What's Up Crypto Soldiers?
*Disclaimer: this is not financial advice but my own personal opinion, do your own research before investing.
Today we'll be using quick maths and technical analysis to explain why the Crypto market will hit $2 Trillion this year or next. Its all based on Elliot wave theory and maths, but if you're not familiar with those all will be explained so stay tuned!
We'll base all our predictions on BTC as BTC is the real market mover, if BTC goes up then so too does the market. However these values could in fact be LOW as I believe the altcoin market will increase more than the BTC market!
First things first lets look at the BTC market cap.
If you look at this image you see the day candles for BTC in the last few months. If we take a look at the shape of the pattern it very much looks like an Elliot Wave 1. Elliot wave 1 is wave one in a series of 5 waves with three peaks. We are moving into wave 3. Below you can see the Elliot Wave pattern.
nb. I chose that bottom of the wave due to the huge volume seen there.
There are two key features of wave 3 that explain the BTC price increase that's coming, it must be longer than wave 1 and 75% of the time the peak is between the 1.618 and 1.618 fibonacci level. If we look at the first image you can see those levels.
If we take the 1.618 and 2.618 level we can calculate where BTC is going to be, and thus the market, 75% of the time.
This picture shows the prices of BTC at these levels and at the bottom the current market cap.
We can calculate the lower bound, as seen above, by taking the price at the 1.618 level. We multiply this by the projected number of BTC, 17 million and you can get the full market cap for BTC. You then work out the multiple that BTC has seen to get to this point by dividing the projected market cap by the market cap now. Use the multiple to work out the projected market cap of the rest of the market. Add these two together and you get the projected market cap at 1.618 level! $1.6 Trillion.
You do the same calculations with the upper bound, and you get the 2.618 level, at $2.5 trillion!
If you average the two you get an answer of $2 Trillion. That's where the market is heading, in my opinion at its lowest, in Elliot Wave 3!
What do you guys think of this prediction? Am I wrong or right? Comment down below.
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