07-16-2021
Bitcoin (Bullish Scenario to 100k)
I’ve heard this price prediction by many investors within the Crypto world mentioned often, and I feel seeing a chart that (reasonably) predicts this scenario may help. This is my theory on how Bitcoin’s price may reach, or even exceed, $100,000.00 by the end of 2021.
Bitcoin’s overwhelming popularity has seen the price reach new highs by mid-April of 2021. There has been wide-spread adoption by both retail/institutional investors, and the most recent being Countries now entering the space.
One scenario I offer is, by simply copying and mirroring the previous barns-pattern from Jun 15th , to the current date 07-16-2021, we might see a small move up, followed by side-ways trading all the way through mid-August. Assuming the popularity of not only Bitcoin but the Crypto space as a whole continues to grow, it’s completely reasonable to then see some kind of re-trace of the previous high (64k+.) I’ve placed a date as a reasonable (in my opinion) timeframe when Bitcoin might expect a retrace to 64 thousand (September 01, 2021.) I would expect an almost immediate drop to test previous levels. At this point, after 09-01-2021, it is crucial that Bitcoin passes the 65 thousand price-barrier (preferably by the end of September.
Summary: Assuming the miners that have moved out of China find a more “permanent” residency, and Bitcoin can withstand all the previous tests mentioned above, an expected price target of 100 thousand per BTC could be reached by 10-31-2021.
Additional Notes to consider: The RSI is showing an interesting price trend moving down. The Federal Reserve is preparing a White-Paper for CBDC's (Central Bank Digital Currencies) by September. This announcement (in my opinion) will affect the price regardless, so expect volatility during this time. As mentioned above, it's crucial that BTC sees new highs by the end of September, this kind of move up would also wash-out any concerns that may arise with the announcement of the CBDC 's during this time.
Bitcoin (Bullish Scenario to 100k)
I’ve heard this price prediction by many investors within the Crypto world mentioned often, and I feel seeing a chart that (reasonably) predicts this scenario may help. This is my theory on how Bitcoin’s price may reach, or even exceed, $100,000.00 by the end of 2021.
Bitcoin’s overwhelming popularity has seen the price reach new highs by mid-April of 2021. There has been wide-spread adoption by both retail/institutional investors, and the most recent being Countries now entering the space.
One scenario I offer is, by simply copying and mirroring the previous barns-pattern from Jun 15th , to the current date 07-16-2021, we might see a small move up, followed by side-ways trading all the way through mid-August. Assuming the popularity of not only Bitcoin but the Crypto space as a whole continues to grow, it’s completely reasonable to then see some kind of re-trace of the previous high (64k+.) I’ve placed a date as a reasonable (in my opinion) timeframe when Bitcoin might expect a retrace to 64 thousand (September 01, 2021.) I would expect an almost immediate drop to test previous levels. At this point, after 09-01-2021, it is crucial that Bitcoin passes the 65 thousand price-barrier (preferably by the end of September.
Summary: Assuming the miners that have moved out of China find a more “permanent” residency, and Bitcoin can withstand all the previous tests mentioned above, an expected price target of 100 thousand per BTC could be reached by 10-31-2021.
Additional Notes to consider: The RSI is showing an interesting price trend moving down. The Federal Reserve is preparing a White-Paper for CBDC's (Central Bank Digital Currencies) by September. This announcement (in my opinion) will affect the price regardless, so expect volatility during this time. As mentioned above, it's crucial that BTC sees new highs by the end of September, this kind of move up would also wash-out any concerns that may arise with the announcement of the CBDC 's during this time.