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A crypto analyst who predicted a 50% drop in the price of Bitcoin back in August is mapping out BTC’s potential path through 2021.
Roger Quantrillo tells his 5,900 followers on Twitter that he’s expecting BTC to stage a major comeback this year and rise to $14,000.
He believes Bitcoin is poised for a long-term bull run and will post a new all-time high of $100,000 to $110,000 by December of 2021.
After that, Quantrillo expects a correction back down to around $30,000, followed by an eventual rise to more than $160,000 by 2024.
Quantrillo’s big prediction is based on a curved trendline that traces Bitcoin’s prior highs and lows to forecast future cycles.
BITCOIN (BTC/USD)
Most realistic scenario:
1. Bitcoin will never go below 5.8k again
2. Max. Price until end of 2020 = 14k
3. Next ATH will be around 100-110k in Nov/Dec 2021
4. Correction should put us around 30-40k@moonshilla whats up BigBrotha?#bitcoin #btc #btcusd pic.twitter.com/hsZW9SZuQG— RQuantrillo (@rogerquantrillo) October 2, 2019
Back on August 8th, Quantrillo predicted Bitcoin’s price was on track to retrace to as low as $7,500.
If Bitcoin has found a bottom, he wasn’t too far off, with BTC hitting $7,848 on September 30th, according to CoinMarketCap.
Meanwhile, Bitcoin maximalist Tone Vays is pleading for caution in the short term. He says a perilous Bitcoin plunge may still be on the horizon.
[adinserter block="1"]On a new episode of Trading Bitcoin, Vays says he’s still waiting for at least a 50% correction from Bitcoin’s yearly high of nearly $14,000.
“I continue to wait for over a 50% correction… the moment Bitcoin went exponential into $14,000, Ugly Old Goat and I did a video saying that because of the way it went up and how quickly it went up, we were now nervous for an 80% correction off of the $14,000 pop.
We are close to a 50% correction. An 80% correction from $14,000 is actually a little lower than $3k. So that takes us down to new lows. That is what I fear. Do I think that’s going to happen with a high degree of probability? No, I don’t. I still think Bitcoin can stay above $7,000 but touch the $7,000 vicinity, $6,900-ish.
But would it go against my models; would it go against my trading knowledge; would it go against anything I’ve done in the last 15 years in the markets – to see Bitcoin go to $2,900 before a new all-time high? And the answer is absolutely not.”
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