Bitcoin $250,000 price target using the Pitchfan Fib

Long

Bitcoin Liquid Index (BNC:BLX)

Updated

BNC:BLX Bitcoin Liquid Index

trendanalysis bitcoin target 2023 halving speculation tim draper

I just wanted to use a longer Pitchfan fib on BItcoin with the projected $250,000 price target by Tim Draper. We do not know what year this will happen but it is very likely a doable scenario given all the financial corruption by governments on a global scale. I decided to use the Bravenewcoin Liquid index for this chart.

Comment:

I am leaning more to a 2021 possible run on btc because of the 4-year cycle we have on Bitcoin. What I mean is that the Bitcoin halving has a 4-year cycle event that does affect the price values on many of the altcoins in this market. For example, 2013 was my first Bull run ever experienced and then 2014-2016 we had three years of a bear market followed by 2017 the Bull run. Likewise, 2018-2020 marks the next 3-year bear cycle with 2021 being the Bull run. I thought 2022 was going to be the next Bull but now I am more in agreement with 2021 along with other factors as Pantera Capital (plus other respected TA individuals) and the Stock to flow chart by Planb suggests.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.