There have been more price predictions for Bitcoin at the end of 2021, but now, more and more optimistic forecasts pop up.
A popular crypto analyst and trader is updating his big price prediction for Bitcoin (BTC) in 2022.
New BTC price prediciton is out
The pseudonymous analyst known as TechDev just revealed that a cycle top for BTC is coming at some point this year.
He is using two-week candles on a chart that incorporates logarithmic growth curves and Fibonacci levels – he said that a close above the middle level will likely act as the trigger to send Bitcoin on a parabolic rally above the $200,000 mark.
“After more research, I’ve come to believe this next (possibly final) impulse will come after a two-week close over the cycle 1.618, as they always have. If this happens, it may provide a timeline estimate, but it honestly does not matter, and I don’t plan to focus on it.”
He also made sure to explain the fact that BTC will follow previous cycles by launching off the 1.472 Fibonacci level into a final leg that extends well into the six figures.
“Some believe the cycle already ended, some believe it tops in Q1, some later, some never. I believe in data-based probability with invalidation points, which to me suggests the top is not in, but it will be this year.”
At the moment of writing this article, BTC is trading in the red and the king coin is priced at $47,369.
BTC hash rate hits new ATH
Bitcoin entered 2022 with successful moves, and one of them has to do with the security of the network.
Check out the post that Anthony Pompliano shared on Twitter.
Bitcoin’s hash rate opened 2022 by hitting a new all-time high.
The decentralized network has never been more secure.
— Pomp 🌪 (@APompliano) January 2, 2022
Make sure to keep your eyes on the crypto market.