around these levels for sure, because going from 4 dollars to 61 dollars would have been acceptable move since it wouldn't require much, hell during those periods if someone bought 1 billion dollars worth of bitcoin they could have probably bought half of it (which would ruin it, so I am glad they didn't) and that's why I think it is quite a big achievement and I am not expecting similar stuff again. Can you imagine bitcoin at nearly 900k? That would be required to do the same.

Of course, it is still profitable to have bitcoin, even if we do not have this kind of huge returns, we could break over 100k easily if we keep this bull run going a few more months.

that means you still have to see a couple of similar cycles to finally stop hesitating to see that the intrinsic value of bitcoin is way higher than the prices that we see.
in 2016 people were also hesitant to predict $2000 when price was barely $500.
i'll see you in 2022 discussing whether price is going to $5 mil from the massive dump to $300k or not

If this was 2020, I would hesitate to predict more than $30k, though with things panning out the way they are right now, this is an easy $100k 1 year from now. Corrections will happen along the way, but institutions that are largely responsible for this current move in price are still interested than ever on bitcoins, and are still actively buying coins for their pockets with a lot of institutions predicting good fortune up ahead. The overall hype created by the huge companies who started the move from $10k to $20k made a huge impact on the price movement of bitcoin. I remember last year when bitcoin was sitting @ $5k and everyone was calling doom for bitcoin. I never though it'll actually cross $15k for a year given how things are going slow on the world's economy. But look at where we are right now

I think that according to the S2F model it will be fully met at least this year, the first quarter is over, now the second quarter is starting with force, depending on how everything goes, including the institutional investment that has caused a lot of controversy, the most skeptical now say that Bitcoin is an institutional currency, which only has speculative value in the market, apart from all those claims, this month may be of a new ATH, but I think that by the end of the year we will have the bullish trend completely, where all the old whales that manifested in 2017 will wake up. That's when you can hit a great price and watch out if we see more than $200k as many are waiting for it to hit $100k to sell.

Seems like that site is very different because I definitely remember price in March 2020 was at one point below 4000 even if only for one day it was plenty of time for a lot of people to get in at that time.

Maybe this is a price in Euros? But then it gets the correct price for USD ATH:)

The price was actually in the low to middle $3K's if you were trading with the futures. I remember I think I had a short open and closed it at $3500 or so. So the price defintaely went below $4K however it was for a short while and not on all exchanges, I think Coinbase never went lower than $4K.

I think eventually as it looked like Bitmex was about to implode, people stopped taking the arbritage trade on Bitmex and Coinbase in case they ended up going to 0 and liquidating pretty much every trader which was long. Hence why for a few hours there was a $500 spread between the futures exchanges and spot exchanges. Crazy days.

From what I can tell from the PlanB chart is that he expects the BTC price to level out at about $100,000.00 USD. Or I suppose he may have just 'run out of chart'.

Well, 100k sideways until the next halving. I suppose I can live with that...snicker....I crack myself up...

I still 'maybe' suspect a 15-20% dump on price on frigging 'everything' from property to the stock market and even crypto..even if temporary for BTC/crypto..I don't think

it has sunk in yet how much the Pandemic cost the world economically and with the debt (even if it did keep the gears going and the world out of depression worldwide)

Then you add to the fact in the USA we have let roads/bridges and infrastructure lapse during 'supposed' good times for crying out loud. (tax cuts...sheesh)

Well it like, the reality of dealing with both is going to stop this stock market rise IMHO. At worst, IMHO, BTC/Crypto and Gold would go 'sideways' in price

but I suspect BTC/Crypto to the moon under such a scenario and inflation issues to keep the world's ugly economic issues going.

But, being 24/7 buy-sell....we will take a hit...like everything else when this new world reality hits the forefront of everyone's mind.

sucks...

anyway, planning on a 15% or so dip in BTC/Crypto prices 'eventually' the catch is at what ATH price will that happen from?

The stock market on such, on my above guesses, I'd assume would not 'bounce back' quickly on such realizations, even more so if you add inflation.

Brad

^^ PlanB's modelling S2F also adjusted as the price is moving, and it's a long term modelling as far as I understand. I voted $150k, I'm still very bullish that we might get to this price at the end of the year. There could be more institutions and big companies that are willing to hedge their balance sheet as Feds will continue to print money. And of course, a lot of positive news, specially in the last quarter of the year.

I voted for 100K but checking this chart from Planb I think the price of bitcoin could be higher.

https://twitter.com/100trillionUSD/status/1377511680675041281?s=19

All adoptions make bitcoin stronger and what is inevitable is happening.

Sorry...I got into BTC in 2013 when BTC was $150.00 and remember mining LTC at less than $1.80.

The reason the POLL on this thread here does not go over $150,000.00  is 'frankly' I need to pace myself for $$$ above that amount

or my 'heart' will basically stop from the shock. Thanks for your consideration for us old HODL'ers..we can only go so fast before we freak out

and croak.

Brad

There should be "more than 150k" type of deal, because some of us think that we could actually go towards 500k levels as well. I know that it looks impossible for some people but gold market cap and bitcoin market cap being equal means that bitcoin should be around 500k and I think bitcoin has nothing that gold doesn't have, it should be at least 500k to cover that difference.

I do not think that we could end up a low number anytime soon, maybe in 2023 or so we could end up with a low number but until that moment, until that crash comes, I think 100k+ is quite possible and 500k is on the possibility chart as well. Do not be fearful if you see drops during that period, for example 150k could become 100k or even under, those type of falls happen all the time, that doesn't mean that we are in a situation where we will end up losing a lot of money, it just means that we are in a correction and will go back up.

I put $75k. Could've gone either way with that or $50k.

I expect a peak in late Summer/early Fall of $150k or so, give or take a few tens of thousands. Then I expect a relatively mild bear market, with institutions continuing to accumulate as the price drops back below $100k - millions of panicked weak hands selling into dozens or hundreds of institutions, until the weak hands run out of their small bags. I could see it bottoming between $50k and $75k about a year from now, before starting to grind back up later on next year.

Wouldn't surprise me at all if price in one year is right around what it is today, except that in a year this will be the bottom of the next phase of a multi-year supercycle.

It is amazing indeed--however, I think the reasons for bitcoin being as high as it is right now are scary.  I'm talking about extremely low interest rates and all this free money being provided to citizens in the form of "stimulus".  It's no wonder bitcoin's price is inflated, and it's no wonder stocks are as high as they are.  Gas prices, too, in case you all haven't noticed.

So while I'm standing on the sidelines cheering bitcoin on, I can't help but think there's going to come a day of reckoning for all of us.  Someone has to pay for all of this free-flowing money.  It might be us or it could be our grandchildren, but nothing is free.  I'm also hoping we don't start to see hyperinflation, because that would be disastrous.

On the other hand, all the institutional buying didn't hurt--but I believe that was made possible by the low interest rates I mentioned.  If you have access to cheap money, the sky's the limit.

ATH is expected in Q4
Q1 will be the first phase of the bear market going back down to $35k-$45k
So $75k would be about the right price.

After that the new ATH in 2024 will be >$1M

Possible, as bitcoin's narrative has change now, and so is the supposedly 4 year cycle?

We might see two big 3 year cycle before blowing the top. But in any case, yes, how time flies, last year was the lowest point for us, $3k-$4k and move forward 12 months, we are now in the $60k.

So the highest high or the top could be in the 6 digits, at least $100k-$150k on the first cycle. So just keep on HODLing.

One Year Ago Today. 3/13/2020 vs 3/13/2021!

Bitcoin Price was on 3/13/2020 $4,916.78 USD! The last ATL!

Again, source Link: https://encryptedreviews.com/news/bitcoin-price-history-2020/

As of NOW, the price is a new ATH (so far today) on 3/13/2021 is $$61,450.30 USD!

ATH Source: www.coinmarketcap.com

Sheesh! I have no words!

Bitcoin: Always Drama! (tm BTC)

--------------------------------------------------------------------------
Note: Below is how many BTC does it take to make $1,000,000.00
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Today's Date: 3/13/2021
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From the current price from Coinmarketcap.com

www.coinmarketcap.com

ATH Today as of this post! ATH! So 'far' today anyway!

Current Price: $61,450.30 USD.

Total BTC Needed: 16.27 BTC! For 1,000,000.00 USD!

Again, using this latest price! From www.coinmarketcap.com!

HODL!

Brad

There is no doubt that if they see a bright future, investing does not need to wait for prices to fall or those that have been determined, but long-term intentions that have been thought of beforehand.
I also set aside a little from my payday because it can help to enlarge assets in bitcoin we know this is the first real ATH but nothing but maybe it will be at stake at the end of the year, even though we have heard the word bubble but I think it is. it won't be long and we'll see how the value of bitcoin gets bigger later.

The Bitcoin prices have reached ATH in 2021 with trading at $55k on coinmarketcap(After huge investment in the market again).This price level has reached within few months of time span.Before pandemic Bitcoin market was bullish from 2017-2020 beginning and trading between $10K to $4-$5k price range after market crash of 2017 when prices recahed $20k.This pandemic increased the interest of crypto enthusiast and huge investment were made into the market.Bitcoin prices have grown 300% alone this year which is huge surge.The market cap has reached $1 trillion market cap for first time in 12 years.This dips will be part of Bitcoin volatility but you need to HODL until they recah new milestone of $100k this year.

Whenever I see such kind of statistics about bitcoin my heartfelt sad about it because I didn't pay enough attention to the price reach that low. Just like everyone else, I wish I invested some of my salaries starting that day and I would have gained a lot of money when the price was exploding this high today. Right now, people are making things hard for them every time they see the price decreasing a little bit. they thought if they wait a little longer, they might crash and that would be the best time to invest in BTC. Just before they put their money to buy BTC, the price is increasing again and this time the price has already exceeded their imagination. I wonder if they still doubt investing today or not, do they wait for another ATH or what?

Such a big jump for Bitcoin, and I am sure those who are able to hold to the Bitcoin they got in the past years are now smiling and can be celebrating as BTC is about to break the record of more ATHs. There is now no question that when it comes to cryptocurrency Bitcoin is the king and though it is not actually the best coin people are still loving it as it represents the whole industry and is now considered to be the best alternative to gold and has one of the best ROI performance in the market today.

It is very hard to answer your poll's question

I believe that we will see the bubble near the end of 2021 but it could take a couple of months longer and last until February 2022 to get there too.
I also believe that the history of cycles will repeat (maybe even bigger but even with the same size) price reaches $500k. So by March 2022 the bubble may be just starting to burst and price could be $400k and the bubble burst is not going to end that soon, it would take at least 6 months to reach the bottom so by 3/13/22 price could be in $400k still.

Every cloud has a silver lining.

That was actually the tipping point that gave Bitcoin a boost. With the coronavirus crisis, central banks accelerated the massive printing of money (you have to think that 20% of the total dollars printed to date were printed last year) and that's what led many companies to buy bitcoin. When cash was devalued at 3% per year, one could have considerable cash reserves in his company because in exchange for a small devaluation, one had security but with the massive printing having cash means losing 15% annually. That was when MicroStrategy and others considered buying Bitcoin and opened a path that it seems that little by little many companies are going to follow.

3/13/2020 BTC Lowest Was Price of 2020 was $4,916.78!

This is according to the below chart, by month, 2020.

MONTH             HIGH                                        LOW
Jan 2020          $9,501.38 (January 31, 2020)     $6,965.72 (January 3, 2019)
Feb 2020          $10,630.37(February 15, 2020)   $8,793.50(February 27, 2020)
March 2020    $9,160.39 (March 7, 2020)    $4,916.78 (March 13, 2020)
April 2020    $8,784.96 (April 30, 2020)    $6,423.61 (April 1, 2020)
May 2020          $9,999.93 (May 8, 2020)$          $8,568.88 (May 12, 2020)
June 2020    $10,211.23 (June 2, 2020)    $9,007.14 (June 28, 2020)
July 2020          $11,113.66 (July 31, 2020)         $9081.44 (July 6, 2020)
August 2020    $12,301.19 (August 8, 2020)    $11,063.50 (August 3, 2020)
Sept 2020    $11,926.69 (Sept 2, 2020)    $10,174.62 (September 4, 2020)
October 2020    $13,646.02 (October 28, 2020)    $10,552.04 (October 4, 2020)
Nov 2020          $19,157.16 (November 25)         $13,571.24 (November 3, 2020)
Dec 2020          $28,891.61 (December 31)         $18,250.47 (December 12,2020)

From this link: https://encryptedreviews.com/news/bitcoin-price-history-2020/

So anyway, at a low, low price, remember this is the day when the Covid-19 Reality 'really' hit the world with BTC/Crypto and Stock Market...

but still, really, someone bought in at $4,916.78 Bitcoin?

The High Price for BTC today on 3/9/21 was according to www.coinmarketcap.com was $55,627.74, heck that is not even the ATH according to

 the Coinmarketcap site! The ATH according to them was $56,584.23 on 2/20/2021, which was the ATH for 2021! (so far)

Well, on Saturday 3/13/2021 it will be ONE YEAR since that 'rock bottom price',  anyway, this is why I HODL!

Wow, just Wow what a year!

Brad