New Bitcoin Bull Cycle To Take BTC To $120,000
The crypto market looks good today, with the most important coin trading in the green.
Bitcoin is no exception, and BTC is priced at $7,779.77 at the moment of writing this article.
Optimistic Bitcoin-related predictions are flooding the crypto space again.
A popular crypto analyst said that a breakdown of BTC’s past bull market cycles could be an indicator of where the crypto will be heading next.
CryptoWolf said that each one of the subsequent BTC bull runs had taken a bit longer to materialize then the previous one.
He believes Bitcoin “will reach its next top in December of 2022, about 1,400 days after its primary bottom of $3,220 in December of 2018,” as cited by the Daily Hodl.
BTC to reach $120k
The online publication continues and says that regarding the return on investment, he says BTC will surge by 40 times, and BTC's price will eventually reach approximately $120,000.
– Bull cycles are getting longer
– ROI since bottom are decreasing
Conclusion of cycle IV:
Next top: ~ 1400 days since bottom. ETA December 2022
ROI: ~40X since bottom, ~$120k.”
Avoiding Dark December
A few days ago, we were writing that Willy Woo crypto analyst believes that BTC has to hit $8,300 by the end of this month in order to avoid a bearish December.
But Woo said that he actually “almost” wants it to miss this mark.
“We’d need to close above $8,300 by the end of the month (4 more days), or we’ll likely have a bearish December to test new lows,” he said.
He continued and explained that “2020 will be a good year, I almost want it to go lower to collect cheaper coins.”
Well, the month is over, and BTC has not been able to hit this figure, but, on the other hand, there are a few hours left, so who knows what can happen by the end of the day, considering the fact that BTC is trading in the green.
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