How Bitcoin Could Go to $3 million This Year (Elliott Wave)
Bitcoin and many cryptocurrencies look like they are completing a contracting triangle with reverse alternation which began in 2018. On Bitcoin it looks like this could be the end of F-wave, right before we get the final blow-off wave-G. This wave could be as big as Wave-C from 2013, which is also equivalent to 161.8% of wave-d that began in 2020 and ended last year.
The time target of waves D+E being equivalent in time to wave-F (big red boxes) means that we are at a major long-term inflection point this month. This could likely be linked to Biden's executive order related to "national security" and cryptocurrency, as well as a potential invasion of Ukraine by Russia. The EO could promote US cryptocurrency innovation and to compete with Russia and China and help him win votes for mid-terms while sanctioning Russian and Chinese central bank digital currencies which will be presented as an alternative to SWIFT when Russia is removed from SWIFT for invading Ukraine.
If China invades Taiwan after the Olympics and is removed from SWIFT, then we could see China finalize their CBDC which has already been in public beta stage for the last year, and present it as an alternative to SWIFT and Russian CBDC's
These factors as well as spiraling inflation could lead to speculative mania which sends Bitcoin to $3 million before seeing a massive crash that will take many years to fully recover from.
The time target of waves D+E being equivalent in time to wave-F (big red boxes) means that we are at a major long-term inflection point this month. This could likely be linked to Biden's executive order related to "national security" and cryptocurrency, as well as a potential invasion of Ukraine by Russia. The EO could promote US cryptocurrency innovation and to compete with Russia and China and help him win votes for mid-terms while sanctioning Russian and Chinese central bank digital currencies which will be presented as an alternative to SWIFT when Russia is removed from SWIFT for invading Ukraine.
If China invades Taiwan after the Olympics and is removed from SWIFT, then we could see China finalize their CBDC which has already been in public beta stage for the last year, and present it as an alternative to SWIFT and Russian CBDC's
These factors as well as spiraling inflation could lead to speculative mania which sends Bitcoin to $3 million before seeing a massive crash that will take many years to fully recover from.
Comment:
European Commission, France, Germany, Italy, UK, Canada, U.S. announce they will disconnect certain Russian banks from SWIFT and will take restrictive measures to prevent the Russian Central Bank from deploying its international reserves to undermine sanctions - Bloomberg
RUSSIAN MINISTER SAYS WE ARE WORKING ON DIGITAL "ONE WORLD ONE CURRENCY" FOR TRADE - LOCAL MEDIA
RUSSIAN MINISTER SAYS WE ARE WORKING ON DIGITAL "ONE WORLD ONE CURRENCY" FOR TRADE - LOCAL MEDIA
⚠️LIKE AND FOLLOW⚠️
*BIDEN SAYS DEFENDING FREEDOM WILL HAVE COSTS AT HOME TOO (inflation is going to spiral out of control)