If history is about to repeat for the third time, we could be in for a colossal crypto finish for the final weeks of 2021.

In both 2013 and 2017, Bitcoin recovered from a midyear correction to explode in November and December in epic “blow-off tops.”

Here’s what happened four years ago. Bitcoin soared from US$8,000 in mid-November to just under $20,000, before crashing below to $7,000 by February.

Bitcoin trading in 2017. Bitcoin bulls believe we’re at the point in the cycle represented by the arrow. (Stockhead/Tradingview)

Only OG Bitcoiners remember the 2013 bull run, but this year has actually resembled it a bit more. BTC surged from around US$30 to over $260 from mid-March to mid-April, and then quickly corrected down to $60.

It traded in a range for months, until finally reclaiming that all-time high in November. From there BTC went parabolic, more than quadrupling in a month to peak at US$1,200 in early December, and then again entering a bear market through August 2015.

Bitcoin trading in 2013 and early 2014. (Stockhead/Tradingview)

Here’s what happened in the past 12 months.

Bitcoin trading in late 2020 and so far in 2021. (Stockhead/Tradingview)

Bitcoin analyst TechDev has used Fibonacci expansion levels and retracement levels to compare Bitcoin’s price action to the last two cycles. If BTC undergoes a similar 2.272 expansion those years, that means it’d peak above US$200,000.

Bitcoin
Twitter/TechDev

Plan B’s prediction

Plan B, a pseudonymous former institutional financial investor from the Netherlands, overnight re-upped his forecast for over US$100,000 BTC before the end of 2021.

As Stockhead reported last week, Plan B narrowly missed his forecast for October but his predictions for August and September were spot on. That rest of that prediction, made in June, is for BTC to finish November above $98,000 and December above $135,000.

Meanwhile, Bitcoin ultra-bull Max Keiser says that $220,000 BTC is still in play – by the end of the year.


Of course, it’s worth noting that markets – especially crypto markets – rarely play out the way everyone is expecting. If getting rich were easy…

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