Topic: Bitcoin Can Increase by 74% Before Reaching Overbought Conditions. (Read 108 times)

You can see the massive volume at that level. IMO many big whales have already capitalized on that opportunity and this is what propelling this bullrun fundamentally.

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Spot on!

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Really! sideaway state!!!!
Yeah, maybe for a short-term trader it is .
Anyway, what was your entry point before chickening out at $100k?  . Just kidding mate . Your money your choice.

Bitcoin is predicted by me to reach the all-time high of $150,000 before this bull season ends

Also, there have been several speculations regarding the market price for bitcoin this bullrun, but few are going to be accurate.

If you think you're well doing in this, then recall on the previous speculations made and see how accurate they have applied to the market value we later have bitcoin.

It's great to see people predicting the price of Bitcoin, we know the price of Bitcoin will definitely rise beyond the current, not just $180k it could even reach $250k, because over time more and more people will realise the potential and benefits of Bitcoin in the future, with limited supply and technology in it it is a fair price. Currently I personally have take profit on all the bitcoins i have, selling 100% above the price of $100k, the reason is that currently Bitcoin is still in a sideaway state, i am a techincal anlysis user, so of course i will adhere to the trading plan i made, i will wait and see Bitcoin breakout beyond the highest resistance, after that i will buy it back.

I think OP also understands because i see you use Moving Average in your analysis, surely you know if the price is sideaway we have to wait for the entry moment to minimise risk while looking for the best price. i understand all prices are cheap, that is if you are a long-term investor. While i prefer to take short-term profits (Scalping), it is more profitable and maximises profit, for me.

Finally, we must remain careful because no one knows the price of Bitcoin next week or next month, never use borrowed money for investment, it is very risky. No one expected the current Bitcoin price to exceed $100k even though 2023 Bitcoin is still at $17k so anything can happen, for long-term investors it will not be a problem, while for small retail this will be a problem if you have to wait for the 2028 2029 bull run, because Bitcoin still has the potential to fall below $90k, so you have to anticipate from the start because the most important thing is real life.

Yes, and what if we hit that $207k? so I guess we could really stick to it for now, although if we are going to be conservative, $180k tops this bull run, is not that bad and we will be very happy to take it.

And it still aligns with what the earlier predictions, except maybe those personalities or entities who has obvious some narrative on why they pushes like in the $250k or even as high as $400k this bull run.

I’ve been thinking for a couple of years that this cycle top will be $180,000 - $250,000. The 2017 cycle top was close to $20,000 so we did a 3.5x to the 2021 cycle top at $69,000.

Multiply $69,000 by three = $207,000 so with slightly diminishing returns $181,000 would make sense and I’d be happy with that. Let’s go boys!

Thanks for you post, as everyone is really on that $150k-$180k prediction. Even non TA might want to tend on that level, Just remember the lowest low that we have in this cycle, it's $15,500 and if someone could have bought 1 BTC by that time, he could just be sitting right now and just waiting as what will be the peak of this cycle and most likely sell some and repeat the cycle again. You really need to have a lot of balls though, to look long term and be positive based on the past historical logs of Bitcoin that in every cycle the price is going to multiple x folds of amount. Although the next cycle could be less dramatic as there are a institutions and governments who are going to invest on it as well. But still, for average joe, we have time to buy and accumulate even at this point.

I agree with the overall proposition of your post that any time is a good time to buy BTC from a long-term perspective. I just want to add that understanding key levels such as those mentioned in OP will further help you make better entry points (even for DCA) and increase your overall BTC holdings.

A simple look at the price history of bitcoin will show that buying bitcoin at this time is not a bad decision. Bitcoin is a long-term investment for those who are not traders, so buying bitcoin now means you're leaving it for a long time.
You don't need a professional to explain anything to you. If 15 years ago bitcoin was less than $100 and now it has grown above $100k then you should know there is a very big potential of it getting to even greater numbers because if it can grow so much in a time when the government and many other corporations and venture capitalist were fully against bitcoin, what do you think will happen now that there is a compromise amongst these people and a paradigm shift in the way they view bitcoin? It's not rocket science.

Why not? I've predicted Bitcoin could hit $180K because in the last super cycle, Bitcoin can reach $69K from $19K, so the price rose around 3x from the last cycle. $60K x 3 = $180K.

But, it's not easy as that to predict Bitcoin price, as Bitcoin price become more expensive, it will be harder to pump the price.

My expectation isn't that high, I would say if Bitcoin price cross $138K ($69K x 2), it's already good enough.

Glassnod's stats indicate that Bitcoin's Mayor Multiple is 1.37 as of now which means it is 37% above the 200-days (daily) moving average (200DMA). The overbought threshold is 181k which is almost 74% higher than the current price  . So those who are saying, now it is too risky to buy BTC, GTFO. You are wrong from every perspective.

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Mayor multiple = (Current Price)/200ADMA
A mayor multiple above 2.4 generally means asset is overbought and a Mayor multiple below 0.8 indicates oversold conditions.

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Source: https://thecryptobasic.com/2025/01/24/on-chain-data-shows-bitcoin-has-74-room-to-grow-before-entering-overbought-territory/