Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
⭐ Merited by bitebits (1)
Feels like we’ve been treading water since late February. Well we have been, haven’t we. Really hoping for some bullish momentum soon and a significant period of uppity. $61,000 seems very cheap, we’re still below the 2021 high, which is a bit pathetic really considering we now have Spot ETFs and institutional buying.
I’m going to stay positive and expect that in the new few months we leave this range behind and blast through the $70,000 zone into price discovery hitting multiple all time highs before the year is out. I know that 2025 is likely to be the peak of this cycle (and probably the second half of the year) but I expect us to start moving up soon. We should be past the $60,000’s now.
I’m going to stay positive and expect that in the new few months we leave this range behind and blast through the $70,000 zone into price discovery hitting multiple all time highs before the year is out. I know that 2025 is likely to be the peak of this cycle (and probably the second half of the year) but I expect us to start moving up soon. We should be past the $60,000’s now.
Check this out ...Jack Mallers (@strike) on Aug 9.
https://open.spotify.com/episode/5K68hmUQtZql3y4n6taERa
TL;DR In his opinion 100-125K by the EOY and 500-700K peak THIS cycle. Would be nice, right?
My comment: many people call for very lofty prices, but here we are, "fighting" in 55-74K "trenches" since March.
Maybe due to still high interest rates?
I see that EVERY time stock market needs liquidity, funds are selling bitcoin to give support to their stonks.
That said, we are roughly 43.5% year to date.
I run some quick math: in the last 5 years exactly, we are up from 10358 to 60300, roughly, which is 42.22% a year.
As you can see, the numbers are virtually identical: 5 year average and year-to-date, suggesting that we might no have much appreciation in the rest of 2024..
Of course, this could be a coincidence as numbers would shift as we proceed and we should have much better comparison when 5 year period would land on a march 2020 dip.
If, for example, we would be at 100k in march of 2025, then it would be 92.2% yearly since march of 2019 and almost exactly the same per year basis since Jan 2024.
Pick whatever scenario you like more, but both could happen-60-70K range until EOY and 100K in march of 2025
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