Bitcoin has had a parabolic rise since September with few corrections, and I imagine many BTC holders who sold around 17K hoping to buy back in around 13K are nervous watching BTC consolidating around 18.5K. We have started to see company buying of BTC like with Michael Saylor of MicroStrategy who has been all over the Internet explaining his $425M buy of BTC in logical and persuasive fashion, and Stanley Drukenmiller’s statement last week on CNBC that he finally owns some BTC as well as gold as a hedge against the US dollar along with the list of Billionaires that are bullish on and own BTC will likely create a type of Institutional/Company/rich individual FOMO into BTC - which is becoming scarcer with the negative inflow of BTC into centralised exchanges where the USD/BTC price is determined, although the big company/institutional/rich individual buying is mainly done off-market OTC! This all strongly suggests a tidal wave of big money is coming for BTC once regulatory and Company Board and rich money investment is in place, and we may well see Plan B’s Stock to Flow model of BTC predicting a price of ~$50K for BTC at end 2020 heading to a price of $100K in 2021 after that third halving in May 2020 come true - like my own exponential chart model of BTC’s price I published here in 2018 that showed the 24 month up and 24 month down pattern that BTC has followed since 2012 and that predicted an end 2020 price of about $40K and an end 2021 price of about $200K or ~ 12x the price we have now! So while many technical indicators point to a sharp correction soon to about $13K allowing a good buy into the bull market after the third halving with the institutional/company/rich money coming in strong and then the retail FOMO once BTC cracks ~$25K that takes us to the next likely BTC high of $100-200K in 2021, I wouldn’t hold my breath that BTC will see a price again under 17K - and I am 50% invested at the $18.5K awaiting that likely correction to ~$13.5K to go all in again and my advice is don’t wait fully in cash on the sidelines waiting for a big correction that may not come atm and may in fact happen from say $30K to $20K in Dec 2020 or early 2021 - cause if you miss a 10x increase in BTC price over the next 12 months from the current $18.5K you’d certainly be kicking yourself for selling at the current price or staying out of the market now waiting for a lower price! So this is not investment advice of course, but it’s uncanny how BTC is following the exponential models of Plan B and myself from 2018 and it’s on the pathway we both projected forward for it then $100-200K for the increasingly scarce BTC that will be for sale next year - interesting!
https://i.imgur.com/53fIc6X.jpgJust looking at this November post of mine 4 weeks later and they were prophetic words about BTC being more likely to hit 25K in December rather than correcting down under 17K as its next step, and thinking also how it would be very nice if my prediction that BTC hitting 25K in Dec 20 would be a springboard to it hitting an ATH of $100-$200K in 2021 also comes to pass making a lot more BTC investors fiat millionaires for the Glassnode statistics! Glassnode released an interesting metric 4 days ago that showed BTC addresses holding at least $1M USD had gone parabolic in December increasing +150% to 66,540, with the Glassnode CTO describing BTC’s overall technical metrics as “insanely bullish” and predicting a 10x increase in BTC’s price to that $200K USD in 2021! Interesting article
https://www.google.com/amp/s/cointelegraph.com/news/insanely-bullish-glassnode-cto-predicts-btc-price-will-10x-from-here/amp and tbh I can’t fault his reasoning!
But it’s important to remember always that BTC is a volatile beast, and that there will of course be dips and significant corrections of its price which it’s so famous for along the way to those predicted highs - and certainly it will take strong hands and cojones of steel to ride the beast all the way up to that $200K if it happens where we can all take out some wonderful life-changing profits! And it’s important I believe in the day to day cut and thrust of things BTC that one keeps the long-term big picture firmly in the back of your mind, and that you have clear goals and defined BTC prices worked out now where you will hold through FUD and dips and aim for that 5-10x increase in BTC’s current price that looks likely in 2021 or beyond - and to have firmly in mind a clear plan of when and how much of those big life-changing ‘winnings’ you will take off the table if and when the King hits 100K and then 200K and how much you will leave on the table shooting for that magic one million dollar price perhaps by 2023/4! 📈
The king has been a magnificent beast to ride the last 10 years to today’s high price that could only be dreamed of at its 10c conception I’m sure, and all signs are that the beast will continue to be a great ride the next ten years up to highs I suspect we can only dream of today! And in closing I must say for once how mindful I always am when I write a post here on BitCoinTalk of what an honour and privilege it is to be following in the big footsteps of a giant like Satoshi himself, who started this forum 10y ago along with inventing what I’m sure will come to be seen as one of the worlds most important and revolutionary things in BTC the King 👑💫!
