Thomas Fahrer, co-founder of Apollo Sats, has provided insights into Bitcoin’s historic bull runs, revealing that a future rise to $1 million would not secure a spot among the top three surges in the digital asset’s history.
According to Fahrer’s data, Bitcoin has experienced several significant bull runs over the years. Between July 2010 and January 2011, the cryptocurrency saw an astounding increase from $0.05 to $24, marking a 480-fold rise. From October 2011 to November 2013, Bitcoin soared from $2 to $1,100, reflecting a remarkable surge of 550 times. Another notable bull run unfolded from January 2015 to December 2017, during which Bitcoin surged over 122 times, climbing from $160 to $19,500. The most recent bull run, spanning from March 2020 to April 2021, saw a 16-fold increase, with Bitcoin’s price escalating from $4,000 to $64,000.
Fahrer’s analysis indicates that a hypothetical surge from the bottom of the current cycle, estimated at around $15,500 in November 2022, to $1,000,000 would represent a 65-fold increase. While this surge would outpace the 2021 bull run, it would fall short of surpassing the top three historic bull runs in terms of returns.
This assessment underscores that a potential surge of Bitcoin to $1 million, though significant, would not deviate from the cryptocurrency’s historical performance context. It highlights Bitcoin’s past ability to deliver remarkable returns, showcasing its resilience and potential for growth in the digital asset landscape.
