Bitcoin hitting $1 million would not make list of top 3 historic bull runs
Historical data, as shared by Thomas Fahrer, co-founder of Apollo Sats, illustrates that a future rise of Bitcoin to $1 million would not rank within the digital assets top three bull runs.
Data by Fahrer shows that between July 2010 and Jan. 2011, Bitcoin’s price catapulted from $0.05 to $24, a 480-fold increase. Later, from October 2011 to November 2013, Bitcoin rose from $2 to $1,100, a 550-fold surge. Yet another bull run occurred from January 2015 to December 2017, with Bitcoin growing over 122 times, from $160 to $19,500. The most recent bull run from March 2020 to April 2021 witnessed a less dramatic, but still significant, 16-fold increase, with Bitcoin’s price ascending from $4,000 to $64,000, according to Fahrer.
A hypothetical surge from the bottom of the current cycle at roughly $15,500 in November 2022 to $1,000,000 would constitute a 65 times increase, outpacing the 2021 bull run but falling short of surpassing the top three in terms of returns.
This evaluation suggests that a BTC surge to $1 million, while substantial, would not be an outlier within Bitcoin’s historical performance context, emphasizing the digital assets past ability to yield remarkable returns.
Historical Bitcoin Bull Runs Date Low High Parabolic Rise Jul 2010 – Jan 2011 $0.05 $24 480 X Oct 2011 – Nov 2013 $2 $1,100 550 X Jan 2015 – Dec 2017 $160 $19,500 122 X Mar 2020 – Apr 2021 $4,000 $64,000 16 XThe post Bitcoin hitting $1 million would not make list of top 3 historic bull runs appeared first on CryptoSlate.