This looks like a joke to me, you mean Bitcoin will hit $240K in just 4 years? This is will not happen, I will not even think of that. I would have been in agreement if it were to be $100K, but $240K is way too much.
Many challenges are still there for Bitcoin, and if it overcomes most of them, gone are the days when it can be so directional due to the activities of a few bitcoiners and traders that could cause spikes because of their dominance even with little liquidity. Bitcoin has been inculcated into the mainstream now, such can't be the case anymore as it now behaves as a real market/asset.
Therefore, forget that such a dream.
Many challenges are still there for Bitcoin, and if it overcomes most of them, gone are the days when it can be so directional due to the activities of a few bitcoiners and traders that could cause spikes because of their dominance even with little liquidity. Bitcoin has been inculcated into the mainstream now, such can't be the case anymore as it now behaves as a real market/asset.
Therefore, forget that such a dream.
You should understand first the premise of the chart and what’s technical analysis all about. He is just assuming that Bitcoin will repeat the previous cycle growth percentage to the next year since Bitcoin has a pattern of growth for every 4 years if you will read the Bitcoin chart since day 1. It’s a joke for user that doesn’t understand how TA works and how to use it as guide for future price reference.
The OP clearly emphasized the last 8 years data including the 2 cycles happened in every 4 years. It’s very easy to understand on how he come up to that price. This is not a nonsense speculation but rather a prediction based on previous data. There’s a chance that it might happened but there’s no guarantee.
