30k bitcoin low of 2021- Low price history of BTC- was this the best buy point we see?
My food for thought is this- The low for 2021 could easily make sense to be in the 30k range for BTC.
There are tons of useful charts like stock to flow, Pi Cycle, The Puell Module, etc, but the best thing to look at IMO is the lowest price of bitcoin we have seen each year. There are variables that are unpredictable that can throw a wrench in things, but if you stick with it over time, you should get to where you need to go.
\*\*\*This isn't investment advice. I'm just a regular Joe who loves Crypto and data.\*\*\*
So lets dig in to a very simple analysis of the lows of Bitcoin per year.
2014: $200- These early years were pretty wild and as adoption is growing, some bigger swings occurred.
2020: $7100- Bitcoin was trending you could easily argue above this level until COVID-19 hit in March. True price fell just under $4000. I am using the value of $7100 for this hypothesis.
2021: So far $30,001.51 May 19th, 2021.
If you go with the trend and say 2017 to 2018 low was 4x, then it is somewhat reasonable to believe that $7,100 x 4.1 = around $29,000 for a low in 2021 and 2022.
\*\*\*The true price Bitcoin reached in 2020 was around the $3800 mark, so if you used this method and 4.1x you would get $15,580 for a low price expectation.\*\*\*
Hopefully, this gets you thinking and helps you set plans and goals along with many other resources. Do your own due diligence and if you plan to HODL, make sure you can ride out the ups and downs. Just like COVID-19 was unexpected, anything can happen, and what would you do?
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