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Against the backdrop of an unfulfilled forecast for Bitcoin (BTC) at $100,000 by the end of 2021, members of the crypto community thought about whether they should count on at least a slight increase in the price of the coin in the near future. The editors of BeInCrypto collected the opinions of investors in one review
Many members of the crypto community were waiting for bitcoin to grow to $100,000 by the end of 2021. Despite this, the cryptocurrency set an absolute maximum on November 10, 2021 at a height of $68,789, after which it went into a protracted fall. As of mid-January 2022, Bitcoin is trading near $42,000, down 38% from its high.
hope dies last
One of the main supporters of the theory about BTC at $100,000 by the end of 2021 is PlanB, an analyst popular in the crypto community. He developed a model for predicting the behavior of the bitcoin exchange rate (S2F), the signals of which indicated the prospects for the growth of the digital asset to the designated levels.
Earlier, the editors of BeInCrypto understood the features of the PlanB theory and the nuances of the phases of the movement of bitcoin. Recall that about once every 4 years, a halving occurs in the BTC network – a 2-fold decrease in the speed of mining coins. Changes, against the background of the growing popularity of cryptocurrencies, form a shortage of bitcoins in the market, which, in theory, has a positive effect on the value of the coin.
Despite the fact that PlanB’s S2F forecast for 2021 did not come true, the analyst continues to stick to his theory. He is confident that bitcoin has not yet realized the potential laid in it by the 2020 halving.
According to PlanB, BTC is near local lows and is preparing for a rebound. The push, according to the analyst, will lead bitcoin to growth.
“The rebound is going to be epic,” PlanB wrote on his microblog.
PlanB also published the expected trajectory of the movement of the Bitcoin exchange rate. In his opinion, BTC will be able to update the maximum in March 2022. The peak of the price of bitcoin, within the current cycle, according to the analyst, can be fixed in July-August 2022.
Analysts of the Root Twitter channel largely agreed with the opinion of PlanB. They also believe that Bitcoin’s growth cycle is not over yet. Root saw signs of a trend reversal. According to analysts, BTC has rebounded from local lows and is ready to resume growth.
Jurrien Timmer, director of global macroeconomics at investment company Fidelity, joined the PlanB and Root forecast. According to his observations, there is potential for growth in front of bitcoin. According to the analyst, this is indicated by the signals of the indicators.
Jurien Timmer saw signs of BTC being oversold. In his opinion, the level of $40,000 may become a new local minimum for bitcoin.
Analysts from the whalemap Twitter channel, in turn, warned investors about the obstacles in the way of bitcoin if the cryptocurrency goes up. At the height of $46,500, according to the observations of the authors of the microblog, a lot of “whales” were purchased. Whalemap believes that if BTC reaches the designated level, a number of large investors may arrange a sale of the cryptocurrency.
Bears do not sleep
Some members of the crypto community saw signals that, on the contrary, speak of the potential for a further fall in bitcoin. For example, analyst Lark Davis drew attention to the possible intersection of the 50-day and 200-day moving averages. The indicators reflect the average value of BTC over 50 and 200 days, respectively.
The intersection of the moving averages, from the point of view of technical analysis, indicates the possible beginning of a protracted period of falling asset prices.
Analyst, leading microblog under the nickname Mr. Whale, in turn, is sure that bitcoin has long gone into a falling phase. In his microblog, he sneers at the positive forecasts of investors, against the backdrop of minor BTC corrections.
Recall that earlier experts shared their forecasts for bitcoin for 2022 with BeInCrypto. Find out how experienced members of the crypto community see the future of BTC from our material.
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