BLOCKCHAINGROUPBELGIUM, Antwerpsesteenweg 19, Lochristi 14-05-2020

Based on calculations and current circumstances, I assume that 2021 has a great
chance for the 3rd bitcoin bull market. below you will find the basis for our
calculations

1. First it is important to know the value of both the blockchain and the cryptocurrency
payment system like Bitcoin before you can proceed.

• what is the Blockchain and how does it work?

https://www.youtube.com/watch?v=SSo_EIwHSd4

• What is Bitcoin?

https://www.youtube.com/watch?v=Um63OQz3bjo

❖ Bitcoin: A Peer-to-Peer Electronic Cash System: Official white paper

https://bitcoin.org/bitcoin.pdf

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2. The second point to understand before we proceed is, what is a Bitcoin halving
and what is its purpose .

https://www.youtube.com/watch?v=p3K44SKfmNg

3. the 3rd point to understand before we proceed is what is Macro economics and
what is business cycles?

https://www.youtube.com/watch?v=Y5jr_zv2Y9M

❖ now that we know what blockchain, Bitcoin, Bitcoin halving, the reason behind
the idea for a Bitcoin halving, Macro economics, and business cycles are. Now
we can move on to the next points.

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4. let's take a closer look at what a business cycle looks like.

As you can see, each cycle consists of 4 different phases. Each phase is
accompanied by different events.
- Stealth Phase
- Awareness Phase
- Mania Phase
- Blow off Phase

A. Stealth Phase
in this phase we see a very slight increase and there is not much to explore yet,
this is usually accompanied by negative statements and especially as little as
no media attention. The intention is that smart money enters the market. this
may be by the company itself and its direct partners and or there early
investors.

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BLOCKCHAINGROUPBELGIUM, Antwerpsesteenweg 19, Lochristi 14-05-2020

B. Awareness Phase
in this phase the intstitutional money comes in, which in most cases is
accompanied by more insight into regulation and already more promising and
positive news towards mass adoption.

C. Mania Phase
This is usually the shortest phase but also the phase where the sky has no limit
and everyone is ephoric. Here it is intended that the money comes in from the
public. here we see that the media talks about it day and night and makes
every new event or increase in value heard everywhere and the rumors go
wild. we see an extreme form of speculation. This is also the moment that
everyone talks about nothing but speculation. and the marketing team is in full
swing. The share price shoots up and everyone is stingy and wants more. That
is the moment where events take place everywhere and everyone wants to fly
on this rising train. this is also called stupid money. usually these people have
no awareness of what they are buying as long as the share keeps rising,
nothing can stop them. You will see that people who were skeptical before
change their mind and just do not want to miss this because who can compete
with this immense hype?

D. Blow off Phase

In this phase we see the first largest correction, but this is immediately bought
up again, the price can then return to almost the previous peak or even in
exceptional cases to slightly higher than the previous peak.
The reason for this first largest correction is because the first investors who
bought in the first phase (Stealth Phase) sell their part first. This part is very
difficult to predict as in most cases you can only predict this in advance
through inside information. This dip is usually bought by the public as they do
not know what this correction means and therefore think that this is the
perfect entry time to get their chance of boarding this train.
But of course institutions know what this means because they know that they
have not sold themselves and that there was no reason for the public to sell as
everyone thinks the sky has no limit and everything can only go up.

The 2nd correction is therefore usually the largest correction. This is also the
moment when the institutions step out and so the public is left with serious
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BLOCKCHAINGROUPBELGIUM, Antwerpsesteenweg 19, Lochristi 14-05-2020

losses. Which also makes sense since the first investors and the institutions
have run off with the people's money. This is also the reason that recognizing a
cycle is so powerful because it is in fact one big deception with the intention of
cunningly putting the public's money in their pockets using Psychology and
greed.

after this phase comes the phase of depression and despair as the majority of
the public who bought in the mania phase as well as the people who bought
the first big correction in the beginning of the last phase (Blow off Phase) have
lost their money and sometimes can wait for years for the next cycle before
recouping it. and this if there is even a next cycle and otherwise they will lose
their money forever.

now that we know better how a business cycle works, we will teach you how to spot
such a cycle.

The first phase is the most difficult phase to discover because in most cases
you have to have inside information for this. or this is also the phase before the
company goes public. as with an ICO or an IPO, here the risk is still very high
and the chances of the company becoming a success are still very small and
especially risky. This is also why the institutions always wait before joining.

But the 2nd phase is easier to spot, although it does need research and you
have to wait for the different confirmation phases to be sure that you do not
end up in a trap.

What are the characteristics and what to look out for:

the first thing to pay attention to is

regulation and licenses, why? Institutions need some form of certainty and
positive prospects before they can advise their customers to enter the gut
somewhere to limit their risk of loss. if there are no positive prospects or the
first steps of regulation have not yet taken place, the chances are far too great
to risk their name and lose their confidence to their customers.

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BLOCKCHAINGROUPBELGIUM, Antwerpsesteenweg 19, Lochristi 14-05-2020

the second thing to look out for is

business attention.
Here you see that more and more companies are actively trying to respond to
this market. this can be characterized by partnerships and helping to focus
Mass adoption. this can be, for example, by placing ATMs when it comes to a
financial revolution or carrying out business implementations, for example
with Tesla and the electric charge point connections, Etc.

and the last point

is to follow the money.
if there is less attention from the public and the media, it is also not logical that
the price increases with sometimes large fluctuations that have not been seen
before. the price will then slowly rise again. eg after a cycle where the blow off
phase has already passed. here it is still very crucial that there is little media
attention so that the institutions have enough time to get back into the market.
Because what is the point if the public also steps in at the same time? the
purpose of institutions is still to make a profit for both themselves and their
customers.

now that we know more about how a business cycle works. and how we can especially
recognize the second phase we will study the theory of Eliot wave.

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5. What is the theory behind the Elliot wave and how does it work.

https://www.youtube.com/watch?v=ra0apDkv_Hg

• The most important points in brief what to look out for

The Elliott wave consist of 3 large cycles upwards and afterwards 2 cycles
downwards.
this is followed by a phase of consiludation before the next cycle of an Elliott
wave starts again.
The 2nd cycle in an upward movement in the Elliott wave is usually the largest
movement and here too the psychological aspect is used to give instututions
space for an early entry and a second chance to exit

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BLOCKCHAINGROUPBELGIUM, Antwerpsesteenweg 19, Lochristi 14-05-2020

❖ now that we know the basics off how the instutution market works w e can start
analyzing the possibility for the next Bitcoin bullrun. and whether there will be
a next cycle. And in what possible term we could expect it

6. let's start by analyzing the Bitcoin chart.

1) The first thing you see is that there are always 5 phases

➢ Bull Market ( Mania Phase)

➢ Bear Market ( Blow off Phase)
➢ Accumulation ( Stealth Phase)
➢ Expention (Awareness Phase)
➢ Reacumulation ( early birds public Phase)

2) the second thing we see is that there are several recurring cycles

3) the third thing we see is that each cycle starts with a Bitcoin halving and then a bull
market.

4) the fourth point we see is Elliott wave theory. you see this inside every cycle

5) the fifth point we see is that until now there were only 3 Bitcoin halvings. And based on
the Elliott wave theory, this is the 3 cycle. The first cycle we see in the chart we cannot

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BLOCKCHAINGROUPBELGIUM, Antwerpsesteenweg 19, Lochristi 14-05-2020

calculate within the Elliott wave as this must be considered equal to the ICO / IPO phase
and not valid for a Elliot wave.

6) the last point we see is that as expected we have closed the third bitcoin halving within the
expected price calculation ( $ 8 000 - $ 11 000 ) the third bitcoin halving has taken place on
May 11, 2020 and hit $ 10,000 2 days before it to close finaly on the day of the bitcoin
halving at $ 8,500.

❖ The next point that we will now examine is whether there are indications of
institutions to enter the market

1) Here we will look at 2 determining factors

A what about regulation? is there a positive and promising view on this or not? and what has
changed since the previous bitcoin halving on July 9, 2016.

https://cryptonews.com/guides/countries-in-which-bitcoin-is-banned-or-legal.htm

➢ CBOE Resubmits the VanEck/SolidX Bitcoin ETF Proposal for SEC Approval - January
31, 2019
https://www.coindesk.com/cboe-re-files-vaneck-solidx-bitcoin-etf-proposal

➢ Facebook is Working on its own Cryptocurrency - March 1, 2019

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CEO and Co-Founder of BLOCKCHAINGROUPBELGIUM, legal action can be taken and the compensation can amount to 1,000,000.00 euros
and up.
BLOCKCHAINGROUPBELGIUM, Antwerpsesteenweg 19, Lochristi 14-05-2020

https://www.independent.co.uk/life-style/gadgets-and-tech/news/facebook-
cryptocurrency-whatsapp-bitcoin-telegram-signal-a8802651.html

➢ VanEck, SolidX to Offer Bitcoin ETF-Like Product to Institutions - September 3, 2019

https://www.wsj.com/articles/van-eck-solidx-to-offer-limited-version-of-bitcoin-
exchange-traded-fund-11567503003

➢ Long Awaited Bitcoin Futures Launched on Bakkt - September 22, 2019

https://fortune.com/2019/09/20/bitcoin-futures-bakkt-launch/

➢ Unicef Accepts Crypto Donations - October 9, 2019

https://www.unicef.org/press-releases/unicef-launches-cryptocurrency-fund

➢ 'Satoshi' is Added to Oxford Dictionary - October 15, 2019

https://www.theblockcrypto.com/linked/43326/satoshi-bitcoins-smallest-unit-is-
now-added-to-oxford-english-dictionary

➢ Bitcoin Flirts With $10,000 After China Endorses Blockchain - October 28, 2019
https://www.bloomberg.com/news/articles/2019-10-28/bitcoin-flirts-with-10-000-
after-china-endorses-blockchain

➢ NY Regulator Licenses Fidelity for Bitcoin Trading and Custody - November 9, 2019
https://www.ft.com/content/eb3fce1c-0a80-11ea-b2d6-9bf4d1957a67

➢ CME Group Launched Bitcoin Options - January 13, 2020

https://www.coindesk.com/cme-takes-its-bitcoin-options-live-competing-with-ices-
bakkt

➢ Second City in Switzerland Accepting Tax Payments in Bitcoin - January 29, 2020
https://www.bitcoinsuisse.com/news/municipality-of-zermatt-now-accepts-
payments-in-bitcoin/

➢ Twitter Adds Bitcoin Emoji - February 2, 2020

https://twitter.com/jack/status/1223841364711854080

➢ Indian Supreme Court Lifts Ban on Bitcoin Trading - March 4, 2020

https://qz.com/india/1813111/india-must-not-mess-up-with-bitcoin-other-
cryptocurrencies-now/

➢ Microsoft Patents New Cryptocurrency System Using Body Activity Data - March 26,
2020
https://news.bitcoin.com/microsoft-cryptocurrency-system/

➢ First Public Bitcoin Fund Listed on Toronto Stock Exchange - April 9, 2020

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and up.
BLOCKCHAINGROUPBELGIUM, Antwerpsesteenweg 19, Lochristi 14-05-2020

https://cointelegraph.com/news/first-public-bitcoin-fund-listed-on-toronto-stock-
exchange

B business interest and acceptance.

Update 2020

https://spendmenot.com/who-accepts-bitcoin/

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BLOCKCHAINGROUPBELGIUM, Antwerpsesteenweg 19, Lochristi 14-05-2020

C Bitcoin ATM's worldwide growth

https://coinatmradar.com/charts/growth/

❖ now we will study the total Market Cap and see what the expectations are.

➢ In 2020 with the Bitcoin halving was the total market cap
250 000 000 000,00 USD

https://coinmarketcap.com/charts/

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BLOCKCHAINGROUPBELGIUM, Antwerpsesteenweg 19, Lochristi 14-05-2020

➢ in 2016 with the Bitcoin Halving was the total Market Cap
11 182 000 128 USD

https://coinmarketcap.com/charts/

➢ In 2013, the total market cap

1 589 049 984 USD

https://coinmarketcap.com/charts/

We can see here that the market is still in an uptrend with every bitcoin halving, with the exception
of the missing data from 2012, and we are increasing by a factor of x10 - x20. This shows that if we
continue in this same upward trend, we could stand between 2.5 Trilion and 5 Trilion in 2024 with
the next Bitcoin halving in 2024. And with the statistics from recent years showing that we get 50% of
the previous peak at every Bitcoin Halving, this could possibly indicate that the expected upcoming
peak could be between 5 Trillion and 10 Trilion.

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BLOCKCHAINGROUPBELGIUM, Antwerpsesteenweg 19, Lochristi 14-05-2020

D Are there indications that this is not only our suspicion but also the suspicion of others?

➢ Us Senator Warner Bullish on Bitcoin, Says 20 Trillon Marktcap by 2020

During the senate hearing on 6 Februari 2018, he compared it to the 1980
Cellphone business and thinks the trend will continue.

https://www.youtube.com/watch?v=NjtgObaZLCw

❖ Below is a list of like-minded people who also see 2021 as a possible Bitcoin
bull market.

➢ https://www.businessinsider.com/bitcoin-price-prediction-marc-van-der-chijs-2017-
12
➢ https://cointelegraph.com/news/worst-bitcoin-price-prediction-of-2019/amp
➢ https://hackernoon.com/could-bitcoin-hit-dollar100000-by-2021-tf1g3zpw
➢ https://www.forbes.com/sites/ktorpey/2019/08/04/heres-the-case-for-a-100000-
bitcoin-price-by-the-end-of-2021/#5622021528f4
➢ https://medium.com/@Jared_J2/bitcoin-to-surpass-100k-by-2021-fec3a8c7de84
➢ https://www.forbes.com/sites/billybambrough/2019/10/26/after-recovery-to-
10000-bitcoin-could-hit-100000-in-2021/#60c301fd5169
➢ https://nieuws.btcdirect.eu/bitcoin-500000/
➢ https://cointelegraph.com/news/bitcoin-may-blow-past-100k-by-2021-morgan-
creek-ceo-says
➢ https://www.ccn.com/heres-why-bitcoin-price-will-smash-100k-before-2022-fund-
manager/
➢ https://www.youtube.com/watch?time_continue=9&v=v9uNnoRzR6Y&feature=emb
_logo

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for personal, non-commercial use. Any other use requires the prior written permission of BLOCKCHAINGROUPBELGIUM. if this has been
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CEO and Co-Founder of BLOCKCHAINGROUPBELGIUM, legal action can be taken and the compensation can amount to 1,000,000.00 euros
and up.
BLOCKCHAINGROUPBELGIUM, Antwerpsesteenweg 19, Lochristi 14-05-2020

Based on these calculations and circumstances, we have based our Fandamental

Analysis on it and with our report based on Technical indicators and analyzes, the
market is likely that these targets will evolve over 18 months from the date of the last
Bitcoin halving at 11 May 2020.
To this we have compiled a full portfolio where the risk and feasibility is below 50% of
the average expected increase in the majority of analysts and indicates an expected
increase of 5700% in the next 18 months. This takes into account that we evenly
distributed the investments over 7 different crypto coins with a proven and especially
added value for the crypto market.

To know more about which crypto coins are involved, And what options that we
offering for you, you can always contact us for a private consultation.

Rami@blockchaingroupbelgium.be

Yours sincerely

Rami Omar, CEO and Co-Founder Blockchaingroupbelgium.

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and up.