Cryptocurrencies

Why is there such a consensus on a Bitcoin exploding at 100,000 dollars? – Cryptocurrencies

A single Bitcoin (BTC) could be enough to buy a house or an apartment in 2 or 3 years: we envy those Whales who had the intelligence to mine BTC, from its first years. Bitcoin is not even in the 5-digit club yet, which analysts are already agreeing on a 6-digit BTC: a consensus that could turn a simple posture imbued with hope and a touch of irrationality, into a reality financial. Review of the preachers of the 100,000 dollars… and more.

3 years of consolidation

The course of Bitcoin has (yet) crossed the 10,000 dollar mark recently, but is impossible for the moment BTC to consolidate above this level.

Despite this back-and-forth between the 4 and 5 digit border, many analysts remain optimistic about the evolution of the price of BTC ; most of them actually agree that Bitcoin is embarking on a historic bull cycle.

The trader Credible Crypto, recently published a graphical analysis on Twitter in which he explains that the price of Bitcoin is about to exit a 900-day consolidation cycle.

According to Credible Crypto, Bitcoin is in an accumulation phase which started in December 2017, after the severe correction which followed its historic HTA at 20,000 USD.

This phase is marked by a repositioning of investors who seize buying opportunities.

Half a million dollar bitcoin

Plan B uses its Stock-to-Flow to advance a Bitcoin to USD 100,000 by 2022, then to USD 288,000 before 2024, with an HUD that could be worth USD 576,000. These triangulated forecasts with other indicators give food for thought: 60% of the supply of Bitcoin has not moved for almost a year, despite the variable performance of the BTC.

Previous cycles indicate that this behavior is generally a harbinger of a market bullish.

Selling would therefore not be the current priority of holders of Bitcoin ; total reserves in Bitcoin of the main exchanges is at their lowest level since November 2018.

This Bitcoin roadmap places the BTC at 1,000,000 USD, in the next ten years. Given these figures, the capitulation of post-halving miners – to the example that of Hyperblock – seems to be a mistake, with too short-term a vision of the potential of BTC. The 6 digits would be wonderful but, Bitcoin must already make the effort to consolidate into the 5 digits for the moment. Either way, analysts of all stripes, deploying different tools, agree to take it for granted: Bitcoin will inevitably reach $ 100,000 … at least.

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