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Bitcoin predictions for rest of the year what’s the views

  • 24-05-2021 4:11pm
    #1
    Registered Users Posts: 372 ✭✭ mcriot29


    I feel it will rise to 50k us max but drop then to 15k-20k


Comments

  • Registered Users Posts: 742 ✭✭✭ SortingYouOut


    mcriot29 wrote: »
    I feel it will rise to 50k us max but drop then to 15k-20k

    What do you base that off?


  • Registered Users Posts: 372 ✭✭ mcriot29


    What do you base that off?

    Past trends it’s only my views could be totally wrong


  • Registered Users Posts: 10,905 ✭✭✭✭ Bob24


    Predicting for fun - I am not claiming this is science and it definitely isn't investment advice.

    But my base case still is that we will go above 100k in the next 10 months.

    While violent, I think the recent crash still is a mid cycle correction and price action will eventually recover to reach the latest S2F model. I think there is a bit of recency biais when people see the current situation as the end of the bull run. People got used to BTC only going up in the past couple of months and even old timers forgot that mid cycle violent corrections have always been a thing (I include myself, I was getting comfortable with the price going up each month and this is a bit hard for my brain to process).


  • Registered Users Posts: 372 ✭✭ mcriot29


    Bob24 wrote: »
    Predicting for fun - I am not claiming this is science and it definitely isn't investment advice.

    But my base case still is that we will go above 100k in the next 10 months.

    While violent, I think the recent crash still is a mid cycle correction and price action will eventually recover to reach the latest S2F model. I think there is a bit of recency biais when people see the current situation as the end of the bull run. People got used to BTC only going up in the past couple of months and even old timers forgot that mid cycle violent corrections have always been a thing (I include myself, I was getting comfortable with the price going up each month and this is a bit hard for my brain to process).

    You could be right but I feel we won’t get any higher on this run and the next bull run will make the 100k mark.
    No one can predict it so I will prob be totally wrong


  • Registered Users Posts: 5,758 ✭✭✭ circadian


    Yeah I was expecting this bull cycle to start winding down around September. It may have come earlier or this is just a mid season correction. There's never any way to tell.

    If we continue on a bullrun until the years end then I'd say 50k is a fairly reasonable expectation before a retracement to 10-20k.

    I think we will now start to see cycles that aren't entirely driven by BTC and other currencies with use cases may see their own bullruns including with tokens or similar associated. They won't stop developing technologies just because BTC had cooled off.

    If ethereum can pull off the proposed changes, and fix the transaction issues then that could have it's own little bull session in a year or two. Same for the likes of cardano etc. The market is starting to mature and diversify, I think the next big bull cycle btc may not be as important to investors as they'll have actual technologies to back.


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  • Registered Users Posts: 7,884 ✭✭✭ Unearthly


    Bitcoin over 100k for the end of year.

    I think we will be in a choppy few weeks trying to break and test resistance/support levels before a final big leg up.

    A lot of the top holders have been still accumulating bitcoin recently so I think they might know something I don't


  • Registered Users Posts: 10,905 ✭✭✭✭ Bob24


    mcriot29 wrote: »
    You could be right but I feel we won’t get any higher on this run and the next bull run will make the 100k mark.
    No one can predict it so I will prob be totally wrong

    Yes - what we agree on is that when it comes to predictions it is better to remain humble :-)


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