[2020-01-25] Can Bitcoin Price Hit $424,000 Sometime in Late 2021?

[Real_Person]

Can Bitcoin Price Hit $424,000 Sometime in Late 2021?

Based on historical data, when the 20MA is acting as support for BTC price, Bitcoin has tended to be in an extended bull market. Conversely, the times that 20MA has acted as resistance against the upward movement in Bitcoin price, have been during bear markets....

...Gains in the last cycle were around 5,000% and occurred 97 weeks after the 20MA first held as support. Mimicking this exactly gives a bitcoin price of $424k, happening sometime in November 2021.
...


...He also thinks that the market cycles are lengthening. Specifically that the time between the halving and the peak has been getting longer.

After the first halving, the peak came after around 52 weeks. However, after the second halving, this period increased to 73 weeks. Cowen, therefore, suggests that the peak following this year’s halving may take longer still, with a potential peak not occurring until 2022.

Still, that would give us a $125k Bitcoin price sometime in early 2022, which is certainly not to be sniffed at… if we can stay above the 20MA as support.

https://bitcoinist.com/can-bitcoin-price-hit-usd-424000-in-2021/

[HabBear]

These articles are always so interesting, inspiring. The prospect of a lucrative future! How could anyone want to deny it. And the moving averages and the technical analysis makes such good fact to support the theories.

Here's the rub...

• These predictions pop up every year, especially with a halving on the horizon, yet they never come true
• Moving averages and technical analysis is less and less reliable the greater the length of the look back, i.e., the last week of price is a better predictor of the next week of price than the last 20 weeks moving average will predict the next 20 weeks of moving average

It's fun to talk about. Certainly hodl on. Just don't get your hopes up. When $424k is in our sights, we'll be sitting at $400k....not $10k.

[Slow death]

Can Bitcoin Price Hit $424,000 Sometime in Late 2021?

This is impossible, these guys keep making these senseless forecasts every time the price increases a lot, until two months ago they were hiding because the price was falling a lot, the point of some of them talked about the possibility of reaching the prices $3000. Now that the price is at $8300 they are diverging in forecasts. one hour they talk about the price increase, hours later they change and talk about a big drop coming.

[bitcampaign]

a lot of people's expectations about 2021 that the price of bitcoin will take the highest price and reach ATH in the next year, but back to all those who hold bitcoin now, do they only hold it, give a little time to introduce bitcoin to people around you, at least it can help bitcoin and the crypto market continue to grow into large also bring in a lot of adoptions that will make value big in the future, don't expect prices to touch $ 400k if this method is not done from now on

[Images21]

While I believe Bitcoin is still the wild wild west until now, I don't think it is possible for its price to climb as high as that next year. I don't even believe that Bitcoin will reach $100,000 3 years from now.

[bassbity]

a lot of people's expectations about 2021 that the price of bitcoin will take the highest price and reach ATH in the next year, but back to all those who hold bitcoin now, do they only hold it, give a little time to introduce bitcoin to people around you, at least it can help bitcoin and the crypto market continue to grow into large also bring in a lot of adoptions that will make value big in the future, don't expect prices to touch $ 400k if this method is not done from now on

From now on many people have introduced bitcoin to the public so that they know more about the benefits of investing in this coin especially by talking about the increase in the following year, this year too many have predicted prices before halving occurs.
2021 will be a good year where we will see the growth of bitcoin more rapidly throughout the world.

[Eternad]

There should be more legit basis. The market is too volatile to do and many still doubts in it's use and adoption. The price always struggling to reach a new level to break. The resistance still hard to break there is a need for a more pushy process that will make the adoption happen. These will not consider as cycle since its changing m in different aspects.

[davis196]

In 2017,many people were expecting a bitcoin price above 100K USD  in 2018 and around 1M USD at 2019 or 2020.
They were justifying their predictions with technical and fundamental analysis.Did it happen?Nope.
Nowadays,I read such bullish articles for a good laugh and I just move on.It's sad if some people actually believe this BS.The author of the analysis should get a real job and stop wasting his time.

[Wexnident]

That's the point. IF and only IF Bitcoin could stay above the 20MA support. And honestly speaking, it really looks impossible. Even if we compare it to how BTC has moved in the past, it still seems close to impossible. Just from the fact that the situation then and now are different, especially with the amount of attention BTC has right now, it making to above $100k by the end of the year seems closer to a dream instead of a reality.

In 2017,many people were expecting a bitcoin price above 100K USD  in 2018 and around 1M USD at 2019 or 2020.
They were justifying their predictions with technical and fundamental analysis.Did it happen?Nope.
Nowadays,I read such bullish articles for a good laugh and I just move on.It's sad if some people actually believe this BS.The author of the analysis should get a real job and stop wasting his time.

I guess they got ahead of themselves because of how the bubble of 2017 happened. With that happening, I'd guess anyone would believe that BTC would turn into bullish for a long run.

[Viscore]

Another ridiculous forecast, but who are we to judge such prediction when bitcoin has reach at this level from almost nothing in value?
Maybe I would say that the prediction is quite unrealistic but it could happen, provided the hype is on and the FOMO is going for quite a long period.

At one look, it could be impossible but if bitcoin starts pumping this year and we end up $100K, and will continue in 2021, things will likely to happen.

So, here we go with the interesting part. let's compute.
let's say I invested $1,000 at the current price now, which means I would get 0.1185 per http://preev.com/, so if the price hits $424,000, I would turn my money to $50,244 and that is x50 increase. looks possible now? yes. because Bitcoin increased x1000 in the past.

[palle11]

2021 is just 12 months time and price is still below $9,000. I don't know how that will fly to $424,000. This time is very close for me to speculate as this high .

[killerfrost]

In 2017,many people were expecting a bitcoin price above 100K USD  in 2018 and around 1M USD at 2019 or 2020.
They were justifying their predictions with technical and fundamental analysis.Did it happen?Nope.
Nowadays,I read such bullish articles for a good laugh and I just move on.It's sad if some people actually believe this BS.The author of the analysis should get a real job and stop wasting his time.

It's his job, he makes analytics to attract followers and he can be famous in this market. I used to know a lot of people in my country, they made bullshit analyzes but there were so many followers. He then encouraged many people to buy shitcoin and he made a lot of profits from it. Btw I believe that the price of bitcoin will never go up to $ 424,000, which is a price that's too high for the true value of bitcoin.

[msarro]

Since 2017 the community is waiting for bitcoin to reach its ATH but no success and we have speculations that bitcoin is going to cross 400k$. I don't think bitcoin is going to cross 400k$ without reaching its ATH of 19k$.

[bitcampaign]

a lot of people's expectations about 2021 that the price of bitcoin will take the highest price and reach ATH in the next year, but back to all those who hold bitcoin now, do they only hold it, give a little time to introduce bitcoin to people around you, at least it can help bitcoin and the crypto market continue to grow into large also bring in a lot of adoptions that will make value big in the future, don't expect prices to touch $ 400k if this method is not done from now on

From now on many people have introduced bitcoin to the public so that they know more about the benefits of investing in this coin especially by talking about the increase in the following year, this year too many have predicted prices before halving occurs.
2021 will be a good year where we will see the growth of bitcoin more rapidly throughout the world.

yes that's what is expected and not just making speculations, making hopes will not help to make an impact on the price of bitcoin, start now campaigning about bitcoin and analysis for next year to people out there, I also invite some people at my workplace to learn about bitcoin and blockchain technology, introducing how it works and it will be very helpful to push new people into the crypto world

[Latviand]

a lot of people's expectations about 2021 that the price of bitcoin will take the highest price and reach ATH in the next year, but back to all those who hold bitcoin now, do they only hold it, give a little time to introduce bitcoin to people around you, at least it can help bitcoin and the crypto market continue to grow into large also bring in a lot of adoptions that will make value big in the future, don't expect prices to touch $ 400k if this method is not done from now on

From now on many people have introduced bitcoin to the public so that they know more about the benefits of investing in this coin especially by talking about the increase in the following year, this year too many have predicted prices before halving occurs.
2021 will be a good year where we will see the growth of bitcoin more rapidly throughout the world.

yes that's what is expected and not just making speculations, making hopes will not help to make an impact on the price of bitcoin, start now campaigning about bitcoin and analysis for next year to people out there, I also invite some people at my workplace to learn about bitcoin and blockchain technology, introducing how it works and it will be very helpful to push new people into the crypto world

The point here is that, these people who are making unrealistic assumptions of how high the market value of Bitcoin would reach in the future, are just pushing many people to invest with hopes of earning huge profit someday. But this is totally wrong, many people are being carried away to much, but also, since the market value is volatile, they are becoming disappointed whenever the market value is dipping. Many people are losing huge money because they don't know the 'game' in this industry.

[iamaruf]

Can Bitcoin Price Hit $424,000 Sometime in Late 2021?

This is just an imagination.even its hard to reach 100k$ in 2021 but talking about 400k$+. Don’t think so high in short time.I am not telling that bitcoin can't cross 400k$ but it will take long time like 20+years from now or more.Why people are predicting so high and hoping that it will be.       

[Darooghe]

We have people saying Crypto and blockchain is the best thing that happened in the last decade. Others say the value in it is biased and therefore it must be a bubble. There is only one truth here, nobody can say for sure, but it appears more and more everyday that not only blockchain but also cryptocurrency have a strong place in the market. I see a bright future for Bitcoin and cryptocurrency as a whole. I think 400,000 USD is far from expected for 2021 but Bitcoin can cross 500,000 US dollars easily in this decade, Because might be the 3rd halvening is already priced in, but I am sure the 4th and 5th isn't priced in yet.

[Tduty]

No, there is no chance! Bitcoin has the potential to reach that high price but if you follow the reality then you will realize it is just impossible for Bitcoin to go for 424K! I think Bitcoin won't go that high ever, lots of obstacles will come if Bitcoin cross even 50K USD! Last time BTC's 20k USD did not even last for 15 days! Then the huge dumping started and bear run started, so how can you expect that high within one year? No way!

[sana54210]

There are so many different approaches in the OP's message that I am not sure which one to tackle or discuss. First of all I don't get what people don't understand about the required capital to increase prices in % changes whenever the price is higher. Moving from 1 dollar to 2 dollar was a 100% increase and yet it was much much simpler and required a lot less money versus moving price from 8600 dollars to 8700 dollars. Sure, now we have more people and more money involved but that doesn't mean that price will go as easily as it used to be.

424k is therefore impossible to happen that fast, and maybe not at all because it would require literally a whole stock market worth of money going into bitcoin in the next 2 years, that is not something that will happen at all.

[Febo]

Can Bitcoin Price Hit $424,000 Sometime in Late 2021?

Hard. $424.000 is a bit to high. I would be more then happy if price goes over $200.000. IT is high possibility that will not be the case.But of course is possible it can go over 400k, but very very low.