With a steeply rising perspective, Bitcoin is close to the $ 60,000 limit. The price has so far rebounded at this magical limit, but no further falls are to be expected despite the volatility. A good and concise bottoming out in the last few weeks and months speaks against a strong course correction. Or in other words: the bottom has been reached, according to a prominent Bitcoin analyst filbfilb. Buying Bitcoin on a real Bitcoin exchange should still or especially be worthwhile now. How can this analyst predict the bitcoin price of $ 300,000? More on this in this blog article.
According to several analysts, the takeover of the bulls, so that rising prices are pending, is much more likely than a large sell-off. One analyst even thinks it is possible that Bitcoin’s price could rise to as much as 333,000 US dollars in the next five to six months. This would be an increase of more than 450 percent and almost tenfold for the year, with prices continuing to rise.
Co-founder of Decentrader
The co-founder of Decentrader, filbfilb, assumes that new highs can be reached in May and June 2022. According to his analyzes and statements, a disproportionate increase with very strong jumps upwards is possible. The Bitcoin rate could therefore rise well over 300,000 dollars.
According to filbfilb, the basis for the strong increase prospects are the analyzes of the Fibonacci sequences or Fibonacci retracements, as it is called in the specialist literature. In addition, the price data from the past of Bitcoin are of high relevance. According to the figures taken into account, the previous major price correction is in line with his forecast for a bullish market. Thus, the Bitcoin price peak comes in the middle of the even year, instead of the usual end of the odd year. This also makes it possible to explain and expand the halving cycles in a meaningful way.
Fibonacci retracements are a popular trading tool for chart technicians. In certain phases, traders can use it to predict certain price movements: The Fibonacci sequence is one of the most well-known formulas in mathematics. Each number in the sequence is the sum of the two numbers that precede it. Simply put, the future price can be read from the price development from the past.
This method works well until there is an external disturbance; an unexpected event, such as a spontaneous rate hike by a major central bank.
Under what conditions is such an increase possible?
In order to match the analysts’ predictions, it is important that there are no rate hikes. The behavior of the ECB and the other central banks to date, not to make any major adjustments to the key interest rates, has a positive impact on developments, according to the analyzes. A low interest rate is also advantageous for companies, as they rely on the policy of low interest rates with low loan installments for higher investments.
If there is no increase in interest rates, inflation will accelerate, which would lead to investments being redeployed. Thus, many investors would use the strong and long-term trend of Bitcoin and jump on the bandwagon with rising prices. This constellation would be the perfect environment to invest in BTC.
When Fibonacci-Retracements In technical analysis, one describes course corrections at certain resistance and support lines. They are named after the underlying Fibonacci sequence: Leonardo Fibonacci was one of the most important mathematicians of the Middle Ages. His most famous series of numbers hangs in Zurich’s main train station, visible to all on the ceiling above.
I posted this chart exactly 3 years ago today.
Price is exactly where predicted.
– filbfilb (@filbfilb) December 27, 2021
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Bitcoin price 300,000?