One of the most reputable Bitcoin analysts confirms in a new interview: Bitcoin is on its way to six-figure prices.
The Bitcoin bulls are driving the cryptocurrency number 1 up strongly right now. So strong that euphoria is slowly showing among the industry participants. Currently, BTC is trading just below $ 46,000 again-an increase of around 3% over the past 24 hours. Bitcoin continues to climb higher and higher, while also rapidly recovering from smaller declines – a bullish sign of the sustainability of the recent rally.
In keeping with the fresh wind in the crypto markets, one of the most popular and quoted Bitcoin analysts has now commented on the future development of the coin: PlanB. In a new interview with bestselling author Marc Friedrich, the Dutchman assures: Bitcoin (to buy from eToro or Libertex) will reach six-digit prices this year.
„# Bitcoin Bull market is NOT over and $100k THIS year!“
Watch this awesome video. https://t.co/NsXxXamxFl
We talk about his stock to flow model, if we will see a supercycle, his bear case for bitcoin, when he will sell and in what else PlanB is investing. pic.twitter.com/woPps5cmYb
– marc friedrich (@marcfriedrich7) August 8, 2021
The inventor of the Bitcoin Stock-To-Flow price prediction model is asked if BTC will hit the price target this year or next – and answers:
“Christmas 2021, you could expect it to be $ 100,000. So, yes, I think it will be this year.“
Also an interesting question: In view of the quite violent Bitcoin corrections, was the analyst sometimes afraid that his model will collapse and fail? PlanB for this:
“I never doubted the model. […] But I’m not sure that those $ 100,000 will be reached anywhere before Christmas.“
And in general, so PlanB:
“I also think that 2x or 3x from here is not much over a period of three, four or five months.“
The analyst emphasizes: He does not give a guarantee – ” but my money is on 100.000 until Christmas.“
You can watch the interesting conversation between PlanB and Marc Friedrich here (fully subtitled in German):
Top analyst expects “Golden Cross”
Matching PLANB’s prediction that Bitcoin could be at $ 100,000 by Christmas is also a recent prediction from popular full-time trader Michaël van de Poppe (@CryptoMichNL on Twitter). In his estimation, Bitcoin will see a so-called Golden Cross in September.
Good thing, # Bitcoin will be making a Golden cross in the coming month.
– Michaël van de Poppe (@CryptoMichNL) August 10, 2021
But what is a Golden Cross – and why could it for the Bitcoin course so positive be? A “Golden Cross” is a particularly bullish chart formation, often followed by massive price gains, chartists refer to chart patterns where a short-term moving average exceeds a long-term moving average. As a rule, the 50-day MA is used as a short-term average and the 200-day MA as a long-term average. However, the “Golden Cross” can occur in any time frame.
Poppe is not alone in his assumption that Bitcoin could be on the verge of such a bullish development: even the popular analyst Lark Davis (@TheCryptoLark) stipulate a golden cross come. Top trader RektCapital not only agrees – he expects the Golden Cross within the next three days, as he writes to his almost 180,000 Twitter followers.
— Rekt Capital (@rektcapital) August 10, 2021
So there remain exciting days ahead for Bitcoin and the aggregated crypto markets. Will BTC manage to build its bullish momentum? Or is there another withdrawal that erases recent gains?