Analytiker foreslår, at Bitcoins bund kan være $ 50.000, hvis det antages, at BTC overstiger $ 200.000 i denne cyklus

Analyst Suggests Bitcoin's Bottom Could Be $50K Assuming BTC Surpasses $200K This Cycle

Prisen på bitcoin i oktober har vist tegn på en dobbeltboble, der ligner tyren 2013, og spekulanter har forsøgt at gætte det førende kryptoværktøj’hold op. I oktober 20, cryptocurrency markedsanalytiker Justin Bennett diskuterede bitcoin’s possible price floor after it reaches the top. Bennett suggests the end of this cycle could be between $207,000 og $270,000. Assuming bitcoin crosses $200K per coin, Bennett thinks the digital assets bottom after an 80% pullback will be around $50K.

‘2013 Vibes,’ ‘End-of-Cycle Targets,’ and Searching for the Elusive Bottom

The price of bitcoin (BTC) reached an all-time high (ATH) at $67,017 on October 20, 2021, and since then the price has shed around 8% in value. On that same day, cryptocurrency market analyst Justin Bennett published some insights about bitcoins future in a blog post calledCharting Bitcoins Next Five Years.

Cryptocademys analyst Bennett discusses BTCs market fundamentals and he offers a prediction of the end of the cycle as well. In recent times, many bitcoin supporters suspect that a 2013-like double bubble is on the horizon, and the infamous stock-to-flow creator Plan B explained on Saturday that hes feeling “2013 vibes.

The blog post written by Bennett covers bitcoin bull cycles and talks about where bitcoin (BTC) is going over the next five years. “A look at the 2.272 og 2.414 Fibonacci extensions from the last two cycles shows a target area that was reached both times,” Bennett writes.

If we apply that same area to the current rant, we get an end-of-cycle target for Bitcoin between $207,000 and $270,000,the analyst adds. Following the end cycle outlook, Bennett details that the last three bear markets that followed the bull cycles haveproduced corrections of 94%, 87%, og 84% respectively.

Bennett writes that the previous data also shows that each bear market was less painful than the one prior. The analyst highlights that this data indicates that the leading crypto asset bitcoin (BTC) is becoming amaturing market.

As BTC continues to mature, Bennett stresses, bitcoin islikely to see diminishing returns and bear market corrections.The Cryptocademy analyst believes this end cycle will be no different. “As such, Id expect the next bear market to pullback between 75% og 80% from the peak,” Bennett details. The digital currency market analysts blog post adds:

If we assume bitcoin reaches $200,000+ this cycle and pulls back between 75% og 80% during the next bear market, it would put the next cycle low somewhere around $50,000. And that makes perfect sense. $50,000 is a psychology number, and its very near the $65,000 high that lasted for six months recently.

Predicting the Lowest of Lows

Bennetts prediction follows the recent bitcoin price model crafted by Will Clemente. The lead insights analyst at Blockware Solutions, Vil Clemente, tweeted about a new bitcoin price model called the “Illikvid forsyningsgulv” in mid-September. “Introducing: ‘Illikvid forsyningsgulv,’” Clemente tweeted on September 15. “This combines Glassnodes illiquid supply data with Plan Bs traditional S2F model, creating a price floor based on Bitcoins real-time scarcity. Currently $39K,” he added at the time.

og Messari’s been a number of people attempting to call bitcoins price top og some even believe a singlebitcoin will eventually be equivalent to $1 million.Bennetts and Clementes recent statements touch upon bitcoins price bottom and the lowest of lows. Both of these predictions combined indicate that the lowest of lows following this bull cycles top could be anywhere between $39K to $50K.

What do you think about Justin Bennetts blog post that suggests bitcoins floor will be around $50K per unit? af den digitale valutaøkonomi med.