Bitcoin Prediction: BTC To Reach $160,000, Says Analyst Who Predicted The BTC Breakdown

The crypto market is currently in the middle of a strong correction. This does not stop optimistic predictions from popping up.

Bitcoin to reach $160k

Back in August, a crypto analyst predicted that BTC would fall by 50%, and he’s now back. He’s mapping out BTC’s potential path through 2021.

The man is Roger Quantrillo, and he just told his 5,900 followers on Twitter that he’s expecting BTC to stage a massive comeback this year and surge to $14k.

He also believes that BTC is poised for a really long0term bull run and will reach a new all-time high of $100k or $110k by December 2021.

He said that after that, he’s expecting a correction back down to $30k, which will be followed by a rise to $160k by 2024. These are some pretty bold predictions, we have to admit.

Back in August, he predicted that BTC’s price was on track to retrace to as low as $7,500. And we all know what happened not too long ago.

Tone Vays is cautious on the short term

Vays says that a further drop in the price of BTC is on the way.

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,” Vays said.

He continued and explained that “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.”

At the moment of writing this article, BTC is trading in the red, and the most important coin is priced at $8,135.39.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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