How High Will Bitcoin Actually Go?

Bitcoin has been going absolutely Exponential and the question is how high Can Bitcoin actually go the truth to That answer is that no one will really Know that but by analyzing the price Action of Bitcoin from the previous Cycles and from how it is playing out Right now I believe we could make a very Good educated guess where Bitcoin is Going to be topping out in this bullrun Cycle so in today's video it's not going To be an update on the immin short term But I'm going to be breaking down where I think Bitcoin is heading towards in This parabolic move towards the upside Because right now Bitcoin has created an Absolutely gut candle this monthly Candle is by far the greatest and Biggest monthly candle I've ever seen so Far so first of all let me quickly Explain about why I think that we are Still quite early towards this bull Market cycle and why we are currently Clearly in a bull RM so like you can see Of course the price action has already Been rallying significantly towards the Upside well in fact that retail interest Is still sitting at a low not seen in a Very long time here so while Bitcoin is Searching significantly interest is not Increasing and this is a clear signal That we're still early towards this next Hype phase and we're expecting that as Soon as Bitcoin does decide to be

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Breaking above its almi that probably Retail interest is also going to come Back in towards the market also Currently at the meantime we're seeing That funding rates are actually Skyrocketing across the market but this Is not necessarily a bad thing because Historically speaking once funding rates Are extremely high it means that we are In a very euphoric stage in the market And that basically identifies a Bitcoin Bull Run so indeed we are currently in a Bull run and how it basically happens is That every single four years Bitcoin Creates a Bitcoin Hing because due to The Hing the supply creational Bitcoin Gets cut in half and this happens every Single four years and that is why we Tend to see that every single four years Bitcoin creates an exponential rally Towards the upside and what is very Interesting to see is that basically Every single time once we create this Exponential rally towards the upside Bitcoin is not even close or at least 60% off or higher from its aom high once The Hing occurs but right now this time Around it looks to be that it is going To be different for Bitcoin Bitcoin is Currently sitting around $61,000 in Price and let me quickly calculate this Is an approximately what is it 12% away From Autumn High while the Bitcoin Hing Is still 50 days out so why is this

Happening and we should take this Definitely in account in our analysis Because I've seen some other people Doing some analysis about where Bitcoin Is stopping out in this Bitcoin bull Market cycle but it is clearly different This time around so we should also Calculate the price target for this Bitcoin Bull Run in a different way so Currently it looks to be that Bitcoin is Going to create a new timite before Hing And that would definitely change things Up significantly and of course the main Reason why Bitcoin is probably already Pushing up towards new Alise before Hing Is due to the fact of the introduction Of the Bitcoin spot ETF and due to that We're basically seeing additional buy Pressure getting added in towards the Market and due to that we're already Seeing the price action of Bitcoin going So exponentially towards the upside so Let me right now go in towards the Interesting part of the video where I'm Going to discuss my Bitcoin bullom price Targets and how high Bitcoin actually Can go because that is the real question We want to be answering right how high Can Bitcoin go currently we're sitting Around $61,000 and we've broken above the 0.786 On the Fibonacci and I believe that the Fibonacci retracement is the best tool To identify where Bitcoin is heading

Towards in that next Bitcoin bullroom so First of all let me do some analysis on The previous Cycles to help me explain To you why I am expecting these price Targets I drew the Fibonacci from alumn High towards low in the market and you Can basically see that at the point that Bitcoin broke above the 0.65 which was Of course previously around major Resistance which it has been in every Single cycle like you can see here in The 2019 recovery this one was exactly Profounding resistance and the moment we Broke above it that was the point the Bitcoin Bull Run started and you can see It right here as well the moment we Broke above that level that was the Point the Bitcoin Bull Run started and Let me quickly show you what currently Is happening we first saw a major Rejection from off this level and right Now we're breaking above it and this is An indication the Bitcoin borun is Indeed starting once again so what Happens Bitcoin breaks above the 0.65 And then we see an exponential rally Towards the upside and the question then Remains where is Bitcoin going to be Stopping and where are we going to be Finding that support so first of all Always once Bitcoin breaks above its Autum high it usually goes up towards The 1.618 that is the first extension Level on the Fibonacci extension we tend

To see the price Target getting happens Within four weeks you can see it it Happened here in 2017 of the cycle if I Looking back towards this cycle we broke Above the one and then boom within three Weeks in this time we broke towards the 1.618 and this time around I'm expecting The same is going to be happening and in This cycle the 1.618 Fibonacci is laying Around $100,000 US and I expect once Bitcoin breaks above its utmi this is Going to be reached within four weeks And this will be a price surch of an About $30,000 us happening in just a Matter of three to four weeks which Right now sounds quite ridiculous but This is really what happens once retail Interest is really hitting the market so After that what is the price Target we Should be looking at for Bitcoin so we See that the 1.618 is always the the Level that provides big support in the Bull Run and that is the level where Basically many Traders Get Fooled and Basically miss that final run towards The upside of Bitcoin you can see it Happening here in 2017 and you can also See it happening here while Bitcoin Broke above the 1.618 we after that flip That level exactly into support and then We pushed up higher towards the 3.61 Eight so like we do know every single Time in a Bitcoin Bull Run we tend to Have diminishing returns because

Basically the market cap gets bigger and Of course it needs more Capital to Actually grow still still exponentially So I do believe that we are going to be Having diminishing returns and I do want To be having a realistic Target where I Think Bitcoin is clearly going to be Topping out so in the 2020 to 2021 Bull Run we topped out around to 3618 sitting Around $65,000 so that was a 3.6x from The previous Autumn high of Bitcoin and I believe that we are going to sit in a Somewhat of a similar range for Bitcoin It's not going to be around the 3618 but I think it's going to be a little a bit Less around the tree multiplier so that Will be putting Bitcoin around $176,000 I quickly want to be verifying Is that of course I am not 100% this is Going to be happening this is just an Educated guess on where I expect Bitcoin Is heading towards and also this is an Educated guess on how fast I think Bitcoin is going to be moving because Like you can see once Bitcoin brokes It's AO my right here it moved towards That level in 119 days and if I'm going To be looking at that previous cycle Right here boom once we broke above it It took us 224 days so it's going to be In a range between 100 and 200 days it's Not quite sure when we're going to be Doing it and when we're going to be Breaking above the altime high but it's

Going to be somewhere happening at the End of the summer of 2024 that is at Least what I'm expecting maybe a little Bit later I think that maybe the peak of Bitcoin is going to be found for sure in 2024 maybe it's going to be November Maybe it's going to be August but it's Going to be at least later in this year So this is still not the time to be Panicking in my opinion and the reason Why I do believe that we are actually Going to be hitting new Alise anytime Soon is due to the fact that we actually Broke above 0.65 and the 0.786 and right now I'm actually Expecting four weeks of consolidation Near the almi before then having that Final exponential move towards $12,000 before eventually then pushing Up higher towards 176,000 us do so this is my price Target I think Bitcoin is going to go up to 176,000 in this cycle and I think that The major big support for Bitcoin is Going to be found around 102k here where A lot of Bitcoin Traders are going to Get foled out just like a lot of Bitcoin Traders got foled out in this range Right here so this is my expectation and Now I already hear a lot of people Talking and asking me in the comment Section down below but Rover couldn't we Better then be buying altcoins and I Quickly want to be pointing this out the

Altcoin market is still relatively lower Compared to bitcoin so indeed there are Way more potential for gains so over There I quickly want to be saying check Out this video I uploaded on altcoin Rover where I explained about why I'm Currently selling off some Bitcoin to be Buying altcoins I explained about why I Believe it's a good time to step into Altcoins right now but even more in Depth guys historically speaking once Bitcoin breaks its Ali that is the real Point where you want to be getting into Altcoins because that is the point where The Bitcoin dominance usually tends to Drop exponentially so if you want to Learn more about altcoins subscribe to Altcoin Rover I hope you did learn Something from this video I uploaded Today and guys let me know in the Comment section down below if you like These videos where I talk about these Larger perspective things here in the Market which I believe I know very good So that was it for me on today's update Video and I see you guys back tomorrow On another update video peace out Goodbye

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