Bitcoin targets $250k (based on fibonacci cycle analysis)
Based on the price action of the previous bitcoin cycles bitcoin is heading towards a price valuation of around $250k per bitcoin.
Market cap: $250k * 18,800,000 = 4,700,000,000,000 = 4,7 Trillion USD, which is the about the half of the current market capitalisation of gold (not only the gold which is meant as store of value).
It may sound crazy, but this scenario is definitely in play in my opinion. as a more conservative trader one could target $200k which corresponds with the 2.272 fib level.
another interesting assumption is that the 1.618 fib level which is around $60k may represent the bottom of the correction after this bull cycle ends. around this level bitcoin's price bottomed out in the previous cycles. I think we will see a top at some point in time between q3 2021 - q1 2022. yet I do not know how long this parabolic move lasts. to me the PA looks more like in 2012. now that the market is more mature and its size grew substantially, I guess its price action will be more stretched out than in 2012.
my crystal ball prediction is: parabolic move to 90-100k in q1 2021 -> blow off top as dxy rallies and pretty much all other markets drop harshly -> consolidation between 60-40k -> another rally in q4 2021 which leads us to new highs (200-250k).
Please like and share this idea and your thoughts below.
Greetings, hugisch
Market cap: $250k * 18,800,000 = 4,700,000,000,000 = 4,7 Trillion USD, which is the about the half of the current market capitalisation of gold (not only the gold which is meant as store of value).
It may sound crazy, but this scenario is definitely in play in my opinion. as a more conservative trader one could target $200k which corresponds with the 2.272 fib level.
another interesting assumption is that the 1.618 fib level which is around $60k may represent the bottom of the correction after this bull cycle ends. around this level bitcoin's price bottomed out in the previous cycles. I think we will see a top at some point in time between q3 2021 - q1 2022. yet I do not know how long this parabolic move lasts. to me the PA looks more like in 2012. now that the market is more mature and its size grew substantially, I guess its price action will be more stretched out than in 2012.
my crystal ball prediction is: parabolic move to 90-100k in q1 2021 -> blow off top as dxy rallies and pretty much all other markets drop harshly -> consolidation between 60-40k -> another rally in q4 2021 which leads us to new highs (200-250k).
Please like and share this idea and your thoughts below.
Greetings, hugisch