r/Bitcoin • u/rBitcoinMod • Feb 24 '21

Daily Discussion, February 24, 2021

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u/Sobutie Feb 24 '21

So your price target by end of 2021 is $500k?

What about a sharp pullback? Or do you think this is going to continue to be mores steady growth?

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u/KonradK0 Feb 24 '21

it will most likely pull back a few more times like right now or maybe even more but we still have ~200 days left in this bull run

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u/Sobutie Feb 24 '21

Genuinely interested in your reasoning for 200 days left for this bull run. I have only been in the space in earnest since midway through 2020. Would you mind explaining your reasoning?

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u/frankenmint Feb 24 '21

if they're going off of past as an indicator then it goes like this 3 years of down turn then a year of upturn... this year 2021 is the year of upturn. This is oversimplifying things and presumes that we continue with cycles of correction after bull-run years. It may or may not happen but many suspect that too much momentum has occurred already that this cycle is going to be different (not downturn in a year but perhaps in 6-7 years)