Bitcoin To Hit $33k By July, Because… History

As you are likely aware, some time in May this year, the Bitcoin network will experience its third halving event. The increased awareness of Bitcoin since the last halving event in 2016, has meant a flood of predictions this time around.

5,333% Bitcoin ROI Between Halvings

As pointed out in a tweet by CryptoBull, the return on investment (ROI) for Bitcoin between the first (11/2012) and second (9/2016) halvings was an impressive 5,333%.

Bitcoin ROI from 1st halving to 2nd halving: 5,333%.

We are currently up 1,338% since the 2nd halving.

5,333% from 2nd to 3rd halving gets us to $34,838.

Less than 4 months to go.

$33k by July secured.

— Crypto₿ull (@CryptoBull) January 15, 2020

We must ignore the period between the genesis block and the first halving, because with zero initial value, the ROI would technically be infinite.

Anyway, applying a 5,333% ROI between the second and the upcoming halving would give us a target bitcoin price of $34,838.

Has Bitcoin Left It Too Late?

According…