What I want to focus on this time, is the projection of the current cycle's top, in combination with a new long term pattern that may arise once this peak is made. I will be using the Fibonacci Channels and Extensions and this will not be the first time I am making a long term analysis using those tools (you can find those ideas at the end of this post).
To begin with, using the classic cycle bottom to top Fibonacci metric we can see that the 1.414 zone designates the top of the next cycle with uncanny precision! The next 1.414 mark is projected to roughly be around $150000. As you see from my previous studies with Fib channels below, this is not the first time such projections show a + $100000 figure.
What is more fascinating than the $150k projection itself is the spot where that peak takes place. That is where the Fibonacci Channel hyper trend (colored levels) crosses entirely above the infamous (and historically very reliable) Parabola (designated on the chart in blue). As you see on the chart, historically the top of the 2013 cycle was within the 0.786 - 1.000 Fib, the 2017 cycle within 0.382 - 0.500, so it is natural to expect the peak of the current cycle within 0.000 - 0.236 Fib.
This may be the start of a historic turn for BTCUSD as the Fibonacci Channel may not be of any relevance any more (it couldn't be forever) and the Parabolic Channel starts to turn asymptotic (standard parabolic behavior). This in turn can give rise to a new era for Bitcoin as greater world-wide adoption comes into play, a more stable environment is introduced and new standards, practices and regulations gradually turn BTC into an elite global currency.
Of course from where we stand today that looks like fiction but as I wrote at the beginning, it always had. Wild projections or not, the patterns have been so far too reliable to ignore and I wouldn't want to be one of those who overlook them. In 2011 people called a $30 BTC "expensive", in 2013 it was $1000's turn to be called "expensive" and guess what they call a $10000 Bitcoin price today.
But what do you think? Is $150000 a fair top to expect for the current Bull Cycle? And if so will that signal the start of Bitcoin's massive adoption?
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