Bitcoin (BTC) Price to Hit $100,000 in Two Years: Trader’s Opinion

News
Thu, 04/02/2020 - 08:35
Yuri Molchan
Now that the next Bitcoin halving is slightly over a month away, one trader is forecasting that the BTC price could soar up to $100,000 in two-three years
Cover image via stock.adobe.com
Contents

As Bitcoin continues trading below $7,000, on April 1 the price suddenly pumped eight percent, surging from $6,221 to $6,661 in a massive green candle.

Last year, at about the same time, Bitcoin skyrocketed more than twenty percent, hitting $5,000 for the first time in several months and later on, in June, it reached a high of almost $14,000.

Now, with the BTC halving forty-one days away, traders are making short-term predictions, while some are looking two-three years ahead.

One of them is predicting that, after the halving, Bitcoin may require a couple of years to reach an all-time high of $100,000.

100,000 USD on the table

Trader ‘Moiseiev_Yurii’ from TradingView has shared a long-term forecast, saying that he expects Bitcoin to reach the $100,000 level by the end of 2022.

Image via TradingView

The reasons he offers are as follows:

“- Price made 5 waves upward from 2011 year

- Now Price trades in ABC formation from 20.000 $ per BTC

- Possible end of wave C is Key Level 1100 $ per BTC

- When price will finish ABC formation then price will start new 5 waves upward

- Possible targets in this case can be round number which everyone is waiting for is 100,000 $ per BTC”

Related
Bitcoin (BTC) Could End Up Being 'Just Page in History Books': Peter Brandt

‘$5,000,000 per coin’

Trader @TheMoonCarl has gone even further in his bullish sentiment and stated that, with the halving approaching and the financial system being in a massive crisis, the price of Bitcoin may well hit as much as $5 mln – that’s five times more than John McAfee’s famous bet on which he promised to eat his own privates, but later went back on.

Bitcoin needs to break $6,900-$7,100

Analyst Michael van de Poppe believes that in order to resume the bullish trend, Bitcoin needs to flip the $6,900 level, after which it will be able to reach $8,000.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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