hotpassion (OP)
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April 04, 2021, 02:53:52 PM |
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The current BTC price ($58500 on 4th April) is still far away from the peak of this Halving epoch. All the available data points to conservative estimates of $100,000, $200,000 being quite possible and $300,000 being close to the maximum. The 5 following charts are all pointing to this development and the 100x increase from bottom to top in each bull cycle as well. We’ve had a bottom of $3800 in this cycle, so a $380,000 price is the upper limit. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.ibb.co%2FCMc0GxL%2FBTC-price.png&t=665&c=K64jNhKp1tQtEw)
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Bitbtc8
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April 04, 2021, 03:05:27 PM |
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Correct me if I'm wrong, isn't high btc dominance means possible more up trend in price? Right now bitcoin dominance is decreasing and it looks like bitcoin is already done, now it's altcoins time though I'm not 💯 sure, I might be wrong as well
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jackg
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April 04, 2021, 03:19:10 PM |
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I was aiming for about $260k before I dump my coins on the market (I'm not fussed about when that happens though). Correct me if I'm wrong, isn't high btc dominance means possible more up trend in price? Right now bitcoin dominance is decreasing and it looks like bitcoin is already done, now it's altcoins time though I'm not sure, I might be wrong as well
Old investors are mainly diversifying into altcoins, new investors are more likely to only focus on bitcoin. Most people seem to accept than an investment in an altcoin they like means that a bunch of other people will do the same later on and push its price up both in relation to btc and their fiat (if they're trying to grow it). A high alt dominance is normally expected about this time. I think the only time I saw dominance go over 80% was when bitcoin bled down to $2.9k.
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crwth
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April 04, 2021, 04:00:05 PM |
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I think this is a great analysis of the price action with regards to the increase in prices. What I'm curious about this analysis is the time duration it took to get from the lowest low from each of the time periods. - Genesis to 1st
- 1st to 2nd
- 2nd to 3rd
With the following data from above, maybe we can see how much it would take. I know the x-axis is in years but maybe the exact months and probably the date could answer some things as well.
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April 05, 2021, 11:26:55 AM |
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Well, that's based on what has happened in previous cycles, which can serve as a guide but I don't think the Bitcoin price follows a deterministic pattern. Also, as the price goes up, it's going to be harder to get 100x returns from the bottom. Otherwise, in a couple of cycles Bitcoin should be worth hundreds of millions of dollars and there is not that much money in the world (at the moment, but maybe if they keep printing at this rate...).
In short, I see this price range as plausible, but because the situation accompanies it, especially the supply-demand relationship, not because I believe that this cycle has to repeat the previous ones.
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Wexnident
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April 05, 2021, 01:53:16 PM |
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If we compare it side by side then I'd guess we can see a $100k BTC price by the end of the year. Though even if we don't exactly compare it side by side, the general trend of Bitcoin was always an upward trend so I'm guessing we can always assume positive growth in the long term. Well, that's based on what has happened in previous cycles, which can serve as a guide but I don't think the Bitcoin price follows a deterministic pattern. Also, as the price goes up, it's going to be harder to get 100x returns from the bottom. Otherwise, in a couple of cycles Bitcoin should be worth hundreds of millions of dollars and there is not that much money in the world (at the moment, but maybe if they keep printing at this rate...).
In short, I see this price range as plausible, but because the situation accompanies it, especially the supply-demand relationship, not because I believe that this cycle has to repeat the previous ones.
I mean, it isn't like the past results were due to a cycle that repeats, it was still due to the supply-demand relationship as well as other external factors, differing from each cycle. I don't really know why it went up in the first and second, but the third should be quite well known. The past cycles shouldn't be used as a metric for reason as to why it went to said price, but it could be used to see how the price moves generally.
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hotpassion (OP)
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April 05, 2021, 01:56:32 PM |
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Well, that's based on what has happened in previous cycles, which can serve as a guide but I don't think the Bitcoin price follows a deterministic pattern. Also, as the price goes up, it's going to be harder to get 100x returns from the bottom. Otherwise, in a couple of cycles Bitcoin should be worth hundreds of millions of dollars and there is not that much money in the world (at the moment, but maybe if they keep printing at this rate...).
In short, I see this price range as plausible, but because the situation accompanies it, especially the supply-demand relationship, not because I believe that this cycle has to repeat the previous ones.
Yes, I agree each cycle will not be the same and we can't have the 100x from bottom to top on every bull cycle. The scale will be smaller and slowdown by each cycle. I guess the top of this cycle will be about 30x to 50x from bottom (168k to 298k).
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DeathAngel
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April 05, 2021, 02:11:59 PM |
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There are a lot of fractals & price projections, many charts predicting what the top will be during this bull run. Overall consensus seems to be something like $300,000 being a top before we transition into the next bear market.
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thecodebear
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April 05, 2021, 02:20:00 PM |
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More mature/stable market now (see price past two months) cuz of lack of retail FOMO plus gradual institutional buying. Think we won't see a blow-off top and crypto winter. So I think we'll see steady price gains rather than a giant peak. Lot of time left in the year though, so I think we could see $150k around the end of the year.
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masulum
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hmph..
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April 05, 2021, 03:29:25 PM |
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I am not so sure that the prediction of Bitcoin can reach $400K, but for the BTC prediction of $ 100-150K, I think it is still very possible, but if there is no rejection at $ 61K in the next re-test. Indeed, from the pattern given, currently BTC is still at the bottom, however, in my opinion, the current increase needs a little correction.
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HOLD...
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ipanks
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April 05, 2021, 03:35:55 PM |
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Well, that's based on what has happened in previous cycles, which can serve as a guide but I don't think the Bitcoin price follows a deterministic pattern. Also, as the price goes up, it's going to be harder to get 100x returns from the bottom. Otherwise, in a couple of cycles Bitcoin should be worth hundreds of millions of dollars and there is not that much money in the world (at the moment, but maybe if they keep printing at this rate...).
In short, I see this price range as plausible, but because the situation accompanies it, especially the supply-demand relationship, not because I believe that this cycle has to repeat the previous ones.
Yes, I agree each cycle will not be the same and we can't have the 100x from bottom to top on every bull cycle. The scale will be smaller and slowdown by each cycle. I guess the top of this cycle will be about 30x to 50x from bottom (168k to 298k). That will be enough for us if the price can rise by about 30x to 50x because that means we can see the price reaches $160k-$300k in the future. But I am not sure if the price can hit that highest price this month because bitcoin needs big support from now on while the price is still below $65k. Maybe that can happen in the next year and I think we still have much time to see the price will hit the highest price later.
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Becky666
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April 05, 2021, 03:48:53 PM |
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Can there be a vacuum pump?, correctly looking at the general market them one can say Bitcoin dominance has went down and the altcoin season is about to cripple into action when this action happen then bitcoin price will be affected. Am not saying that bitcoin price won't rise but expecting something big in such situations will be negative, so, let us get the $80k+ before aiming at a bigger price. We have seen how hard it is to bitcoin to brake the $60k+
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Gozie51
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April 05, 2021, 04:21:35 PM |
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Correct me if I'm wrong, isn't high btc dominance means possible more up trend in price? Right now bitcoin dominance is decreasing and it looks like bitcoin is already done, now it's altcoins time though I'm not 💯 sure, I might be wrong as well
Bitcoin isn't done. You will get surprised the current down is going to be a correction. It is still looking the bullish way from the way I'm seeing price movement. The dominance in percentage is going to reduce as etheruem is moving to balance comfortably at $2,000.
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sunsilk
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April 05, 2021, 04:39:58 PM |
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Correct me if I'm wrong, isn't high btc dominance means possible more up trend in price? Right now bitcoin dominance is decreasing and it looks like bitcoin is already done
Looking at the dominance while the price shows it's at the peak and having a thought that it's already done is inappropriate imo. now it's altcoins time though I'm not 💯 sure, I might be wrong as well
If it's not for bitcoin's bullishness, most of those alts won't be at the place where they are right now. Bitcoin's not done and it will never be done. You see that whenever goes bullish, alts are bullish too. And whenever bitcoin corrects, the alts are suffering more from the correction.
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The Cryptovator
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April 05, 2021, 04:43:13 PM |
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The speculation will never end. If we expect that Bitcoin should just continue uptrend then most probably we are wrong. Bitcoin has created a new ATH this year which is above $60K. If you look deeper then the reason you will discover the current price is institutional investors. If we can't see more big institutional investors in Bitcoin then most probably we have to see a big correction at the end of the year. But in the meantime, if we see more instinctual investment in Bitcoin then simply price would push to above $100K. As I am always saying that anything could happen in crypto that we aren't expecting anyway.
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April 05, 2021, 04:47:59 PM |
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Nice index. I forgot that we did have the having last year so this means the rally is just in the first phase. However, history may and may not repeat itself. The more it repeats, the higher the failure in the next cycle may be. But I don't hesitate. The risk is way too far from the reward. 1 dollar risk for 10 dollar reward is affordable. With the increase of bitcoin, altcoins will be the most gainers and it will be wise to invest in some prospective NFT. Where is my salary up to now? The speculation will never end. If we expect that Bitcoin should just continue uptrend then most probably we are wrong. Bitcoin has created a new ATH this year which is above $60K. If you look deeper then the reason you will discover the current price is institutional investors. If we can't see more big institutional investors in Bitcoin then most probably we have to see a big correction at the end of the year. But in the meantime, if we see more instinctual investment in Bitcoin then simply price would push to above $100K. As I am always saying that anything could happen in crypto that we aren't expecting anyway.
You should look at this: https://en.wikipedia.org/wiki/Self-fulfilling_prophecy - one of the famous term in trading and investing Bitcoin was once predicted to increase to $10000 in 2016 but then it jumped straight to $20000 decisively
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Fortify
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April 05, 2021, 04:55:54 PM |
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I don't know how accurate that graph is and you cannot always rely on previous historical trends, but it certainly makes for interesting viewing. That being said, the price of bitcoin was much lower in previous cycles and it took a lot less money in circulation to create those spikes we see. It's much easier to move market caps when they are 10 billion than when they are 2 trillion. While there is a lot of institutional money coming in and it's quite possible to double from the current price, you might be waiting quite some time longer than 4 years before it reaches that $500,000 marker.
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skarais
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Activity: 2590
Merit: 2155
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 05, 2021, 05:30:44 PM |
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I am not so sure that the prediction of Bitcoin can reach $400K, but for the BTC prediction of $ 100-150K, I think it is still very possible, but if there is no rejection at $ 61K in the next re-test. Indeed, from the pattern given, currently BTC is still at the bottom, however, in my opinion, the current increase needs a little correction.
I know there are many people who continue to observe bitcoin price movement from year to year. This has served as a foundation for those who believe in the potential that bitcoin can achieve. There is no doubt that now price are far from what we can imagine after the last ATH in 2017. The cycle on the chart should not be considered as something that happen by chance because we know the price will continue to be in touch with the supply and demand in the market. Institutional investor have entered this space more than we know, bitcoin has become a hedge for their company and maybe the chart will be much different in the next few years. If we stick to the picture on the OP, then we should expect that $400K will come true.
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sana54210
Legendary
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Activity: 3262
Merit: 1128
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April 05, 2021, 07:19:27 PM |
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The current BTC price ($58500 on 4th April) is still far away from the peak of this Halving epoch. All the available data points to conservative estimates of $100,000, $200,000 being quite possible and $300,000 being close to the maximum. The 5 following charts are all pointing to this development and the 100x increase from bottom to top in each bull cycle as well. We’ve had a bottom of $3800 in this cycle, so a $380,000 price is the upper limit. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.ibb.co%2FCMc0GxL%2FBTC-price.png&t=665&c=K64jNhKp1tQtEw) Do not consider the same amount of increase will happen in every single halving. Think about it this way, going from 1 dollar to 2 dollar was easy because it required less money, going from 100k to 200k would be incredibly hard because it requires maybe over a hundred billion dollars in bitcoin purchase that doesn't instantly go on sell block when it goes up. This is why same can't happen after every single halving, yeah sure last time it may have reached from few hundreds to 20k in a year, but that doesn't mean same type of increase could happen now, from 10k to 300k is 30x and I think that is not impossible but it is incredibly hard, so we should keep our expectations to a minimum. I do not know if it can or can't but I am going to act as if it can't and will hold anyway but without the hopes for something like that, because when you hope for those and doesn't happen that's a very sad feeling.
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TravelMug
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April 09, 2021, 12:12:35 AM |
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Correct me if I'm wrong, isn't high btc dominance means possible more up trend in price? Right now bitcoin dominance is decreasing and it looks like bitcoin is already done, now it's altcoins time though I'm not 💯 sure, I might be wrong as well
It's just the question on how the altcoin market will dump, because for sure they will and what will be there next best option? bitcoin.
I think I've seen this, for those who wanted to see more charts, follow this twitter account, https://twitter.com/ChartsBtcObviously we are not even half of this current bull run, and I'm still optimistic that we can still grow in the six digits but it's kind slow not the exponential growth we have seen in the last 6 months or so.
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