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Macro investor Dan Tapeiro, just revealed a Bitcoin price chart which suggest BTC soars 38X peaking at $387,000 on May 12th, 2021.
However, he reveals the following conservative BTC price prediction based on this chart:
“Tremendous long term Log Chart of Bitcoin projects up 5-10x on this run. Just breaking up NOW. Should last a few years as 2.5yr consolidation is fantastic base for catapult up. Break of old highs will have explosive follow through. Time to sit and be patient.”
The investor goes on to share:
“I spent 25 yrs looking at charts all day. I would not say that I was a technical analyst but I did learn that certain patterns repeat in obvious ways. When you can identify those patterns it can be very profitable.”
Bitcoin is copying what it did a year before its $20,000 all-time highs, and the new bull market has been here for over a year already.
That was according to popular statistician Willy Woo, who this week shed further light on Bitcoin’s current price gains.
Woo: Bitcoin “early main bull phase” began recently In a series of tweets on Aug. 10, Woo continued a debate begun by Bitcoin developer Jimmy Song, who himself debated the topic in the latest issue of his Tech Talk blog post series.
“Yes. The bull market really started April 2019,” Woo responded, continuing:
“What’s started recently is the early main bull phase, it’s Q4 2016 all over again, but different dynamics and themes at play.”
BTC/USD hit $12,000 twice in recent days, managing to hold support at $11,500 in a long-awaited show of strength that has given many analysts cause for long-term optimism.
Despite failing to flip $12,000 to support, Bitcoin remains firmly bullish, both sentiment and technical fundamentals-based evidence suggests.
For Woo, the composition of the market formed a major difference in maturity between this year and 2016 — maturity which has historically dictated both price trajectory and volatility.
“One of the themes is the legitimization of BTC for large institutional funds, and also the easy accessibility to buy crypto for the masses with the likes of square cash, paypal, and not to mention the one I’m working on LVL which is real regulated banking integrated with crypto,” he continued.
In other trending Bitcoin News today:
Four Altcoins Could Break Out As Ethereum-Based Ecosystem Goes Parabolic, According to Messari Researcher
Messari researcher Ryan Watkins is shining the spotlight on four small-cap crypto assets in the Ethereum ecosystem.
In a series of tweets, Watkins says the coins could be part of a new decentralized finance (DeFi) paradigm that breaks out alongside the second-largest blockchain.
“As Ethereum faces challenges scaling and interest in DeFi goes parabolic, there hasn’t been a better time for a parallel DeFi ecosystem to break out.”
Watkins says Terra (LUNA) generates the highest transaction fees after Bitcoin and Ethereum.
The Messari researcher highlights the fact that Terra is on track to print $3.8 billion in annualized transaction volume, allowing the coin to pocket $26 million in transaction fees.
Watkins says from a fundamental standpoint, Luna is a potential big winner.
“If LUNA were to be valued like it’s peers by year-end, it would imply as much as a $3.53 price – 10x current.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Tremendous long term Log Chart of #Bitcoin projects up 5-10x on this run.Just breaking up NOW.Should last a few years as 2.5yr consolidation is fantastic base for catapult up.Break of old highs will have explosive follow through. Time to sit and be patient.
H/T @RaoulGMI pic.twitter.com/08bIpZ6i9h
— Dan Tapiero (@DTAPCAP) August 11, 2020
Yes. The bull market really started April 2019. What’s started recently is the early main bull phase, it’s Q4 2016 all over again, but different dynamics and themes at play. https://t.co/8fZgO3Upu9
— Willy Woo (@woonomic) August 10, 2020
What a difference a month makes! In July (btc $9000), 43% of my followers thought btc would stay below $55k until Dec 2021 (i.e. 43% did not believe S2F model). Now (btc $11500) that is 30%. So 25% in that group changed their mind. And 51% thinks #bitcoin > $100k before Dec 2021. pic.twitter.com/GgmIu1QzVr
— PlanB (@100trillionUSD) August 10, 2020
https://cointelegraph.com/news/bitcoin-price-is-in-early-main-bull-phase-circa-q4-2016-willy-woo