Is it possible for Bitcoin to go back up to $20,000 where it peaked in December 2017?
The overwhelming response from a lot of people was 'no never', Bitcoin can not go back to $20,000.

Let me show you why probably can go not only to $20,000 but can eventually go to $30,000 in the future.

Let's have a look at this chart.

This particular chart is not actually of Bitcoin. It's a stock of a famous company almost everybody knows probably. About 20 years ago, in 1997, the stock of this company went up more than 8,000 percent and then crashed by 94 percent. So this stock went into a massive bubble and then crashed by 94 percent.
But do you know which company's stock this is? It's Amazon.
Twenty years ago the stock of Amazon went from a dollar thirty and then skyrocket to more than 8,000 percent and then Amazon went to one hundred and 10 dollars and then crashed in the famous Dot-com crash.

This looks very similar to Bitcoin.

Bitcoin also as we know crashed by about 85 percent from its high as $20,000.

Most folks right now are of the opinion that it is over for Bitcoin and that Bitcoin cannot possible go back to $20,000.

Take a look at this chart.

Amazon now is about $1,600, but just last year in 2018, it was nearly $2,000. So bottom line is this, that here is the stock of Amazon after it crashed by 94 percent. It eventually recovered and went up nearly to $2,000 last year.

What This Actually Shows

This actually shows, is that most people who think that after a boom and bust like that Bitcoin went through, it's over, should really look at the market history of stocks like Amazon.

Therefore, it's perfectly possible and even probable for Bitcoin to do something very similar to go to $20,000 again, eventually into maybe even the $30,000 or more.

But When It's Possibly going to Happen?

Let me show you the next chart.

It's important to remember thought, that it took quite a bit of time for Amazon to recover eventually and go above its previous highs of 99. It took about ten years to replenish to recover or essentially exceed its prior highs.

What it shows that, we have to be very patient here. Anyone who thinks, is going to be a very quick thing for Bitcoin to recover, probably that's not going to happen.

It's a patience game, and again there is no guarantee it's going to recover, but bottom line by seeing the previous history chart of Amazon, is, it is perfectly possible and even probable for it to happen.

Comparing Bitcoin to Amazon?

Now, you would say, well, Amazon is a big company, how can you compare Amazon to Bitcoin?

Twenty years ago, hardly anybody knew about Amazon. Most people like you and me, did not use Amazon or the internet to buy stuff. Probably most of you 20 years ago bought your stuff from the high street.

But Amazon has put most high street shops out of business right now.

Amazon has changed the buying habits of most people. People are no longer shopping from the high street, they are shopping from Amazon online.

So, if Amazon could change the buying habits of most people, why can't Bitcoin do the same thing?

Maybe in the future ten or twenty years from now, people won't be using fiat currency like the dollar. They would probably be using something that actually has a finite value and something that is not fiat currency like Bitcoin or cryptos.

Note: This is not a financial advice. Investment in cryptos is highly speculative and the market is largely unregulated, therefore anyone considering it should be prepared to lose their entire investment.