According to financial analyst Peter Brandt, if the repeating parabolic growth curves persist, bitcoin could grow to $ 100,000 by 2021. He believes that the current rally is the beginning of another lingering rally, as a result of which the $ 100,000 bitcoin mark could become real within two years.
The expert also says that May 2020 may be marked by the closure of the symmetric triangle pattern. At the same time, Bitcoin halving can be expected. In the meantime, there will be a fierce struggle to overcome the breakthrough mark of $ 10,000- $ 12,000.
If there is no growth in the next month, then there is a high probability that the $ 9,500 mark will remain the top, which will pull the decline.
Don’t be euphoric
And while bitcoin on the daily framing is growing, but over the coming weeks, everything may change. This will happen when bitcoin, which is the largest cryptocurrency by capitalization, hits resistance at $ 10,400. And according to Brandt, this will happen by February 20. The co-founder of Morgan Creek Capital Anthony Pompliano has the same opinion, he already said in 2019 that we can expect the $ 100,000 bitcoin mark in December 2021.
Josh Rager, co-founder of the Blockroots trading platform, has the opposite opinion, who believes that Bitcoin will not rise to the level of $ 100,000, but can still cross the 2017 high. According to his forecasts, the cryptocurrency could reach the level of $ 75,000- $ 85,000.
The cryptocurrency market froze in anticipation
Bringing hope in the early months of 2020, bitcoin is encouraging with prospects for further growth. He managed to preserve the trend for long-term growth, even with negative factors that influenced the traditional financial market. But cryptocurrency is still at risk of reducing its positions. This has already been seen in last year’s example of Litecoin.
Bitcoin has stopped at the turn on which the fate of the virtual currency market depends, which suggests that this digital coin is in a special position compared to thousands of other cryptocurrency assets.