you can be my referral over at FreeBitco.in! I'm going to distribute some of my funds back to my referrals as a generous thank you, so hurry up!
As I'm sure all of you are well aware, Bitcoin has finally done the unthinkable-- We broke the fabled 60K line!!!
In my entire 4 years of being a crypto advocate, I'd have never imagined that we'd break such a milestone in so little time. And to think that 1 BTC was trading at a hair's breadth above 3K exactly a year ago... It is ,simply put, amazing what the shockwaves and implications of this parabolic rise bring to the table in front of the depreciating dollar, and appreciating bitcoin. This stunning rise in value implies that we The People are finally beginning a monetary revolution against the crooked whims of the people incessantly printing insurmountable amounts of dollars to satisfy the rich, and screw the poor.
But where is Bitcoin going in the coming weeks? Is the 100K still a feasible prediction for this year?
Bitcoin's trajectory - $100K?
To start off, I truly believe that, before the next halving event takes place and solidifies the price above 500K, we WILL break the 200K line of resistance. But this is a matter of 'when'. I predict that, after extensively analyzing everything from past events (Thanks, Elon!) leading up to this moment, and consulting several reputable technical analysts renowned in their field regarding the future of Bitcoin's price, assuming the attention is sustained and that the halving phenomena is still in effect, as well as cross-referencing all the data with the famous Stock-to-Flow model, I have concluded that breaking 100K is going to happen 2-4 months from now!
Yep, that's right! Though I've showed skepticism with how lofty this goal people have been asserting is a tangible possibility seemed to me, considering that the rise above 20K up to 30K was rather slug-paced, I now firmly believe, with how sustained and strong the attention and support we are getting from both retail and institutional investors alike, Bitcoin hitting new paradigms beyond the 100K line within our current year is basically a given at this point in time.
Bitcoin has shown been shown to be extremely volatile during this parabolic rise more than any other period in the past. From observation, Elon's manufactured price pumping behaviour, though has benefited us in terms of attention, has shown to not be long-lasting compared to that of a natural rally. This price and performance behaviour was truly exhibited full-force when Elon made several tweets promoting Dogecoin. I don't think I need to spell out for you what happened to that poor guy who invested his entire life savings into Dogecoin, only to watch it vaporize right in front of his eyes, all the while being livestreamed. It is absolutely paramount to not fall into such blatant acts of pump-and-dump tactics like this, especially coming from someone that is supposed to be reputable like Elon musk, who has a track record of market manipulation basically strewn everywhere.
What about the correction?
I'm glad you asked! As I was in consultation with those technical analysts, I asked them this question. What they've told me came as a bit of a shock...
The answer was to expect a bloodbath. No kidding, no beating around the bush, no sugarcoating. We haven't had a significant correction in a long while. They did not specify at which price point, but they ballparked it to be north of $70-80K, before another giant rally takes place to drive it up to the prized 100K point!
With this, we come to a wrap for today's article. Remember, you can be my referral over at FreeBitco.in! I'm going to distribute some of my funds back to my referrals as a generous thank you, so hurry up!