This is an update to my post outlining a 10 year trade plan for Bitcoin. The same reasoning is applied with updated targets.
The primary target is $1,000 in 10 years.
$1,000 is expected due to the breakdown of the 2017 hyerwave - a pattern which now predicts a return to the horizontal resistance and breakout level when the bubble began.
10 years is expected because this could mark the end of the deflation period of the inflationary depression (see linked chart: 20 year depression)
The rest of the targets are simply working with major horizontal fib levels from $1,000 to $20,000 and a fib time zone with 0 at November 2018 and 1 at June 2019.
Once $1000 has been reached I expect a new hyperwave to begin, reaching far higher than the current price, potentially to $100,000 and beyond. This would be explained by the role of bitcoin as a safe haven in a flight to safety during a period of hyperinflation resulting from a global inflationary depression. I expect this final target to be reached by around 2040.
Targets:
Buy: $17,571
Sell: $24,444
Buy: $7,561
Sell: $14,889
Buy: $5,871
Sell: $12,889
Buy: $1,000
Buy: $641
Buy: $511
The primary target is $1,000 in 10 years.
$1,000 is expected due to the breakdown of the 2017 hyerwave - a pattern which now predicts a return to the horizontal resistance and breakout level when the bubble began.
10 years is expected because this could mark the end of the deflation period of the inflationary depression (see linked chart: 20 year depression)
The rest of the targets are simply working with major horizontal fib levels from $1,000 to $20,000 and a fib time zone with 0 at November 2018 and 1 at June 2019.
Once $1000 has been reached I expect a new hyperwave to begin, reaching far higher than the current price, potentially to $100,000 and beyond. This would be explained by the role of bitcoin as a safe haven in a flight to safety during a period of hyperinflation resulting from a global inflationary depression. I expect this final target to be reached by around 2040.
Targets:
Buy: $17,571
Sell: $24,444
Buy: $7,561
Sell: $14,889
Buy: $5,871
Sell: $12,889
Buy: $1,000
Buy: $641
Buy: $511
