{"id":31280,"date":"2020-11-04T21:13:57","date_gmt":"2020-11-04T19:13:57","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=31280"},"modified":"2025-08-28T02:53:09","modified_gmt":"2025-08-27T23:53:09","slug":"opinion-past-patterns-point-to-a-parabolic-bitcoin-rally-in-2021","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/opinion-past-patterns-point-to-a-parabolic-bitcoin-rally-in-2021\/","title":{"rendered":"Opinion: Past patterns point to a parabolic Bitcoin rally in 2021"},"content":{"rendered":"<p>Bitcoin may experience a &#8216;parabolic&#8217; rise in 2021, in line with Bitcoin&#8217;s price surges in 2013 and 2017. The view was voiced by Mike McGlone, Bloomberg Intelligence&#8217;s senior commodity strategist.<\/p>\n<p>According to him, this could occur if the patterns observed in those years recur.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> may undergo a parabolic 2021, as it did in 2013 and 2017, if previous patterns play out again. New highs are a next potential iteration and may be only a matter of time unless something we don\u2019t foresee trips up the trend of greater adoption and demand vs. limited supply <a href=\"https:\/\/t.co\/w742J7bXfC\">pic.twitter.com\/w742J7bXfC<\/a><\/p>\n<p>\u2014 Mike McGlone (@mikemcglone11) <a href=\"https:\/\/twitter.com\/mikemcglone11\/status\/1323963689318469632?ref_src=twsrc%5Etfw\">November 4, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p>New highs are the next potential iteration. It could be only a matter of time unless something unforeseen happens that disrupts the trend of broader adoption of Bitcoin and the demand-supply balance,<\/p>\n<\/blockquote>\n<p>The May halving is seen by many investors as one of the main factors that could push Bitcoin&#8217;s price to new highs. The reduction of miners&#8217; rewards from 12.5 BTC to 6.25 BTC led, for example, to Bitcoin&#8217;s annual inflation running below that of gold, the leading defensive asset among investors.<\/p>\n<p>The first halving occurred in 2012, and by the end of 2013 the price of Bitcoin rose above $1,000 for the first time.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"fhaznFgLa9\">\n<p>Speculators were behind Bitcoin&#8217;s price rise in 2013<\/p>\n<\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"\u00ab\u0417\u0430 \u0440\u043e\u0441\u0442\u043e\u043c \u0441\u0442\u043e\u0438\u043c\u043e\u0441\u0442\u0438 \u0431\u0438\u0442\u043a\u043e\u0438\u043d\u0430 \u0432 2013 \u0433\u043e\u0434\u0443 \u0441\u0442\u043e\u044f\u043b\u0438 \u0438\u0433\u0440\u0430\u044e\u0449\u0438\u0435 \u043d\u0430 \u043f\u043e\u0432\u044b\u0448\u0435\u043d\u0438\u0435 \u043f\u043e\u043a\u0443\u043f\u0430\u0442\u0435\u043b\u0438\u00bb \u2014 ForkLog\" src=\"https:\/\/u1f987.com\/exclusive\/za-rostom-stoimosti-bitkoina-v-2013-godu-stoyali-igrayushhie-na-povyshenie-pokupateli\/embed#?secret=hHVzH91fR9#?secret=fhaznFgLa9\" data-secret=\"fhaznFgLa9\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>After the second halving in July 2016, Bitcoin began a steady rise and reached a historic high of around $20,000 in December 2017.<\/p>\n<p>As of October, the Bitcoin chart&#8217;s monthly candle <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoins-monthly-candle-closed-above-13000-for-the-first-time-since-december-2017\">closed<\/a> above $13,000 for the first time since December 2017.<\/p>\n<p>Subscribe to ForkLog&#8217;s news on Telegram: <a href=\"https:\/\/t.me\/forkloglive\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog FEED<\/a> \u2014 the full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin could experience a &#8216;parabolic&#8217; rise in 2021, following the price surges of the first cryptocurrency in 2013 and 2017. The view was voiced by Bloomberg Intelligence&#8217;s senior commodity strategist Mike McGlone.<\/p>\n","protected":false},"author":1,"featured_media":31281,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1138],"class_list":["post-31280","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31280","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=31280"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31280\/revisions"}],"predecessor-version":[{"id":31282,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31280\/revisions\/31282"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/31281"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=31280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=31280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=31280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}