Bitcoin reaches maximum, target $80K BTC

[Wimex]

Bitcoin reached $48,000 per second roast on March 29, following an overnight correction data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it fell to local lows of $46,900 before breaking back into $48,000 before today's Wall Street open. The pair held support at the annual open even as it consolidated, fueling hopes that the 2022 trading range had actually been broken.

On the other hand the popular Crypto trader Ed said that it was the right time to be "very bullish" in the future, "I expect a little more low today, but often in this type of bull markets, it is too much to ask," he commented in his latest youtube video, Ed observed ongoing construction from last year's summer lows, even though he had doubts about such a situation, and if the bullish follow-up occurred, the completion target was beyond the current all-time highs.

That gives me a goal of around $80,000," he concluded.

In my personal opinion I see it as a good time to invest a good amount in BTC and leave them a few months to mature, what do you think? Will they do the same as me?


Source: https://cointelegraph.com/news/bitcoin-hits-2022-high-as-analyst-gives-new-80k-btc-price-target

[1715547315]

1715547315

[fzkto]

Very brave reasoning about such a high bitcoin price, especially when you show an hourly price chart. But bitcoin has a lot of resistance on the way to the new ATH, which is not shown on your chart. I think you should listen less to popular traders who are always talking about new highs when the price goes up and burying bitcoin when the price goes down.

[Xal0lex]

That gives me a goal of around $80,000," he concluded.

In my personal opinion I see it as a good time to invest a good amount in BTC and leave them a few months to mature, what do you think? Will they do the same as me?

You should not rely on popular news sources that mention the high price of bitcoin, especially when this information is announced during periods of active growth. I recently discussed YouTube Influencers who talk about the project because they are stakeholders. I think bitcoin also has people like that who are incentivizing bitcoin purchases and sustaining demand with their bold predictions.

I wish we could see a new ATH on bitcoin this year, but let's wait for bitcoin to rise to at least $60,000 this year.

[jossiel]

Who's even this "popular crypto trader Ed"?

I don't even know him.  

In my personal opinion I see it as a good time to invest a good amount in BTC and leave them a few months to mature

It's just another speculation from an individual and each of us here have our own price predictions. And having that said, what that guy is saying is just the same words just as everyone in here.

You buy now for long term and you shall be good when the price hits another ATH again, that's it. So if you think that you have extra money to invest and it's a good amount, do it or else just follow the DCA method.

[kaya11]

Then name Ed doesn't ring a bell, though we all know anyone can predict snd speculate. It is not much of a news, this has been a cycle of bullish trends. Every year there would say such things. I never see this news for me a call to buy, I buy when I feel like it and have the money for it. I don't care with what nobody's have to say anymore. Buy Bitcoin for now and continue life, not just holding it for months but for years.

[Kemarit]

Again, it's too early to say what will be the top price of bitcoin is this current bull run. We even barely scratching $50,000, what's more $80,000?

So the first thing that we need to look at how the price will behave if ever we reaches $50,000. Maybe investors are going to sell-off, specially those who entered around $30,000. Or there will be new set of investors who will FOMO. So it's a long journey for us to get to a new all time high.

[sheenshane]

This should be on the Speculation board, you will see there is a lot of speculation regarding Bitcoin price prediction.

It's too early for me to say that Bitcoin becomes a bullish trend, we didn't yet break the wall of the previous price and considering another new ATH is coming.

I know there are a lot of positive predictions from our expert traders but for sure all of them are still guessing and predicting the market price, nothing more.

For now, let's wait for that when it will happen, the price of Bitcoin will go up when it goes up.

[Oceat]

Who's feeding you this information that it looks like you are well fed with his speculation/prediction. Expecting $80k when the price bouncing back and forth at $38k to $40k seems like a long term hodl to me before the $80k target begins. If that's your opinion then you should start buying when the price is in the $30s then hodl or else you might miss his prediction.

Anyway, I like how you are too optimistic about the market situation we are in but to be honest bullish trend seems like ended already so we are going to the bear market soon. And any news that would make the market pump just to expect another ATH seems too much for a year so maybe that might happen in a couple of years from now.

[Vaskiy]

Bitcoin have crossed the heavy supply zone of $45000 which has boosted the price to reach $48k. The next resistance zone seems to be around $45800. The price will try to cross it and the same happening with 200day moving average will make the price test $50k heavy supply zone. We don't know when this will happen, but this is how the market progress happens. For now we can expect slow growth than reaching new ATH this year. Being positive about the market is much important to keep the bullish trend and OP have done it good.

[franky1]

the reason the price topped out at $20k a few years ago and ~$70k in recent years is very simple

even for a hobby miner in the most expensive electric region could mine bitcoin cheaper then those ATH and so the 'demand' for buying bitcoin topped out.. and the ability to have coin to sell for profit outpaced the demand to buy.

looking at this years numbers
at the current hashrate of 210exa
using current ASIC ranges
here is the cost per btc for the most expensive electric region
the 110thash 3.25kw = $98k (last years gen)
the 104thash 3.07kw = $92k (current gen)
the 198thash 5.45kw = $82k (this summers gen)
the 140thash 3.01kw = $72k (this winters gen)

so indeed there is even at todays hashrate (which is lower then the rest of the year presumably) the price can attain $80k+ already even on the asics being released this summer(198thash).. just
(i say just, but by the time they are released and abundantly in use, the hashrate would have increased so i believe $80k is still possible this year)

but at the same rate. getting to $100k, well not anytime soon.. the hashrate has to go up alot to get a potential $100k

[someone703]

Well, I'm looking at analytical arguments to get to the outcome. Is there any connection?
Why $80000? Analysis to bring in new chickens, knowledgeable people will know how to be more realistic, small milestones in a short period of time will be reasonable, excitement will return, but they must also remember that the green pillar will soon turn red

[Sebas.tian]

Bitcoin have crossed the heavy supply zone of $45000 which has boosted the price to reach $48k. The next resistance zone seems to be around $45800. The price will try to cross it and the same happening with 200day moving average will make the price test $50k heavy supply zone. We don't know when this will happen, but this is how the market progress happens. For now we can expect slow growth than reaching new ATH this year. Being positive about the market is much important to keep the bullish trend and OP have done it good.

Yes, bitcoin has boosted the price to hit $48k which is ready to move above $50k before the end of this month to enable short and long term investors to make a good profit. The price is moving slowly in this period which is a sign to all investors to have positive strategies to embrace a huge amount of profits from crypto market. Definitely, bitcoin price will hit $80k soon, because bitcoin price always improve more in the month of March to enable long term investors to have something good to earn before the end of the year. This bulling is just the beginning for what will happen next month, so don't release all for sale because the price is about to move higher.

[pooya87]

before today's Wall Street open.

What the hell does any of this have to do with Wall Street open

~the popular Crypto trader Ed ~ in his latest youtube video,

Those who can't make profit in the markets have to drop low to creating videos about trading telling others what to do.

In my personal opinion I see it as a good time to invest a good amount in BTC and leave them a few months to mature, what do you think?

So when price was at the bottom close to $32000 you didn't think it was a "good time to invest" but now that bitcoin price is 50% higher sitting close to $48000 you think it is a good time to invest?!!

You see, this is the problem with watching idiots on youtube telling you what trading is. A good time to invest is when price is at the bottom or in other words has significantly dropped to unreasonable prices not when the reversal has already been underway and a big rise already happened.
Good news for those buying bitcoin is that price will keep on rising so even when you miss good opportunities and have to pay 50% more money to buy the same amount of bitcoin, you still make good profit since the price will keep on rising.

[davis196]

"popular crypto trader Ed"

This guy is so popular that I've never heard him before.Does he have a last name,or he's so popular that the people know him only by his first name?
It seems to me that this guy doesn't know anything about the Bitcoin market,he's just following the trend.
If the Bitcoin price does up "it's a good time to buy".If the Bitcoin price goes down,"it's a good time to sell"  
Such amateurish advise is what makes me cringe so hard,when I see "crypto experts" on Youtube and social media.
Anyway,it looks like there's isn't enough momentum in this price pump for a FOMO phase to appear.
There's going to be a price correction,but there's nothing wrong with that.Many traders,who bought at prices below 40K would want to sell at 48K and take the profits.

[franky1]

In my personal opinion I see it as a good time to invest a good amount in BTC and leave them a few months to mature, what do you think?

So when price was at the bottom close to $32000 you didn't think it was a "good time to invest" but now that bitcoin price is 50% higher sitting close to $48000 you think it is a good time to invest?!!

the whole point is that those people HAVE bought at $32k-$46k..  now they just want other people to buy in to creep the price even higher

i try to level out people expectations like a few months ago the whole $100k thing i tried to say how that number was not yet achievable even in a hype pump.
just like now saying its maybe possible to get to $80k+

the real big idiots are the ones that shout $100k+ by spring..
they have no clue and they cant even show any reasoning for it.

$80k+ is a possibility, but no guarantee when

[Poker Player]

I hope the analysis is correct, but after what happened last year, where all serious analysts were giving a minimum of $100k price for Bitcoin, and some much more, I am very skeptical of this type of analysis.

If we reach that price this year, so much the better. I think that might indicate that the cycles are getting longer.

In my personal opinion I see it as a good time to invest a good amount in BTC and leave them a few months to mature, what do you think? Will they do the same as me?

In my case, I do DCA, so I don't care what the market does. The only thing is that if we are in a bullish phase and we are beating ATHs, I spend a little.

[Oasisman]

I would be extra careful trusting someone who claims to be a veteran or a very experienced trader on YouTube or any other social media platform.
I don't think we'll have to skip into another ATH without getting closer the most recent one. I mean Btc is currently trading at $48k and it's still struggling to touch the $50k level.
We might even see a few corrections, before we see $50k again.


And btw, the good time to invest in Bitcoin is when you have the chance to buy fractions of it, because Btc will eventually reach the 6 digit figure couple of years from now.

[btc_angela]

Well, I'm looking at analytical arguments to get to the outcome. Is there any connection?
Why $80000? Analysis to bring in new chickens, knowledgeable people will know how to be more realistic, small milestones in a short period of time will be reasonable, excitement will return, but they must also remember that the green pillar will soon turn red

I guess there's no correlation, maybe this "popular" individual just pluck out that numbers from his head and call it the max price that bitcoin can go this year or at least this bull run that we are witnessing.

Nevertheless, it's really difficult for anyone to pinpoint the price. Just last year we have one prediction modeling that is being used by a lot of influencers and saying that $100k is going to be touch in December 2021. But the opposite happen, so we should know the drill by now. Never trust anyone specially this so called experts.

[Rikafip]

And here we go again; BTC goes up a little bit and we get bunch of these  "experts" pulling out numbers out of their asses, who where of course nowhere to be found when it was hovering around 35-40k.

In my personal opinion I see it as a good time to invest a good amount in BTC and leave them a few months to mature, what do you think?

The best time to buy Bitcoin was yesterday, and the 2nd best is today. Unless you  know what you are doing (and judging by the topic you opened I don't think you do) I would suggest you to stop timing the market and instead use DCA method, or simply buy when you can. If you try to time the market and buy Bitcoin with the intention to hold it for only couple of months you may end up buying high and selling low, like many newbies.

Just last year we have one prediction modeling that is being used by a lot of influencers and saying that $100k is going to be touch in December 2021. But the opposite happen, so we should know the drill by now. Never trust anyone specially this so called experts.

I guess you mean PlanB's Stock to flow model? While I still like his work, he was also guilty of being a little bit too cocky. All these models and predictions are fine and dandy, but when you set it up in your head that BTC is here to stay and that short term price (and for me short term is 1-2 years) doesn't mean much, it becomes that much easier. I done that 4-5 years ago and to paraphrase the title of a very well known movie (that is very relevant these days), I stopped worrying and learned how to love Bitcoin.

[kotajikikox]

That gives me a goal of around $80,000," he concluded.



Source: https://cointelegraph.com/news/bitcoin-hits-2022-high-as-analyst-gives-new-80k-btc-price-target

how does it will be His goal when he cannot even purchase the high volume of Bitcoin lol, or if he wanna tell us that his target is 80k for bullish market then He is correct because that can perfectly happen , the problem here is when? till when he will earn this amount for waiting?because if he meant that this 2022? i may not agree though there is possibilities yet there are no enough reason to believe in.
exaggerating and over expectation mostly the reason why we are failing in our investments so please try to be contented in smaller amount of earning.