Analyst Predicts Bitcoin Price Rise To $ 20,000 By January | Zoom Fintech

  • A respected analyst predicts that the price of Bitcoin will hit an all-time high over the next 6 months, mostly based on the fractal sample.
  • Bitcoin demonstrated the same effectiveness as the Nasdaq index during the financial collapse of 2008 and, as a result, will recover in the months to come.

Crypto analyst Ethereum Jack made a bullish prediction for the price of Bitcoin (BTC) that could place the cryptocurrency at its all-time high in early 2021. The analyst bases his prediction on the fractal sample of Bitcoin and the ‘originally made after Black Thursday, when the crypto market collapsed due to the advancing Covid-19 pandemic. A “fractal,” as the analyst calls it, is a repeating sample in a context of uncertainty for the price of an asset.

After the Bitcoin crash in March, the analyst compared the chart of the last few months of Bitcoin with the chart of the Nasdaq index until the financial collapse of 2008. According to Ethereum Jack, Bitcoin exhibits the same efficiency as the Nasdaq in this 12 months:

An extremely cool fractal, I added some context to it, the evaluation of the virus with the evaluation of the 2008 Gann crash on the price and time facets shows an excessive confluence for this state of affairs with ranges. close to ATH around EOY / NY.

Supply: https://twitter.com/BTC_JackSparrow/standing/1239133425790930950

As the chart above shows, Bitcoin experienced three moments of capitulation collapse which were adopted by a huge rally. The main one was the “Bitcoin bubble” which burst in 2018, much like the Nasdaq “dot com” bubble. Each chart then entered an “bullish deviation zone” until it hit what the analyst sees as the last price catalyst. In the case of Nasdaq, it was the collapse of the Lehman Brothers agency and for Bitcoin will likely be the story behind the COVID-19 pandemic, in response to the analyst.

Bitcoin to hit all-time high in January

The analyst hopes that in early January 2021 his prediction will come true. Until then, BTC needs to test its all-time excess. Moreover, the prediction is in line with the situation that other analysts have put forward. Even though Bitcoin has had little movement in recent months, Bloomberg analyst Mike McGlone expects the cryptocurrency to succeed in hitting its all-time high of $ 20,000 at some point in the future these 12 months. , as McGlone recently acknowledged:

Bitcoin reflects 2016’s return to its previous high. This was the last time the supply was halved, and the third year after a big spike … Fast forward 4 years and the second year after falling nearly 75% in 2018, Bitcoin will hit the above ratio. about $ 20,000 this year, in our opinion, if it follows the 2016 model.

As reported by CNF, various analysts have acknowledged that Bitcoin will start buying and selling in double-digit ranges before the 12-month end. These play Jason Williams, CEO of Morgan Creek Digital, Arthur Hayes, CEO of BitMEX, and Su Zhu, CEO of Three Arrow Capital.


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