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Here’s How High Bitcoin Could Go If 2017 Repeats

Bitcoin is in a bull market and anyone who understands the cryptocurrency’s potential knows that much higher prices are ahead in the short- and long-term. But how high would prices actually reach if the cryptocurrency’s price action mimicked the epic 2017 rally, tick for tick?
An analyst at Ark Invest has come up with a hypothetical chart that demonstrates what could come if a similar trajectory is followed. And according to the chart, the Bitcoin price would top out at roughly $390,000 at the height of the current cycle.
Bull Trend Emerges, But Can It Match Record-Breaking 2017 Rally?
When Bitcoin begins to trend – regardless of direction – it trends hard. But while downtrends start sharply and end in a similar manner, bull markets often have sustained momentum that propels the asset to significantly higher prices each market cycle.
Where the cryptocurrency is in its current market cycle is up for debate, but thanks to the asset’s hard-coded block reward “halving” the cycle can be predicted with some accuracy.

Where Bitcoin is now could be somewhere before what the creator of the popular stock-to-flow model says is the “point of no return.” At this point in 2017, the top cryptocurrency jumped from around $1,000 to $20,000 and made it a household name.
This time, according to a chart shared by Ark Invest analyst Yassine Elmandrja, if the same path is followed, Bitcoin could hypothetically reach $390,000 per BTC before peaking.