We are finally going to $22k

[teosanru]

Searching across the web. A very interesting Chart has come to my notice. I don't know who has analyzed but it says a lot about the story of bitcoin so far in a very large time frame.




The thing is on one side it is hard to digest this as we have seen a long bear phase and a lot of fake ICOs shit which has almost lifted the trust of people from this cryptocurrency market as whole. However, this analysis couldn't completely be neglected because we all know 0.5 retracements hold a pretty sacred place in every Technical Analysis. Maybe the waves don't count up it can be a correction downwards. But the whole trend line is still.

Disclaimer: This chart is shrinked a little bit to prove the point if you go to trading view you won't find a chart exactly like this one but the highs and lows are all correct. Better see a logarithmic chart for better similarity.

[Oilacris]

Yeah, charts are really good looking to watch specially for bullish sentiments and yes patterns do give us  out some ideas to project on where

the price can possibly shoot up ahead of time but the question is, would the history repeat itself? No one can answer that but we can presume out those things
but we shouldn't expect too much but since halving is still on next year, we do still have that sufficient time.

[Pearls Before Swine]

The thing is on one side it is hard to digest this as we have seen a long bear phase and a lot of fake ICOs shit which has almost lifted the trust of people from this cryptocurrency market as whole.

I dont think the various ICO scams have really had an effect on the price or perception of bitcoin.  Those people who have gotten scammed by ICOs basically know bitcoin is safe.  Their misfortune was to gamble on extremely risky ventures.

Dont know about that chart but there is no doubt in my mind that bitcoin will eventually reach $22k and beyond.  The last dip we had was merely a hiccup in a trend that is overall upward in my opinion.  Only question in my head is when its going to get there.  I have my hopes up for sometime next year.

the question is, would the history repeat itself?

I think it will but it doesn't necessarily have to.  Enthusiasm for bitcoin will shoot up again after the weak hands have been shaken out of the market.  Those are the ones who caused the price to slide to below $8000.

[bittraffic]

Looking at the chart as a whole we aren't after all experiencing bear market but just dipping just for 2-3 years and will probably go on rising again.  I don't just dream of 22K though, I'm hoping for more. probably double it to 40K until the message to all the people in the world will be seen that we're in the age of digital currencies.

[Kelvinid]

Are we excited to see that? It probably yes, but the market seems to be in the hard ways to soar high at this time. We are still not leaving at $10k and $22k is very far enough to reach, it somehow to think it within 1-2years or it is just a dream.
How it was optimistic but the market reality seems not looking that great. If Bitcoin price may pump but not actually it will go far, and $15k is much achievable.

[Hippocrypto]

Are we excited to see that? It probably yes, but the market seems to be in the hard ways to soar high at this time. We are still not leaving at $10k and $22k is very far enough to reach, it somehow to think it within 1-2years or it is just a dream.
How it was optimistic but the market reality seems not looking that great. If Bitcoin price may pump but not actually it will go far, and $15k is much achievable.

Of course all of us have the desires to see it in the near future mate and since bitcoin is definitely building strong momentum while recovery is on its way, self control is very important. The fluctuations might be provoking, and there could be some factors that could trigger fears on some traders whose not skilled enough.

[figmentofmyass]

we're going way further than $22k next time around IMO. i'm betting on 6 figures.

Looking at the chart as a whole we aren't after all experiencing bear market but just dipping just for 2-3 years and will probably go on rising again.

i don't think that's what the chartist is saying. he's comparing the current period to early 2012 or 2016, which suggests we'll slowly uptrend through the 2020 halving and then price will go parabolic the following year. then maybe we'll get a 2-3 year dip.

[Oasisman]

we're going way further than $22k next time around IMO. i'm betting on 6 figures.

Looking at the chart as a whole we aren't after all experiencing bear market but just dipping just for 2-3 years and will probably go on rising again.

i don't think that's what the chartist is saying. he's comparing the current period to early 2012 or 2016, which suggests we'll slowly uptrend through the 2020 halving and then price will go parabolic the following year. then maybe we'll get a 2-3 year dip.

I think thats the same speculative discussions before, like every 3 years the Bitcoin price will hit the ATH and then followed by a bearish run for about 2-3 year.
Last ATH was 2017, so 2020 will be the 3rd year after the unprecedented ATH.

[harizen]

Too much being optimistic might wrecked you.

Take those positive speculations or predictions based on charts as "reference" only.

As I said before, the chart will tell you some of "possible" outcomes in the future depending on the given factors, not it will tell you the exact thing to happen in a given timeframe.

I like to see a $20,000 level too, who else doesn't want it? It's just that it's not healthy to expect it too much. Just allow the process to move forward.

[OgNasty]

There's no rush to break to a new high, but when we do it will be seatbelts on.

[Kencha77]

I have seen this chart in many youtube videos already and what I can say is it is very possible but it will take a long time for this to happen. Most like it will happen in the next Bitcoin halving which will happen on 2020. Bitcoin going to $22k is possible but don't expect that it will happen in a very short time. It will take time more likely 1-2 years or 3. Just hold Bitcoin.

[teosanru]

The thing is on one side it is hard to digest this as we have seen a long bear phase and a lot of fake ICOs shit which has almost lifted the trust of people from this cryptocurrency market as whole.

I dont think the various ICO scams have really had an effect on the price or perception of bitcoin.  Those people who have gotten scammed by ICOs basically know bitcoin is safe.  Their misfortune was to gamble on extremely risky ventures.

Dont know about that chart but there is no doubt in my mind that bitcoin will eventually reach $22k and beyond.  The last dip we had was merely a hiccup in a trend that is overall upward in my opinion.  Only question in my head is when its going to get there.  I have my hopes up for sometime next year.

the question is, would the history repeat itself?

I think it will but it doesn't necessarily have to.  Enthusiasm for bitcoin will shoot up again after the weak hands have been shaken out of the market.  Those are the ones who caused the price to slide to below $8000.

Actually the thing is market works on the basis of investor's confidence. After the ICO scams the common folks realized that cryptocurrencies are risky shit and not all of them will go up. Moreover this thing has also created clouds of doubts around the utility of cryptocurrency in first place. Moreover the thing is that without government backing investors are still not going to gain confidence regarding this.

Are we excited to see that? It probably yes, but the market seems to be in the hard ways to soar high at this time. We are still not leaving at $10k and $22k is very far enough to reach, it somehow to think it within 1-2years or it is just a dream.
How it was optimistic but the market reality seems not looking that great. If Bitcoin price may pump but not actually it will go far, and $15k is much achievable.

I would have agreed with you if this was any other market but in the btc market we have evidenced such exponential growth in a short period of time once before. Even in 2017 no one would have ever thought that BTC would go to 20k from 5k in matter of just a couple of months. Moreover no one thought market would fall from 19k to 3k again. But this is how crypto market works. These things do happen.

[xamxam]

The way I look at it, I hope it will continue to take off. Because, I know there are lot of people like me who hold Bitcoin and bought it during the time it dropped at a low price in the market. But I guess it is not good to expect high on this illustration chart, Because no one knows what really could be the price is, due to market was very unpredictable. So, lets see what will happen in the next day

[jmigdlc99]

Yeah i've been seeing this chart recently, well not exactly this chart, but different spins off of it. I take this as a good indicator that the hype is building up and could probably cause or fortunes to rise along with it. Charts are always a reliable way of convincing simple minded people.

Just hodl and be patient, we're almost there!

[Gozie51]

It is a video showing the very long time bull of bitcoin. I think that can start happening from next year. Hodling bitcoin now is the best plan now. In 2020 when halving come, we could witness high volatility.

[ChrisPop]

Interesting take and I agree that the halvening has major effects on Bitcoin miners that directly or indirectly affect the Bitcoin price. However you know the saying: "it works until it doesn't" - so the fact that Bitcoin had positive effects from halvenings doesn't mean that it will happen again in the future. It is just a higher probability for that to happen. Why $22k though? Through my analysis I think Bitcoin price will skyrocket much higher if we break the $20k mark.

[pieppiep]

The chart is very tempting us to wait for more and we are willing to buy more bitcoin because, in the next year, we can expect to see bitcoin price will be at the very highest price. But unfortunately, we don't even know when precisely that chart will come true, and we could only wait, wait, and wait. But I believe that what we expect will give us some big profit by holding bitcoin and we can get the rewards when the bull market comes soon. I see that it seems, the market is still trying to push the price into a higher rate, so I guess this month, we are going to see some surprise from the market.

[teosanru]

The chart is very tempting us to wait for more and we are willing to buy more bitcoin because, in the next year, we can expect to see bitcoin price will be at the very highest price. But unfortunately, we don't even know when precisely that chart will come true, and we could only wait, wait, and wait. But I believe that what we expect will give us some big profit by holding bitcoin and we can get the rewards when the bull market comes soon. I see that it seems, the market is still trying to push the price into a higher rate, so I guess this month, we are going to see some surprise from the market.

No one can predict the future blindly. But this is how TA works. It's a practice in which we study the past to get an idea about the future because we work on the basic assumption that history repeats itself. So if I am saying that we could go to 22K it's merely because I am seeing a pattern of history repeating itself and nothing else.

Interesting take and I agree that the halvening has major effects on Bitcoin miners that directly or indirectly affect the Bitcoin price. However you know the saying: "it works until it doesn't" - so the fact that Bitcoin had positive effects from halvenings doesn't mean that it will happen again in the future. It is just a higher probability for that to happen. Why $22k though? Through my analysis I think Bitcoin price will skyrocket much higher if we break the $20k mark.

Obviously TA is a game of probabilities you just need to get them in your favour by having a look at different dynamics of the market. The margin of error and external dynamics always affect your analysis. So when I say it would go. I am saying it's highly probable.

[romero121]

There's no rush to break to a new high, but when we do it will be seatbelts on.

Surely there is a forward push, but there is nothing for a rush. The growth will take place in a gradual manner. Right now we've been experiencing the growth to be staggering between $8000-$8500. This way the growth of bitcoin will happen in a very slow phase, possibly the market gets the growth reaching a new ath by the days of halving or by the starting of the year 2020.

[MonsterV]

I found a discussion about this a few days ago and in my opinion this could have happened, but it would take more than 2 years for bitcoin to rise. Not only that, seeing the lack of investor interest due to many scam it is possible to reach such prices will be difficult compared to 2017 which is still popular ICO.

We need a new miracle that can bring investor interest back into crypto like 2017, but I don't know what that is. But I hope in next 2 years there is something new.