There are a lot of price targets out there so it is fun at times to dream and let ourselves go.
With that, there was an interview with Raoul Pal who was asked his price targets for both Bitcoin and Ethereum. Keep in mind that he is very bullish about what is going on and believes the charts are shaping up for a very powerful move.
Source
His projects are as follows:
End of Year:
Bitcoin $200K
Ethereum $15K
End of Cycle:
Bitcoin $400K
Ethereum $40K
He figures the end of cycle somewhere around the end of the first quarter.
Here is the video of the interview. The prediction is at the 45 minute mark:
That certainly does mean that the remainder of the 4th quarter are going to be full of fireworks. Keep in mind, he is a big macro guy along with really following charts. If you subscribe to this, then his analysis might be right up your alley.
The question is will he be right? Of course, we are going to have to wait until that can be answered. Many are putting out similar numbers, although I have yet to hear any that were this aggressive in such a short period of time.
Hive
Another point that is raised by this is what would a run like this do for Hive. If only makes sense that such a powerful move in the two largest cryptocurrencies would translate into higher prices for Hive.
We saw something similar at the end of 2017. When that bull market took off, everything ran. Of course, at that time, we were in the middle of the ICO craze. That means a lot of junk ended up skyrocketing. The bear market that followed cleared a lot of that out.
Now, we are in a different environment. Granted, we still see a lot of junk out there, which will likely benefit from a massive bull run. However, people are now able to look at projects a bit closer to see what is happening with them. Is there actually development taking place or is there just a white paper thrown together by some project team?
Obviously, those who are optimistic about Hive know there is a lot of development taking place. There is a good chance this is what ultimately leads Hive to massive heights. Nevertheless, in such a short period of time, there is no way development will be responsible for much of a move. Here is where following the general trend of the market could play out.
During 2017, STEEM high near $9 so there is plenty of room to run. Would Hive reach this level? Hard to say. The environment seems a lot more crowded. That said, with a stronger foundation, it is easy to see how it is possible.
Bear Market
One thing that was not discussed is what takes place at end of cycle? The most logical conclusion is another bear market. This brings up the point that we could see a massive run up followed by a large sell off.
How do people handle that?
For those of us who were around in 2017, it is just another cycle in cryptocurrency. Certainly, there is every reason to bank some profits. However, it is always best to be a HODLer, with at least a portion of the portfolio.
Those who are just entering cryptocurrency for the first time, this will come as a horrific shock. We are in a realm where things can go up very quickly, and then reverse course.
If memory serves me, the 2017 run kicked off in November and was done in January. From that point, it was a bleed down that lasted the better part of 2 years for Bitcoin (near 3 for alt-coins).
How many people are prepared for that? If you are new to cryptocurrency, expect it. This truly is par for the course.
So what are your thoughts? Do you think Pal's projections for both EOY and EOC are accurate? Or is he way off base?
Also, what do you think the impact will be in the price of Hive?
Let your minds run wild. It is the weekend. Let's have a little bit of fun.
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I guess it may be possible but I think it's unlikely for the end of year targets. At this point, I can't really think of any really major catalyst for BTC or ETH. So I lean more on a more conservative price target.
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FOMO.
That is what set things off in 2017.
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With Bitcoin, anything is possible. I find those numbers a little optimistic but....stranger things have happened. $200k seems more realistic (if anything going from $30k to $200k in 6 months can be called realistic).
In the meantime, if HIVE runs on mainstream news and development (3Spk, HAF, #Splinterlands, #ProjectBlank), it could easily go into double digits. If it's just a pump along with the rest of the market, I'd say $5-$7.
Or it could just slowly grind it's way upwards and maybe hit $2-$3 over that time frame and then hold onto it. Who knows. I'll just keep stacking and HODLing, HODLing and stacking until it becomes a household name. When that happens, we'll know we've arrived.
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I agree it is an exercise in dart throwing. There is no way to know. Pal is tossing something out there based upon his charting. Could be right, might be wrong. Certainly is optimistic in the very near term.
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yeah if btc and eth price increase lot of altcoin prices increase as well I hope to see hive at 5$ then
My minimum expectancy for ETH is $15K and BTC approximately $180K. These are minimal price targets and I am hoping for a big blow-off. However, quite early on in the previous cycle, I predicted a 7K top that got obliterated by a factor of 3. It is not that aggressive when you look at it in percentage terms and not dollar.
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What is your time frame on this price predictions?
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The next 3 to 4 months. It is not even 200% on BTC, which is very likely given the general parabolic close that has consistently taken place.
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I have been stick to my model since last year and I have published the model when BTC was at 28k$ and was going to 20K$ haha.I got a lot of criticism and laugh at that time but accordingly the top for BTC is 134K$.
Every model is perfect until it fails so let's see how it goes.
Here is the link for the article in case you would like to give a view.
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@taskmaster4450le, you've been given LUV from @pixresteemer.
Check the LUV in your H-E wallet. (1/5)
From what I recall most predictions for 2017 were way off. I won't put much emphasis on these ones either. The higher we move, the more I'll probably move towards more stable assets.
I don't have any predictions for the price of Hive either. Hive has never been through a bear market, but 2022 is rich with major releases and partnerships for Hive. If the bull market extends through the end of Q1 2022, the price of Hive will probably have time to reach some incredible levels compared to today. But the bear market will inevitably hit, and probably hard. During bear market great news won't matter anymore, unfortunately. The good part is that now Hive its own protection mechanisms at the first layer, that should work without removing funds from the ecosystem (conversion from Hive to HBD and interest on HBD in savings). Something Steem didn't have in the previous bear market.
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Getting to those prices for sure will make me sell some of the assets, but I think is too courageous to get there. I don't hype so much as I am a crypto portfolio builder and hodler, so I am moderate about it.
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We are expecting HIve to bull more. As we expect BTC to bull that's how Hive will do . There's alot of improvement going on in HIVE ecosystem,I know that's will make Hive to bull more.
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I don't know about the coming prices. Those do seem a little overly optimistic for me though.
The thing that gets me is the cycle. EVERYONE is waiting for it. EVERYONE is telling EVERYONE that it's going to play out exactly like it did in 2017.
But why should it? And do markets ever do what everyone is so sure they're going to do?
It gives me pause. However, if his price predictions are right and we see $400k bitcoin in a few months, I think the bear market will have to be a thing. Frenzies are never rewarded.
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I follow his analysis so I might be a little bit his side, but we will have to wait and what happens, but on my opinion BTC to hit $250k and ETH to hit $15k to $20k at the end of the bull cycle.
As for Hive if BTC pump as hard and crazy as we expect and carry all coins along, I'm expecting hive to get to $10 and above.