A Strong Case For A 100k Bitcoin Price Prediction This Year!

A Strong Case For A 100k Bitcoin Price Prediction This Year!

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Why We Will See A 100k Bitcoin This Year

Here, Eric Crown technically analyses Bitcoin's past and present movements. He also shares his positive but modest outlook for Bitcoin. What follows is the summary of his analyses.

Bitcoin has fallen by 50%. One may not be right to call it a bull or bear market. It's been more or less ranging, and there have been several opportunities within that range. That said, it seems there are good reasons to describe it as a bear market. And there's a potential for continuation which you can take advantage of as a trader.

But for the bull case, we have about one to three cycles this far. They all have a pretty nice rhyme with the way they've worked from a Fibonacci extension standpoint. If you use the drawing tools to check the chart from now back to 2014, you'll see that if we take a Fibonacci extension from the high of 2013 to the low of 2014-2015, Bitcoin got its initial breakout above the past prior weekly high. This is extremely similar to what we saw in the prior cycle from 2011 to 2012.

If you're looking for long-term trade and you've already missed the past move, you don't need to chase it again. But you'll miss the easy trade if you don't trade the lower timeframes.

Anything that gives people autonomous control over their lives is usually a good thing. For example, Bitcoin gives you autonomous control of your financial life, and this is a very good thing. Although there's no point in the thought that Bitcoin is going to replace the dollar. But Bitcoin can certainly fit within the current structure. Hopefully, people will take the good things that go along with Bitcoin and the current traditional stock structure and discard the bad things that come with them. .

Concerning Ethereum, the liquidity is pretty good and it moves a lot, even more than Bitcoin. In decades to come, the projection that Bitcoin will reach $1 million per coin may come to reality. But there are conditions it must meet. However, that would mean something terrible might have happened in the world if Bitcoin gets to $1 million per coin. Compared to gold, Bitcoin makes more sense to the younger generation.

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