It’s a very good start to the fourth quarter of 2021 since Bitcoin (BTC) has already gained 28% this month. Analysts are bullish on BTC’s price performance in Q4 2021 and expect price levels of around $ 100,000. Cryptanalyst Lark Davis shared several charts that show that Bitcoin’s bull run will not only stop at $ 100,000, but will go much higher.
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The bitcoin bull run will go much higher than $ 100,000
PlanB’s Stock-to-Flow model shows that BTC will reach a minimum of $ 135,000 by the end of December 2021.
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The cryptanalyst further compared previous bull runs in 2013 and 2017 and noted:
“If we take into account the lengthening cycle and the law of declining yields, then we could record a price of up to 200 thousand for this cycle sometime at the end of 2021. dollars, but probably more in early 2022. “
During both bull runs 2013 and 2017, the price of BTC increased by more than 300%. “If we assume the same results, then it will approach 280k, if we assume declining yields, then 200k,” he added.
RSI
The relative strength index (RSI) is one of the important indicators for analysts for correct predictions. During the bull runs of 2013 and 2017, RSI doubled to 90, twice. In this cycle, the RSI level exceeded 90 only once.
Davis also compares current developments with the gold rush of the 1970s. If Bitcoin continues to monitor yellow metal performance, then we are looking at a peak anywhere above $ 200,000.
Cryptanalysts note that they may be wrong. However, Lark Davis is largely convinced that Bitcoin will certainly reach six numbers, ie at least $ 100,000.
In addition, he also notes that altcoins reach a peak 2 to 3 weeks after the peak of Bitcoin. But as a warning note to investors, Davis also adds:
“Remember that at some point the music stops playing and the bear market can be brutal. Have a plan!
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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
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