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When BTC Price Can Reach $100K? Secret Patterns Revealed By Traders

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When BTC Price Can Reach $100K? Secret Patterns Revealed By Traders
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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There’s a huge amount of crypto pundits who believe in might and potency of Bitcoin, thus reckoning that BTC will multiply its cost in the nearest years. Take John McAfee alone: he states that Bitcoin will cost $1mln! However, even if it’s true, years should pass for BTC to reach such heights. Let’s take a more viable Bitcoin price prediction - $100,000. What are the chances for BTC to rise its value by x12? And most importantly, what will drive its growth?

Let’s take a look at several BTC price charts and interesting patterns – that might give you a hint.

The pattern that we missed

Will we see BTC reaching $100K by 2020?

Bitcoin is now next to making the 0.382 Fibonacci retracement test (ATH to $3,150 bear cycle Low) and one thing has shocked the crypto world more than anything: considerably shorter time it has taken for BTC to do so compared to the previous two cycles. Few expected such a strong and continuous rebound since the $3,150 bottom. Is that right? Since most researchers thought that market cycles take longer within Bitcoin's parabola, why are we seeing such a strong rise and such a short test of the 0.382 Fibonacci?

TradingShot has already noticed BTC/USD band shift on the Fibonacci Channel, warning of an upcoming hyper strong bullish sequence while the price was still $3,800, and it is now more relevant than ever before.

Maybe the cycles don't become longer each time. Maybe they take turns. One is longer, the next is shorter and then the process is repeated. So far, the Fibonacci Channel since its inception has been providing very clear supports for the cycles' bottoms (on 0.5, 0.382, 0.236 and near 0 in succession). This process may be reversed from now on with each bottom being on a band higher.

The current strong rebound from $3,150 to $9,100 may be an early indication of this band shift showing that the very aggressive bull cycle of 2012 - 2013 may be repeated. This suggests that the $100,000 land mark may come as early as 2020.

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Double bubble: $50-100K in a month

BTC could boom if $11K resistance is broken

VictorCobra has posted a scenario of the accelerated boom, which is pure speculation, but seems to be interesting.

Looking at the only time Bitcoin behaved this way of a bottom (2013), we can see that it barely corrected before it made its next top. A lot of people have been joking around, saying that Bitcoin may not experience large corrections during this current bull cycle, before the eventual top. They may end up being correct.

If Bitcoin follows a similar path to 2013, something like the past scenario could happen. This also means that Bitcoin could increase by over 1000% within the next several weeks.

This seems to be extremely unlikely, but it was also unexpected for Bitcoin to smash through all the bear market resistances so easily. On the downside, there IS still a possibility that we will have one more drop. This rally seems overextended as it is. But this extraordinary bullish possibility shows you why trying to time this market is nearly impossible. Long term investors "holders" almost always outperform traders for this reason.

The probability of this actually occurring would dramatically increase if the light blue channel resistance in the mid $11K area is taken out. Likewise, it would decrease if we continue to stall in this area for more than another week, and if we break down from the blue uptrend again. What's also really crazy, is that many established altcoins are coiling right at a major neckline resistance - which, if broken, would immediately give way to the possibility of new ATH's.

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Through the channel to $140K by mid-2021

BTC can top $140K by Q4 2021

User NickSnydz has made a conservative BTC price chart, which shows more realistic opportunities. BTC will do a double top on this channel between now and November 2021. It will hit the channel top for the first time around $40K at the end of 2019 going into Jan 2020. It then takes a quick dip for a while but begins up again for a double top in this channel. T

The second top before the large bear cycle will happen in November of 2021 possibly into December and has BTC topping near $140K. If you really want to know when to sell in this long term Bull-Cycle, put BTC on the all-time log view. Pull up the RSI. Every bull cycle top goes thru 2 RSI tops near 92-97. Just wait until the second part of that double top starts to come in this time and sell somewhere in that area to be safe.

Final thoughts

It’s up to you to decide whether these price predictions are viable. From one point of view, it’s less likely that we see the same burst as in 2017, from another – BTC is able of doing unpredictable things. Anyway, it won’t hurt to keep some of your assets in Bitcoin – one day, your profits are to multiply.

Bitcoin price charts from TradingView

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About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

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Bitcoin’s Domination May Rise According to One Analyst

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    Famous analyst PlanB published an interesting chart showing the four stages of Bitcoin’s market dominance. It appears that he predicts hard times for the altcoins!

Bitcoin’s Domination May Rise According to One Analyst
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Contents

With the last days of 2019 right around the corner, analysts and traders are getting the audience pumped for 2020 forecasts. The third Bitcoin (BTC) halving and Ethereum's probable migration towards its Proof-of-Stake (PoS) consensus will be hot topics for the crypto community. Prominent trader PlanB decided to surf this wave by showing BTC's dominating traction.

Four Stages for Dominance

In the historical chart, PlanB has revealed one of the most important indicators of the crypto world - Bitcoin's market capitalization. This indicator shows the ratio of BTC's market capitalization to the capitalization of all other cryptocurrencies tracked publicly by the available services (4000+ coins). This is used as a sign of comparative demand for altcoins and BTC.

Bitcoin Dominance Historical Chart
Image by: https://twitter.com/100trillionUSD/status/1203012308513017856

Plan B showed the four stages of BTC's dominance, in which the graph is slipped vertically (bottom line indicates 100% BTC market dominance). The first stage, which lasted before April 2017, showed that BTC's dominance was more than 90%. The second stage (April-September 2017) showed that the figures were between 70% and 90%.

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The third and the fourth stages repeated twice from September 2017 to the present day. In the early days of 2018, the indicator was at an all-times-low of 35%. Now, the graph is about to re-enter BTC's second stage with a 70+% dominance.

Altcoin Annihilation?

PlanB surrounded his picture with the ironic hashtag #altcoinannililation. Therefore, PlanB interpreted this traction as bad sign for the altcoins. It should also be said that some of commentators in PlanB's open thread suggest that the four-stage cycle was launched by the previous BTC halving of July 9, 2016.

Furthermore, we can see that BTC's high price correlates with its low market dominance. With that said, the publication by PlanB forecasts an extremely bearish start for 2020.

Recently, BTC advocate Tuur Demeester claimed that the price of BTC will drop one more time to $5,000. This level will be reached due to the capitulation of "weak" investors prior to the long bull rally.

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About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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