Bitcoin log growth curves point to $230K by end of 2022
The reason I can see far into the future on the potential of Bitcoin's price are the bitcoin log growth curves put out by Cole Garner on Trading View several years ago. 95% of the time the Bitcoin price has stayed within the bottom and top curves historically since Bitcoin's inception on the exchanges.
I have plotted all intermediate Elliot Waves for the 4 bull markets since 2010. The 2020-11, 2011-13, 2015-17, and this 2019-22 bull markets clearly show that Bitcoin stays in the bottom 5 curves 75% of the time. When the price leaps into the upper curves Bitcoin is either completing an intermediate wave (3) or (5). Since intermediate wave (3) completed most likely with a completed C wave in Jan 2022, this is most likely the beginning of an impulsive intermediate wave (5) that will go to the top of the curves just like BTC did in April 2011 at $32, 11/30/13 at $1177, and 12/17/17 at $19764.
The 5th wave typically does not last longer than the third wave. Since the third wave lasted 13 month from Mar 2020 to April 2021, it is likely this 5th wave will not go beyond 13 months from Jan 2022 or Feb 2023. An end of year top is likely like the last two bull tops on Nov 30th and Dec 17th. Alts are likely to top a few weeks after BTC again like what happened in Dec 2017/ Jan 2018.
I have plotted all intermediate Elliot Waves for the 4 bull markets since 2010. The 2020-11, 2011-13, 2015-17, and this 2019-22 bull markets clearly show that Bitcoin stays in the bottom 5 curves 75% of the time. When the price leaps into the upper curves Bitcoin is either completing an intermediate wave (3) or (5). Since intermediate wave (3) completed most likely with a completed C wave in Jan 2022, this is most likely the beginning of an impulsive intermediate wave (5) that will go to the top of the curves just like BTC did in April 2011 at $32, 11/30/13 at $1177, and 12/17/17 at $19764.
The 5th wave typically does not last longer than the third wave. Since the third wave lasted 13 month from Mar 2020 to April 2021, it is likely this 5th wave will not go beyond 13 months from Jan 2022 or Feb 2023. An end of year top is likely like the last two bull tops on Nov 30th and Dec 17th. Alts are likely to top a few weeks after BTC again like what happened in Dec 2017/ Jan 2018.
Comment:
meant June 2011 not April 2011 for a top to the 2011 bull market
Trade active:
meant intermediate wave (4) completed likely with a C wave in Jan 2022; wave (3) completed in Apr 2021 at $64899
Comment:
correction meant $230K projection is for the end of 2023