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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Only 33 Days And Dwindling Remain Where Bitcoin Wasn’t Profitable

Tony "The Bull" Severino
Tony "The Bull" Severino
1 year ago
3 mins read
bitcoin profitable

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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This week, Bitcoin nearly touched $16,000, leaving very few days remaining where buying BTC would have been unprofitable. In fact, the number has now dwindled down to just around a month left, and in no time at all, there could be no days left where buying the cryptocurrency was a bad decision.

Bitcoin Has Been Profitable Over 99% Of History, Only 33 Days Remain Unprofitable

Bitcoin price has now set a higher high over the 2019 peak, and the only remaining high to take out that’s left is the all-time high at $20,000. With the momentum the cryptocurrency currently has, the target could be taken out any day now.

The number of days left where buying BTC turned out to be unprofitable, is dwindling by the day now that the top cryptocurrency touched just under $16,000 this week.

There are only 33 total days in which you could have bought bitcoin and lost money.

Buying on 99.1% of days has resulted in profit.

This is why we #HODL

— 21MillionCo (@21MillionCo) November 6, 2020

Now, according to data, only 33 days remain where buying BTC was a mistake and turned out to lead to a loss. At over 99% of any other time within Bitcoin’s twelve-year lifetime, buying BTC would have brought at least some positive ROI.

Related Reading | PayPal CEO: Bitcoin Support Will “Fundamentally Bolster” Crypto “Utility”

This timeframe extends from the end of December, through the first week of January.

bitcoin btcusd btc

Only 33 days remain where Bitcoin price traded higher than it is currently | Source: BTCUSD on TradingView.com

What Happens When The Crypto Bull Market Begins?

Buying BTC at any point in 2020 before yesterday would be been profitable. Bitcoin has also doubled in value since the start of 2020 with more than 100% ROI.

Meanwhile, gold, stocks, and other primary investment assets have performed nowhere near as well. Other cryptocurrencies did even better than Bitcoin, but have learned the hard way recently that none of that matters once the leading cryptocurrency gets started in its bull run.

bitcoin cycle

Bitcoin is following the same path as the last market cycle and could reach $300K at the peak | Source: BTCUSD on TradingView.com

The 100% ROI in 2020, is only the beginning if past market cycles are anything to go by. Projecting the last peak over the current market cycle, Bitcoin is following almost the same exact path and would be projected to reach as high as $325,000.

Related Reading | When Crypto’s Most Reliable Sell Signal Fails, The Bitcoin Bull Run Is On

And while past results aren’t a guarantee of future performance, and never is, Bitcoin’s block reward halving could make it pre-programmed to go parabolic every four years to the date. Supply-based theories put the cryptocurrency well over $100,000 in 2021 based on the asset’s scarce supply, and given the momentum, we’ll soon find out if these valuations models are right.

Featured image from Deposit Photos, Charts from TradingView.com
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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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