Bitcoin bull push to 600k ?

[trumpman]

What do you think of this analysis?
Everything until now (even the recent re-accumulation phase is just as planned). Can the push reach the new highs like 600k? The date says 25. May probably with libra effect included in the growth.

LOL? 600 k isn't happening any time soon, if ever. IMO, the only way to see prices like that is only  if the U.S. dollar goes full bolivar in regards to inflation...

[Shenzou]

600k is a big number considering the point and the situation that bitcoin is at aright now, it is good to be optimistic and it is true that bitcoin has shown us and surprised us many times by reaching the once we thought impossible but we also have to be somewhat realistic, considering that next year we have the halving and the Libra coin might push the cryptocurrency industry to rise but i think that we might get close to 20k or 30k by the end of they next year, but only time can tell we just have to wait and see.

[goto22]

What do you think of this analysis?
Everything until now (even the recent re-accumulation phase is just as planned). Can the push reach the new highs like 600k? The date says 25. May probably with libra effect included in the growth.

Seems like wishful thinking. I expect BTC won't see those heights for years to come, provided that it ever does. I would like to see it, don't get me wrong, but this just seems pretty impossible.

[Cityhunter123]

600k? I'd rather believe in the return of the dinosaurs

[Youghoor]

Bitcoin bull push to 600k ?

600k is definitely a wide dream looking at the bitcoin market. I don't really see Bitcoin attaining the price of $600k. The possible market value that Bitcoin can reach considering the entire crypto ecosystem will be between $50k to $100k. i think you should redo your analysis again.  In as much that possibilities exist in the crypto space, this analysis is not very feasible.

[aysg76]

It's easier to look at total market cap instead of the actual BTC/USD price.

600k per coin would equal $13T market cap, which is almost twice the market cap of gold itself.

Not impossible, but it will definitely take longer than 2 years. Every time the market goes up a lot, early hodlers will tend to sell some of their holdings, bringing the market down again.

600K per coin really?
Yeah, that can happen in some million years!!!

[HatakeKakashi]

Bitcoin is a potential coin and for sure bull run will happen again to our king of coin but for the $600k it is very unrealistic.
The analysis is depends to the people of they want to believe or not because people have other analysis and my highest bull push for the bitcoin value is only $100,000 and even that is no guaranteed to reach because bitcoin still mysterious about what highest value it can be.

[qiwoman2]

Can the push reach the new highs like 600k?

Bitcoin has dropped lately. It has just started to recover. In such periods the ones preaching an even bigger drop (the FUDers) are the more vocal ones.
If Bitcoin will have a sustained growth for a while, the dreamers will kick in, telling about 500k, 1M and maybe even bigger numbers.

So right now your numbers are "a blasphemy"  
Imho yes, 600k is not an unrealistic number. The only problem I see is the timing, that could be wrong. And I think that I know why too: Libra may have no effect at all.

I am going to be realistic to be quite honest. I doubt we will ever see a 600k USD Bitcoin, well not in my lifetime anyway. The fact is people can make a crap ton of money shorting Bitcoin, so why would they even bother to try to pump it up? Only if there was a huge influx of people coming in to buy it in droves and holding it, would there be that kind of a chance, and even then the Powers that be could do everything in their power to manipulate the market and keep the price low. Look at the price of gold for example, it was held down for years and years. I think they will try to do their utmost to keep the price of Bitcoin low so that they can accumulate and own in the end most of it. This would technically make it less and less decentralised as bigger fish would own the majority of it like Rich people do with every asset class.

[darkangel11]

It's impossible in 1 run especially at this market cap. It was easy enough at 1k USD or even 2k to go tenfold but the higher we get the weaker the pumps are going to be. They will still be big in terms of money flowing in because in the early days it could be 1 million dollars and the price skyrocketed. Now it will be 10 million but we won't pump 2x from the current price with only 10 million.

50k USD is not very hard to reach but 200k is a very big jump. 600 is impossible. It will take 2 or 3 bull markets to get there.

[Distraction]

According to your graph, Bitcoin will fly to 600k dollars in a very short time. I respect your thinking but this graph seems too optimistic. I agree that we can see a bull run again after accumulation period but I don't expect Bitcoin to reach 600k. It would be too surprising I think.

[marcotheminer]

It's easier to look at total market cap instead of the actual BTC/USD price.

600k per coin would equal $13T market cap, which is almost twice the market cap of gold itself.

Not impossible, but it will definitely take longer than 2 years. Every time the market goes up a lot, early hodlers will tend to sell some of their holdings, bringing the market down again.

Remember a scenario of USD/EUR/GBP/etc devaluations. That could make 1 BTC worth over a million USD (and at the same time, market cap of gold will increase too). I see it before 2030, when basket of goods are priced in BTC or the leading crypto of the time.

[TinaK]

Perfect analysis for the bitcoin price bump. If there is crazy pump in coming days every people will make some rocking year for it. We need to understand the worth with this analysis and make the mark in the price chart.

Please review more cryptocurrencies, I believe we are on the bottom now. So we need to pick all the coins instantly and make money out of it.

[lionheart78]

If the rally starts on May 25 of 2020, then before that is just a sideway of $10k, that is pretty much a very steep climb of BTC in just two years.  I am no TA expert but any sane person can at least see it as next to impossible.  Reaching $600k in just a matter of less than two years (May 2020 to Dec 2021).  Lets wait on breaking $16k this October first, then the $100k on 2020, before talking anything above those numbers.

And I think this prediction's here is much realistic than any of those extreme ones.

https://changelly.com/blog/bitcoin-price-prediction-2019-2025/

[CLS63]

It is a plausible graph except 600k prediction. It is a very far possibility in such time I think. My prediction is that when Bitcoin start bull run, it will reach 25k and after that we will see bear market.

[gaston castano]

What do you think of this analysis?
Everything until now (even the recent re-accumulation phase is just as planned). Can the push reach the new highs like 600k? The date says 25. May probably with libra effect included in the growth.

yes we know every halving reward for getting bitcoin will decrease and of course the price will go up, but I don't think it will be that fast, the arrival of libra next year will probably affect it, but it won't be that big.

A pretty good analysis by utilizing history of the previous bitcoin charts. I myself also often use analysis like this when trading, but not always analysis is accurate, as far as I know, it depends on market conditions. Maybe this analysis will be in accordance with the picture if next year market conditions support to return, sometimes it's not appropriate.
So, I also hope that like what is listed in the title of this thread, but I choose to enjoy every reflection. The rest I invest in next few years.

agree with this, I also always see from the previous chart when trading daily, but sometime it wrong, even if i follow step by step,it's all about market conditions.

[mazdafunsun]

There is no mathematical or financial theory that is behind this TA. Why exactly the squares which notes different types of markets have those sizes? No explanation from author.

besides the author indicates that we have long accumulation ahead of us which i highly doubt, the scale just does not add up.

[Oceat]

Crypto move always does not go as per personal analyses. It happens at times to a level. But what you have indicated is beyond the expectation.  I dont think so bitcoin would 600k in an year. Lets be practical though any thing can happen with crypto.

Anyone can make their own personal TA yet OPs TA is just too exaggerated that it defies the logical explanation of the normal technical analysis. And yeah, Bitcoin would reach that price soon but we have to consider the other factors here why it's almost impossible to reach that price within a year. Factors like, market movement, FUDs, news, whales, and a logical reason why it would hit on that certain price within X days.

[Darooghe]

I think market is irrational, and it shows no one really knows. Always there is a gamble on some levels, but anything below $80,000 could be a realistic value. Past performance not being a good model for the future, but If your goal is long-term (HODLing) I'd probably look to buy at this price point just because it seems as close to an equilibrium as possible, not anything else. If your goal is more short term in nature the RSI charts have been pretty good at predicting when to buy or sell. For active trading, make sure you are setting a sell target when you buy. Don't forget the people who are trying to get rich overnight are the ones that lose, and finance rewards the skeptical investor for a reason.

[UsernameBitcoin]

600k is too high. The price will not reach that high because that requires too much money. My prediction is the price will reach 60k. Maybe 600 after a decade.

[sunsilk]

That's high same as the McAfee's prediction. But I won't say that it's impossible but the chance is really that low at this moment. You just gave a chart without any other explanation on why it's possible to happen. The Libra effect isn't enough I guess and you're speculating that much while Libra hasn't yet launch.

Bear Bite in price
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2k?

Dude, you should stop spreading FUD.