Post
Topic
Board Speculation
Re: TA shows potential bullish breakout - if history repeats
by
ShowOff
on 16/12/2021, 08:35:11 UTC
I would not hope for bitcoin to reach $100k this year as its very hard for it to achieve considering its market condition. But i do hope that after all these price declines that we are witnessing, we will still end up this year with bitcoin price at $70k at least. So that gives the reason to celebrate for those who bought bitcoin when it was $45k below or even $50k below.
To reach $100K by the end of this year, we need very strong support from institutional investors whose investment can drive a lot of demand for coin in the market. Microstrategy via Michael Saylor announced that they had spent enough money to buy an additional 1434 bitcoin some time ago at an average price of $57,477 per bitcoin. It was a strong encouragement before the end of the year but the market was affected by the FUD leading to further correction. So it would be hard to see the price going as high as $100K this year although $60K - $70K is still possible for the rest of the day in December.

However, bitcoin will not stay for long having its price corrected, it will eventually skyrocket to the moon again and end up having its new ATH. But that will be good by next year as bitcoin always proved to us that it will always regain its momentum no matter what.
I'm not too sure about 2022, but things could turn out the other way around even though we know that historically bitcoin could hit higher price than ATH before.