Exploring Bitcoin's Ascent: Can 2020 Be Only the Beginning?

The 2020 Bitcoin Boom: Breaking Records

In a year that has thrown so much at us, it’s almost shocking to find that Bitcoin (BTC) has emerged like a phoenix from the ashes, boasting its worth more than any other year in its digital life. Packed with excitement, historical data indicates that Bitcoin’s price might be on a continuous upward trajectory for the next 19 months. Who needs a crystal ball when you have historical data?

Volume-Weighted Average Price: 2020 Reigns Supreme

So, what’s the secret sauce? A tweet from fund partner James Todaro on February 21 shined a light on Bitcoin’s volume-weighted average price for 2020, citing it as BTC’s best year ever. The volume-weighted average price (VWAP) is a nifty measure that calculates Bitcoin’s price based on trading volume over time. And guess what? For 2020, the average is around $9,120. Take that, 2017!

How Does It Compare?

Now, let’s break this down:

In 2017, hitting the all-time high of $20,000, the average price was a mere $6,125.
2018, the bear market then, surprisingly took the average to $7,657—showing us that even in darkness, there can be glitter!
As for 2019? Not too shabby! However, its volume-weighted average couldn’t surpass 2018’s.

James Todaro cheekily pointed out, “Most of the money that moved into Bitcoin in previous years would have profited in USD if they held Bitcoin to the present date.” Who knew a bit of history could offer such economic flattery?

Future Forecast: Bullish Days Ahead

Now, don’t put your piggy bank away just yet; the future looks bright too! CryptoKea, a savvy investor and trader, has crunched the numbers on previous bull runs and forecasts about 570 more days of bullish behavior in the Bitcoin realm! Yet again, Bitcoin defies gravity. Last week’s market drop of 8% won’t put a damper on a year where BTC/USD has already surged nearly 35% since January. Who’s counting?

Historical Patterns Suggest Continued Growth

Interestingly, CryptoKea has observed that price tops and bottoms during the last couple of Bitcoin bull cycles fluctuated around halving dates in an almost regal dance. If this pattern continues, we could see a cycle peak around September 2021.

The $100K Prediction: Is It Possible?

And as if that wasn’t enough, hold onto your wallets because the increasingly talked-about stock-to-flow Bitcoin price model predicts an average price of a whopping $100,000 between 2021 and 2024. With all this hoopla, it surely sounds like the digital asset is just getting warmed up!

Conclusion: Keep Your Eye on the Prize

In light of the current positivity surrounding Bitcoin, it would be prudent to keep an eye on this ride. Who knows? You may just catch the wave of the next big bull run! Just remember to do your homework and approach with caution; after all, the market is as unpredictable as a cat on catnip!