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Bitcoin New All-Time High: If History Is Any Guide, This Happens Next
How much longer can the price of Bitcoin keep going up?
On May 22, Bitcoin (CRYPTO: BTC) hit a new all-time high of nearly $112,000. With a total market cap of $2.2 trillion, it now ranks as one of the five most valuable assets in the world, trailing only Apple (NASDAQ: AAPL), Nvidia (NASDAQ: NVDA), Microsoft (NASDAQ: MSFT), and gold.
Based on the above, it might seem like Bitcoin is a no-brainer investment right now. But is it? Let's take a closer look at the historical evidence for Bitcoin.
Given that Bitcoin started trading in January 2009, we now have 16 years of history to examine. And the overwhelming evidence is that Bitcoin tends to trade in fairly well-defined four-year cycles. The cycle begins with a steady accumulation phase, which leads to a growth phase, which leads to a bubble phase, which ultimately ends in a steep decline or even a crash. At which point, the whole cycle starts anew.
