Topic: Bitcoin metrics “INSANELY BULLISH”! Can the King go to 200K or more this cycle? - page 3. (Read 373 times)

Yeah, many experts has predicted about reaching price levels between $100k to $400k by end of this year. Also, some people are expecting bitcoin to continue its bull run even in 2022 which means I guess around $400 levels also possible.

As of now, bitcoin is not insanely bullish unlike how it was trading by the times of earlier this year but now it is moving up slow and steady. Usually all slow and steady movements will turn as too faster over the time hence we could expect the same to be happening when FOMO will come into action.

End of bullish trend may happen along with this year end but when considering El Salvador and bitcoin ETF news, then I guess we may have bullish trend till 2nd quarter of 2022 too; we cannot speculate exactly hence we need to be more careful if we plan to book profits at peak.

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.

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.

---

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.

Exactly, I think we are still on track to hitting at least the conservative estimates of $100k this 2021. We have been bitcoin hitting 2x ATH this year and it will continue to break barriers in the next coming 2 months.

Let's just enjoy the bull run for now, no talk of bearish cycle, Lol. Let's see how far this bullish market can go, maybe the $100k-$200k prediction might be hit in early 2022 so we might delay the bear market for the meantime.

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 think this Bitcoin price prediction for 2021 ($ 100,000 or $ 200,000) is very optimistic.  

Why is the price of bitcoin rising?  The US dollar is losing its role as the world's reserve currency. China and other countries create a new currency (Central Bank currency, i.e. CBDC).  Uncertainty in the world leads to panic attacks (Covid-19).  At the same time, we are witnessing the collapse of globalism, the cancellation of flights between different countries, the isolation of people, the rejection of the real world in favor of the virtual world.

We live in a period of transformation of the global financial system.  Bitcoin price is rising (blockchain is not susceptible to panic attacks).

My Bitcoin price prediction in 2021 is from $ 30,000 to $ 45,000.

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!