Next stop $85K for Bitcoin

[Ultegra134]

I've seen those so-called forecasts claiming Bitcoin surpassing $100.000 within 2021, which is highly unlikely, however, $85.000 doesn't sound plausible enough for me either. We're less than 3 months from 2022, Bitcoin still hasn't reached its previous ATH or even got anywhere close to that, of approximately $65.000. From my point of view, it'll be a blessing if we even reach that record within the year.

Bitcoin did rally like crazy since the end of last year, from less than 10K to 60+, so 85 might not sound like a far cry.

Still, if it ever reaches that level, I'd sell and buy some nice stuffs for myself

Okay I get what you're saying but, Bitcoin has already seen some massive growth, how likely is it to expect a rally of similar growth, just because it happened last year? I believe that it has advanced way too fast, and it's highly unlikely that we'll see it within this year.

I really hope to be proved wrong, but I just don't see it happening anytime soon.

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[Kittygalore]

we have to have our own stand, we don't easily believe every post, because not all posts circulating are accurate, sometimes they just want to seek sensation, I am aware of the risks in bitcoin, but I am ready for any risks that occur, even though some say the price will fall to zero, but I stay on my stance..

Well, OP's just sharing his/her own forecast in prices, you don't actually believe that because that's the stupidest thing that you can do, of course it's common sense that you shouldn't believe what you see in the Internet, people don't need to be reminded, it helps filter out people that's going to be successful in crypto.

[verita1]

At this point I am no longer waiting for bitcoin to increase in price. Instead I want bitcoin to gain more market dominance. At this moment bitcoin owns 40.5%, we all want the price of bitcoin to skyrocket more.

Instead, I would like more countries to introduce it into their economies to resume those sectors that need them most to reduce the impact of poverty.

It is my humble opinion. What do we do being rich and we see poverty around us?
I believe that God's timing is perfect and bitcoin is an ally that we need around the world.

[Kanjeung]

no one can predict that the bitcoin price will reach $85k or even drop, it is true that on-chain activity or the latest news about bitcoin can affect the price, but it is never certain where the bitcoin price will be. as far as I know, in 2017 the price of bitcoin rose when the Chinese people bought bitcoins worth tens or even hundreds of millions, everyone flocked to buy bitcoins, and bitcoin prices jumped high. and this year, the bitcoin price went up due to a tweet by Elon Musk on his twitter, and he said that Tesla company opened payments with bitcoin, and as a result everyone including Elon Musk's followers bought bitcoins. it happened the price of bitcoin to go up, but we never know to what point the price of bitcoin will stop.

[UserU]

Okay I get what you're saying but, Bitcoin has already seen some massive growth, how likely is it to expect a rally of similar growth, just because it happened last year? I believe that it has advanced way too fast, and it's highly unlikely that we'll see it within this year.

I really hope to be proved wrong, but I just don't see it happening anytime soon.

You got a point. Fast growth can also mean fast corrections as well.

But we'll see how things go along especially once the supply further diminishes.

[Rahman11]

I think everything is possible to more rising up about bitcoin but in Q4 of 2021 it’s something unexpected to reching 85k$, i think it’s just a prediction nothing more.

[BivxiuDavi]

Bitcoin's next stop is at $85,000 This is also just a forecast no one can confirm Bitcoin's price performance has been catching up with network fundamentals and on-chain data for a while. With growing popularity, the increasing demand for computing power could also increase the value of Bitcoin. With that said, the number of Bitcoins is limited. With a steady supply, increased demand could end up with a Bitcoin price increase. There are also other factors worth considering. For example, if geopolitical tensions increase or traders lose confidence in traditional currencies, Bitcoin could appreciate. Cryptocurrency is a new and revolutionary product, so it is very likely that the factors affecting its value will change over time. So, with bullish signals in the near future, Bitcoin will not only stop at 85,000 USD but maybe 100,000 USD......even more. But the issue I care more about. That is the practical value Bitcoin brings to our lives. Bitcoin application in the fields of: Economy, politics, national security....

[Rana590]

It's just a speculation but in real life, I don't think Bitcoin will be able to cross $85k in this year. It has great potential but it may touch $80k in next year. We are far away from $85k at this time. Bitcoin may reach a new ATH but needs more time to touch this milestone.

[ahnaf28]

No one can predict the digital market price. Bitcoin has a huge potential to go more than $85K. But seeing nowadays Bitcoin Updown, i am not sure that Bitcoin can cross $85K this year. I need more time. Again, if you are a user of Bitcoin from the begining,  you should know about the story of Bitcoin From 2017. At that tine, everyone predicted that bitcoin will reach $50K that year but Bitcoin showed us that none can predict that and it went so down that it need more than 1 year to get back in the track

[marine4u]

because for me this is hard to believe lol since the value cannot even touch 55k since several months ago.

The fact that we're getting better after establishing 46k specific resistance and rallying to 48k, this move still shows a level of optimism for a bull cycle extending above the 55k region back. This is still impressive for September, because bitcoin has never had more of an expectation point in the past than this month. In my opinion this is the point to consider and allow the 46k - 56k zone move to widen.

[wxa7115]

$85K seems like a likely goal. $100k is too optimistic for the end of the year.

I am not so sure I agree with it, there is not such a big difference between 85k and 100k, if at that point we see people getting excited about the possibility of bitcoin reaching 6 figures then it will happen as the markets not only move based on logic, if anything the markets move based on emotion and if extreme greed takes place then 100k at the end of the year could end up being a conservative estimate.

After all a great deal of the news we have seen during this year are positive and if other countries begin to follow the steps El Salvador has taken then this could be the beginning of a bull market that could last for several years.

[XCANA]

Market price speculators are out again to great Fud as they are used to. It seems as the $100k that was initially speculated didn't come to fulfilment and there is no hope of it coming pass the only option is now to reduce it to a current $85k. If you are new in the system here please not the market analysis here you can take to the bank.

[cryptomaniac_xxx]

More so, there are many more on-chain data pointing towards these Bull market highs from the latest data analysis that was collected by on-chain analytics firm Glassnode this week.

There is basically no method that "on-chain data" could be used to speculate about price. There is obviously a connection between both bull and bear trends with the on-chain activity but there is absolutely no way we can use the on-chain activity to predict WHERE the coins are going and WHY.
Glassnde is the only entity that has been trying so hard to invent such a connection.

Thank you for validating my assumptions, it's good that Glassnode has a lot of statistics regarding bitcoin and the whole crypto market, but sometimes I find it hard to read those data, it seems that they are just connecting some dots to come up with a conclusion favorable to the market sentiments. But let's see, if the market goes on a super fast rally to $85k then good, but it doesn't mean that it's all because of "on-chain data".

[Jating]

Market price speculators are out again to great Fud as they are used to. It seems as the $100k that was initially speculated didn't come to fulfilment and there is no hope of it coming pass the only option is now to reduce it to a current $85k. If you are new in the system here please not the market analysis here you can take to the bank.

I don't think this is FUD, they are basing their prediction or at least Glassnode on the data they gathered and plot a pattern. A FUD is like predicting the market to go down, not to up to $85k from the current base price. $100k is the initial prediction because that's what other data has pointed out early, but since we are about to end the year, there has been a lot of changes, that haven't been taken into account, like the fall from $64k to $29k. So prediction changes as this is not exact.

[samcrypto]

Market price speculators are out again to great Fud as they are used to. It seems as the $100k that was initially speculated didn't come to fulfilment and there is no hope of it coming pass the only option is now to reduce it to a current $85k. If you are new in the system here please not the market analysis here you can take to the bank.

Many still hoping for $100k this year, they might failed because there’s no guarantee on that same thing with $85k even if you present so many chart analysis we can’t still tell confidently that Bitcoin can hit that price. Yes, this have been the scenario since then where everyone is making high prediction just to create hype and fomo, the price usually reacts on this.

[XCANA]

Market price speculators are out again to great Fud as they are used to. It seems as the $100k that was initially speculated didn't come to fulfilment and there is no hope of it coming pass the only option is now to reduce it to a current $85k. If you are new in the system here please not the market analysis here you can take to the bank.

I don't think this is FUD, they are basing their prediction or at least Glassnode on the data they gathered and plot a pattern. A FUD is like predicting the market to go down, not to up to $85k from the current base price. $100k is the initial prediction because that's what other data has pointed out early, but since we are about to end the year, there has been a lot of changes, that haven't been taken into account, like the fall from $64k to $29k. So prediction changes as this is not exact.

That is to your own understanding I must say. If they have data that predicted $100k in the first place why now the same acclaimed data is used to predict $85k, is it that something is wrong with data? Some school of speculators are speculating $200k with same acclaim data and others are saying $85k is that not FUD? Our mind is already set on $200k lol.

Please go through this first reply to the OP

More so, there are many more on-chain data pointing towards these Bull market highs from the latest data analysis that was collected by on-chain analytics firm Glassnode this week.

There is basically no method that "on-chain data" could be used to speculate about price. There is obviously a connection between both bull and bear trends with the on-chain activity but there is absolutely no way we can use the on-chain activity to predict WHERE the coins are going and WHY.
Glassnde is the only entity that has been trying so hard to invent such a connection.

[Kemarit]

because for me this is hard to believe lol since the value cannot even touch 55k since several months ago.

The fact that we're getting better after establishing 46k specific resistance and rallying to 48k, this move still shows a level of optimism for a bull cycle extending above the 55k region back. This is still impressive for September, because bitcoin has never had more of an expectation point in the past than this month. In my opinion this is the point to consider and allow the 46k - 56k zone move to widen.

I think next stop should be $60,000 first. And then we can talk about another new all time high this year, maybe $85,000-$100,000. We are still in the bullish cycle, the confident of the investors and traders are still high despite the recent flash crash.

Yeah, September seems to be a very bad month as others have said based on it's past performance. But if we can get to $50,000++ at least then it is already a victory and the pattern has flip for the better.

[boyptc]

It's always like this. When we've reached $60k onwards then the next stop should be $70k, and then next stop is $80k and so on.

Whatever data they present, it's all just about the present and past and the future is always unpredictable.

[Slow death]

I think the price forecast is not exaggerated given that we are at $48000. but to think about this forecast we still need to break $52500 and then break the old ATH and have buying strength until reaching 85K, for that we need much more demand, if there are more countries like El Salvador and more big companies buying bitcoin then we will have a big push towards achieving that prediction. however I think the price could still go down, so people shouldn't buy in the delusional way that the price will only go up

[GreatArkansas]

These numbers are always possible. Breaking the previous all-time-high around $60,000 is the game decider here. We all know how that in trading, breaking resistance especially at all-time-high will be difficult to identify the next stop, so we should first rooting for Bitcoin that it will break the all-time-high.