Topic: Bitcoin metrics “INSANELY BULLISH”! Can the King go to 200K or more this cycle? - page 2. (Read 356 times)

It’s hard to say which way we will go. On one hand it’s good that we broke ATH however the break was very weak. Usually when we break ATH we surge 20% in a day or so. Clearly this isn’t the case right now.

We also are almost down $10K from the highs and the bounces are week. I think we might go all the way down to $53k which is the pivot that we made last month. That has a better chance of holding and we might retest ATH again and if we don’t break it then, it’s most likely the top for a while.

Probably attainable, the question is how likely it is. You never know with Bitcoin, and it looks like the best is yet to come this year but $200k I see as too bullish. Maybe if the bull run stretches well into 2022, as some predictions point to, we will hit that figure, but if we peak in December I doubt it will be as high as $200k.

Anything could happen. But, when most people start being cautious then no one could hold the market. I mean all the investors who had watched bitcoin markets by 2013 and 2017, definitely will look for bearish market from January 2022 which means they may not add new bitcoin to their portfolio. So, when market sentiment turns then understood cycle will persist.

Only whales could take the current bullish trend till mid of next year. They need to trigger FOMO to make individual investors to help them.

200k is is attainable if you do ask me which is way more better than to those people who had been crying out for million a coin
which is already too unrealistic.

That's not FUD actually its FOMO that encourage more people to buy before its too late.
This is just indeed a prediction only and its up to us if we are going to buy or not but if we are talking about Bitcoin here, I have more confidence to hold this than to any altcoins because I know, Bitcoin will also grow and we are still not in the mass adoption so imagine the future price if many people started to use Bitcoin.

It is just a prediction that the Bitcoin price can reach $100k. But I don't think it is FUD, bro. Some people who predicted it are experts and experienced investors/traders. They have strong reasons to state the price of Bitcoin can reach $100k or above. They learn it from analyzing the chart patterns and they also consider it from some fundamental aspects.

For me it's sounds like FUD to me dude i think it is very hard for Bitcoin to reach 100,000 usd

Many of the well respected analysts including Willy Woo, Plan B & Will Clemente think we are going to over $100,000 per bitcoin before New Year.

I see nothing to suggest we won’t, we’re currently following previous bull cycles & Q4 is usually the real rocket launch. Let’s see what happens but the last few months of this year could be very explosive to the upside.

Glassnode’s detailed in-depth analyses  of BTC’s metrics are interesting, and it was fascinating to see their report 4 days ago that the number of BTC addresses holding $1M USD had gone ‘parabolic’ in Dec with a 150% increase to 66,500 https://twitter.com/glassnode/status/1339476314118643714?s=12  Also very interesting was CoinTelegraph’s recent report on Glassnodes CTO Rafael Schultze-Kraft saying ‘all’ of BTC’s major market indicators and metrics compared to their 2017 levels and then applying their subsequent increases in the 2017 bull run were “insanely bullish”, with all but one suggesting BTC’s price would rise well north of $200K this market cycle in the bull run that has started https://www.google.com/amp/s/cointelegraph.com/news/insanely-bullish-glassnode-cto-predicts-btc-price-will-10x-from-here/amp !!

Many crypto and traditional financial experts are now giving similar bullish predictions as they see BTC replacing gold to a greater or lesser extent as a good investment option and a store of value and hedge against inflation with more and more public companies and rich individuals buying BTC in big amounts - Plan B’s stock to flow model predicts a price of 100-200K in 2021, Raoul Paul ex of Goldman Sachs predicts 200K in 2021; Willie Woo predicts 200-300K, Mike McGlone of Bloomberg predicts 200K, Tom Fitzpatrick of Citibank predicts 300K, Ficas Ag Swiss predicts 200-300K, Max Keiser predicts 100K, Pomp predicts 100-200K, Adam Back predicts 300K by 2025 etc.

Very bullish predictions, and I think 100K is likely in 2021 and maybe 200K is possible as more and more money chases scarcer and scarcer BTCs - but volatility will also persist I’m sure in 2021 with periods of optimism and pessimism, and funny BTC has just fallen $2K in the last 3 hrs as I wrote this bullish thread. So who thinks BTC will hit 100K in 2021, and do you agree with the Glassnode analyst and other experts it will hit 200K - and who’s brave enough to agree with the Bloomberg analyst and Willie Woo that it can hit 300K for a 14x and 1,400% increase in price in 2021?

And if BTC’s price does hit 200K+ we might well find Glassnodes data showing us one day in 2021 that there a million BTC millionaire addresses (66,500 x 15) - mind-blowing!  

End of the understood cycle?

This post of mine from 10 months ago is aging well! $67K I’m the bag, and my prediction is for a BTC peak price this market cycle of ~$150K late Dec before a bear cycle starts 1st Quarter 2022 - which would be exactly midway between my $100-200K prediction 10 months ago if it comes to bear … or bull would be more appropriate lol!

I'm not a pessimist, but I'm also wondering what could be the trigger for the price to reach $100k by the end of the year, because the market does not depend on magic and good fairies, but on good news and a lot of money to flow in the BTC direction.

This post of mine from 10 months ago is aging well! $67K I’m the bag, and my prediction is for a BTC peak price this market cycle of ~$150K late Dec before a bear cycle starts 1st Quarter 2022 - which would be exactly midway between my $100-200K prediction 10 months ago if it comes to bear … or bull would be more appropriate lol!

It is not wise to draw conclusions based only on the part of the tweet you have read, because the second part explains why the number of such addresses has increased. If an address is presumed to be lost, the amount on it is important only in the context that because of that, all those coins in circulation may one day be worth more.

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The market became optimistic with the approval of the first BTC ETF in the US, but that optimism quickly melted away when people realized it was a futures-based ETF. Although I keep reading that crypto exchanges have liquidity problems (the biggest since 2018), and that no one wants to sell even when we reach the new ATH, I wonder why then the price is falling instead of rising?

I'm not a pessimist, but I'm also wondering what could be the trigger for the price to reach $100k by the end of the year, because the market does not depend on magic and good fairies, but on good news and a lot of money to flow in the BTC direction.