Where can bitcoin go? Definitely much higher than what we imagine. In recent months we have seen a gradual rise of bitcoin and this is a very important element because if the rise was sharp it could have been a sharp fall.
Also, the growing involvement of the blockchain and cryptocurrency companies and ordinary people shows where the market is leading. Now I want to refer to an article I read and I was very surprised. This article refers to a report by a Citibank analyst named Tom Fitzpatrick, and what does it say? He says bitcoin will be the gold of the 21st century.
The awesome thing is that he predicts bitcoin by December 2021 will reach 318.000 dollars !
According to his analysis he sees a symmetry in the course of his price. So far, three major uptrends have been formed which increase in duration. The first period lasted 10 months and started in 2010. The second period was from 2011-2013 and the third from 2015-2017 and there was always a constant correction in the elongation that existed in the ascent period. The nice point of the analysis is that according to his research we are in the fourth period which will reach the end of 2022 and the price of bitcoin will reach the awesome price of 318,000 dollars and he believes it !!
The predictions are definitely not always correct but bitcoin will definitely reach a price we can not imagine !! The markets show that the age of cryptocurrencies is coming and so do financial analysts of big houses. In fact, they say that 2021 will be the year of cryptocurrencies !! We are close and we will see, patience!!
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It is not out of the realm of possibility. Certainly, it is an aggressive forecast but we know that things can go parabolic with Bitcoin.
With institutions going into Bitcoin in a big way, this is something to watch. They have the money to make massive moves upward.
The biggest question is how it will affect the rest of the tokens. So far, Ethereum is enjoying a bit of a run but not much else (LTC has made a nice move).
Time will tell how deep this goes.
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A few months from now alts will have already recovered all that lost ground behind BTC.
I follow this guy on twitter and find this perspective quite interesting.
https://rektcapital.medium.com/the-crypto-money-flow-cycle-ebe64174da3e
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You're right! One of the positive points is the companies that enter the game strongly! I believe that Ethereum will be the next surprise !!
Anything is possible for BTC. It's hard to imagine, for some of us, that BTC will get to $300,000 but it's not that hard when you take into account the current world economy situation.
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I agree with you my friend, everything is possible !!
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