Does BTC still have 150% room to rise this year? Five important time points in the second half of the year

BTC is up 178% this year, what's next?

The panic of last week has been corrected, and Bitcoin is slowly approaching $11,000. The current situation of the entire market can be described by a picture:

So where will it go next? I don’t want to hear what I think, I want to hear what you think, please leave a comment below.

However, today I can also provide you with a historical reference:

In the last rising cycle of BTC, there were usually multiple callbacks of 30%+, and the average increase after each callback was 153%. That is to say, if you can buy accurately at the low point of each callback, you can get an average return of 150%.

The above chart was drawn in May. Over a month later, Bitcoin rose to $14,000. Today, it has been nearly two months since this high point. The current range of fluctuations is approximately a 30% correction.

Eh... Did I discover something incredible?

So, if we follow history, we are likely to experience another 150% increase this year? And if this can be achieved in the next few months, it means that the bear market is really moving away from us:

However, please note that the above is based on the historical rising cycle, and logically speaking, we cannot be 100% sure that we are in an rising cycle now . I chose this chart today to remind you that if you are a player who looks at the big trend, you should still be cautious about chasing ups and downs, or waiting for a certain point to "buy the bottom", because you may miss out on one or two times the profit by a dozen or twenty points!

Five important time points for Bitcoin in the second half of the year

Time flies so fast. I realized that we are almost two months away from 14,000 when writing this issue. What are the important nodes in the remaining four months of 2019? Here are some of them:

1. August 22: New York Attorney General’s injunction against Bitfinex expires

The ongoing legal battle between iFinex, the parent company of Bitfinex and Tether, and the New York Attorney General (NYAG) is about to reach a major milestone. In early July, the judge postponed the date to decide whether to dismiss the case or continue the trial process. After iFinex filed a motion to dismiss the case, the judge (Joel M. Cohen) said that he would extend the injunction until August 22.

Although the Bitfinex incident may not seem that important to the Bitcoin market, the court’s ruling has the potential to affect short-term market volatility.

If the judge decides to dismiss iFinex’s complaint, it will be in favor of the New York Attorney General (of course, this is not a final decision). If the judge decides to accept the complaint, both Bitfinex and Tether will be able to continue operating and recover some of the losses they suffered during the litigation.

2. September 23: Bakkt officially launched

We have talked about this before. Due to the confirmation of the final time of Bakkt, there has been some optimism in the market in the past two days, including many analysts predicting that Bakkt will bring physical settlement and will also allow more institutional funds to flow into the crypto market.

3. October 13: SEC makes final decision on Bitcoin ETF

The U.S. Securities and Exchange Commission (SEC) is expected to make a final decision on Bitwise’s exchange-traded fund (ETF) proposal on October 13.

Regarding ETFs, maybe no one cares about them anymore, but don’t underestimate ETFs. They once brought about a market rise in August 2018. In the past two years, the SEC has been reluctant to approve any ETFs due to issues such as market manipulation and market supervision. I hope this will be the last time.

4. October 18: SEC rules on whether to approve VanEck/SolidX ETF

Just five days after the commission issued its decision on Bitwise’s ETF, it is expected to rule on Cboe’s proposed ETF product.

If the SEC approves the proposal, it will allow the Chicago Board Options Exchange (Cboe) to issue a Bitcoin ETF Trust. Although it is not clear which proposal is most likely to be approved, both proposals will have an equally significant impact on the market.

5. October 28: Mentougou's final compensation plan submitted

The saga of Mt. Gox, the Japanese cryptocurrency exchange that lost more than 850,000 bitcoins in a 2011 hack, is coming to an end with a deadline to submit a compensation plan for affected creditors at the end of October.

The exchange’s trustee, Nobuaki Kobayashi, must submit a plan by Oct. 28 detailing the timing and method of repaying about 24,000 creditors who lost money in the 2011 hack and subsequent collapse of the exchange.

This could mean creditors could start receiving repayments before the end of the year, and while it's hard to say how long it will take to reimburse everyone affected, the bill itself is also likely to bring a lot of positivity to the market.

This part comes from:

https://cryptoslate.com/the-five-most-important-dates-for-bitcoin-until-2020/

Conclusion

Emmm, I have to say that the scripts in the next few months are very exciting, don’t miss them.

As for those who hold altcoins, today is August 20, 2019. Sorry, we haven’t seen the arrival of the altcoin season yet. The market capitalization of all altcoins is still declining:

But it doesn’t matter, Pepe will be with you. I am not the kind of person who is prejudiced against anyone who doesn’t rise. Many analyses believe that the outbreak of counterfeit stocks may occur in 2020-2021. In fact, it will only take a blink of an eye, right?

Kevin's market analysis will be suspended for one day

Warm reminder: The above content is for reference only, please do not use it as a basis for investment directly. The digital currency market is risky, so please participate with caution!

Author: Pepe Hot Wheels Blockchain