TL;DR
- Benzinga crypto analyst Armando Pantoja predicted on Tuesday that Shiba Inu price will FOMO to $0.001. But, one of SHIB’s competitors may beat it to 100x.
- Although anything can happen in markets and past performance is no guarantee of future results, most crypto assets tend to deliver less ROI with each parabolic price rally.
Shiba Inu Price’s Diminishing Returns
Shiba Inu’s price gained a preposterous 1,000x in Q2 2021. Then during its next big surging rally in Sept-Oct 2021, it 10x’d.
Bagholders had to wait until this Spring’s Bitcoin ETF rally or the next parabolic leg up, which saw the price “only” 3.5x for a remarkable 250% ROI in 20 days.
That’s still 25 years’ worth of S&P 500 ROI for your grandfather, sitting patient with his monthly pension contribution in the 1980s. But for the total degenerate who finds such rewards skimpy, it’s not the 100x gain the Benzinga analyst projected this week.
For that, crypto investors may have to look no further than the O.G. cryptocurrency – Bitcoin.
Stock Legend Spots 8,500% ROI 2016 Bitcoin Price Pattern
Peter Brandt – a legendary technical analyst who’s been trading stocks since the 1970s – pointed out on Monday to over 733K followers on X that since this year’s supply halving, BTC’s price has fallen by the same amount it did in the 2016 BTC market cycle. That was far more than it fell by this time post-supply halving in 2020.
Bitcoin exchange markets might be reverting to the 2016 historical percentage patterns due to the massive influx of regulated Wall Street investors with deep pockets and a deep-seated hunger for higher and higher quarterly alpha.
As the Bitcoin ETF flows data reveal, this new cohort of investors has been pulling back from BTC in droves since taking the dive into cryptocurrency in January.
These same investors could very well drive bitcoin’s price to new highs by the kind of percentage swaths that made the asset seem too good to be true to any decent person back in December 2017, when it traded for $20,000 per BTC.
If the market in 2024-25 continues to retrace roughly the same percentage losses/gains it did in the 2016 super cycle, that could mean massive ROIs for bitcoin investors between now and this cycle’s top.
From long-term key support to key resistance at the top of the cycle, the 2020 BTC price market returned investors something like 1,000% in ROI in about 18 months.
However, four years earlier, the 2016 cycle returned investors’ principal to them with 8,400% profits in just 18 months’ time.
The post Shiba Inu’s Price Probably Won’t 100x: But This Crypto Asset Might appeared first on CryptoPotato.