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All-Time High’s Are Here Again!

Earlier today I was contacted by a friend, who bought Bitcoin some time ago. Pleased with the latest price rises, they wanted my advice on how to send their Bitcoin back to Coinbase, to sell some so they could buy it back when the price goes lower. 

While I am happy to help and advise my friend, I felt obliged to warn them that this was a classic mistake. Because of the nature of Bitcoin and the way it has been programmed, the price trajectory appears to follow a particular pattern.

I cover this in my book.  

Chapter five on Acquisition explains how and why this ‘pattern’ occurs and the dynamics behind it.

In the image below you can see what happened the last time Bitcoin’s all-time high was reached in January 2017. Indicated by the blue line.

All Time High 2017

You can see that the price was quite ‘choppy’ here at the end of the cycle. However, the breach of the previous high saw a breakout of the price to new all-time high’s. This is known as a ‘bull-run’ in trading circles.

You can see how this ‘bull-run’ played out following a rise in the price, above the blue line in 2017, in the chart below.
2017 Bull Run

In 2017 Bitcoin’s ‘bull-run’ of the price, took it all the way from $1155 to a staggering $19,666! 

Eventually, the price pulled back, but as you can see from the chart below, even at it’s lowest, the price never again went below the previous all-time high. (Indicated by the same blue line) 
4yr cycle

So can you see why I advised my friend that this would be a bad time to sell? If you don’t own Bitcoin already, now and the next couple of weeks could be an excellent time to buy!

If you would like to know how to buy and store Bitcoin safely, I now have some links on my website for the easiest places to go if you are completely new and need a quick place to start.

Until next time enthusiasts!


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