Bitcoin, this pattern says that the price will reach $200k
Today we will try to analyze one interesting model. Most people probably already know that bitcoin is cyclical. Right now it is very likely that the price is approaching the end of its fourth cycle.
Let's take a tool like Fibonacci. If you stretch the Fibonacci from a market high to its low, the next high always came at 2.272.
This does not mean that the high now will be at 2.272. You can't build a statistic on two examples. This is just an interesting pattern. It will be interesting to see if this mark will be high in this cycle.
Right now that mark is at $200,000, do you like that idea and do you think the price will reach those marks?
Let's take a tool like Fibonacci. If you stretch the Fibonacci from a market high to its low, the next high always came at 2.272.
This does not mean that the high now will be at 2.272. You can't build a statistic on two examples. This is just an interesting pattern. It will be interesting to see if this mark will be high in this cycle.
Right now that mark is at $200,000, do you like that idea and do you think the price will reach those marks?
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