BTC Price Bull Run May Last 1,000 Days, 2020 Is Best Average Year

Bitcoin is now worth more in 2020 than any other year it has existed. This fact coupled with historical data suggests that the price of the leading coin will continue climbing for another 19 months. The data uploaded to Twitter by the fund partner James Todaro on February 21 shows that this BTC price bull run may last 1,000 days and in terms of volume-weighted average price, 2020 is the best year ever.

Based on volume weighted average price, bitcoin price in 2020 is higher than in any other year in history, including 2017/2018. #Bitcoin pic.twitter.com/xRZdzeD4Z5

— James Todaro, MD (@JamesTodaroMD) February 21, 2020

The volume-weighted average is an indicator in the Bitcoin news which calculates the Bitcoin price over a certain period as a ratio on the basis of trading. For 2020, the average for BTC/USD is $9,120 as per Todaro’s calculations. This is way higher than even 2017 when the pair reached its current all time high of $20,000. For that year, the volume-weighted average was $6,125.

Curiously, this metric produces a higher value for 2018 despite this being the year when Bitcoin spent a lot of time in a near-constant bear market, bottoming out at $3,100. As we can see, 2018’s average was $7,657.

The BTC price bull run is expected by many who have been in trouble of making gains over the past years. 2019, for instance, was much more successful in terms of spot price but the Bitcoin volume-weighted average was a shade lower than in 2018.

“It strongly suggests that most of the money that moved into bitcoin in previous years would have profited in USD if they held bitcoin to present date,” Todaro commented when evaluating the findings.

Looking ahead, a BTC price bull run may also trigger the altcoin news and alternative currencies to rise. And data from previous bull runs paints an encouraging picture for the next year and a half.

When analyzing the Bitcoin bull cycles, the investor and trader known as CryptoKea claimed that their length suggests that BTC will keep growing for around 570 days. Despite the fact that the markets dropped 8% last week, 2020 has been a good year for Bitcoin in terms of strength. Year to date, the BTC price bull run gains have produced 35% profits for investors.

1/ During the last two #Bitcoin bull cycles, price bottoms and tops fluctuated around halving dates in an almost equal ratio. If this relationship were to hold true, we still have more than 570 days of bull market ahead of us, with a cycle top coming in around Sep 2021.

🚀🚀🚀 pic.twitter.com/NTqtGHx4H3

— CryptoKea (@CryptoKea) February 21, 2020

“During the last two #Bitcoin bull cycles, price bottoms and tops fluctuated around halving dates in an almost equal ratio,” CryptoKea explained. “If this relationship were to hold true, we still have more than 570 days of bull market ahead of us, with a cycle top coming in around Sep 2021.
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