September 8, 2021
For those paying attention to the cryptocurrency market over the last several weeks, then you’ve noticed a large battle looming at the USD 50,000 mark for Bitcoin (BTC). Bitcoin bulls and bears see this as a key psychological level and could determine the future of the crypto market throughout 2021 and even 2022. Analysts are positive about the Bitcoin price prediction though even as BTC struggles to confidently stay above $50,000. However, they say a few key announcements this week may give the most popular cryptocurrency the push it needs to reach record highs.
While some altcoins continue to show extreme bullish momentum, Bitcoin has been dealing with an internal battle in the first few days of September. A battle that could potentially push BTC to record highs if the outcome plays out correctly. The reason why BTC is struggling to push past $50,000 is due to the immense selling pressure at that number.
In cryptocurrency, round numbers tend to be very important psychological levels of support and resistance. This is especially true when that round number is close to the previous all-time high. In April, Bitcoin reached that record number of around $63,000 before plummeting almost 50% in months. August saw Bitcoin make a resilient rally and now with the Bitcoin bulls in firm control once again, a new test of that old all-time high is in the Bitcoin price-prediction models.
Twitter analyst Pentoshi says that a
“break above 50K=58K-60K to follow. Sitting above the 200D MA which is now acting as support.”
From there, Bitcoin is expected to make another run at its old all-time high and if it’s able to blow past that, it will enter the price discovery mode which could well into the $100,000s.
Price discovery is when an asset surpasses its previous all-time high. Since there is no past price data in the new range to make an accurate prediction, the price essentially is in free ascent, seeing how high it can go before it’s met with resistance--often inspired by fear. What exactly will this discovery get us to though? Analysts predict it’s not at all unreasonable to see 2-3x gains shortly once $63,000 is breached. That would put Bitcoin at around $180,000 for 1 BTC.
This is a substantial figure considering it is significantly higher than the $135,000 target outlined on the stock-to-flow model, a Bitcoin price prediction model extremely popular amongst crypto enthusiasts. Optimistic predictions aside, September is historically a poor month for Bitcoin and cryptocurrency in general. So what makes this month any different? Well, institutional money has big plans in mind this month according to CEO at BrightScope and Digital Assets Data Mike Alfred. According to Alfred several “large and important institutions" bought BTC over the summer and they will announce their buy orders between September 7 and November 19th.
On the short term bearish side of things, Bitcoin projections look at support around $48,631 and $47,229. If it breaks through that, then a retest of $40,000 could be in the cards. For the Bitcoin long forecast though, it seems like more Twitter analysts are sharing extreme bullish scenarios.
While $180,000 seems like an extremely optimistic Bitcoin price forecast in 2021, some analysts say that is just the beginning. Twitter analyst Ken Standfield, inventor of the KS Price Model, believes we could see a Bitcoin price over $400,000 this cycle.
The KS Model (pictured above) is based on institutional price psychology and is centered around the fact that bull cycles are getting longer each cycle. While most analysts seem to think the Bitcoin bull cycles are the exact same time frame after Bitcoin halving starts, Ken Standfield shows how he slowly elongates each cycle, meaning this current cycle could into next year and make the Bitcoin price in 2022 4x from its current price.
Investors should note, prices always move in waves so if the above is true, be prepared for sharp price movements in either direction. Also please remember these analysts are not fortune tellers. They merely provide us with Bitcoin price speculations based on market psychology and previous price action but always do your own research as well and invest carefully. No one can predict the future.
So far, we’ve seen a few bitcoin future predictions that all suggest more bullish activity is coming soon to the crypto market. Are you prepared? Thankfully, YouHodler has several tools to help you maximize your HODLing, stacking and trading efforts on our platform. Here are a few suggestions:
Dollar-cost averaging (DCA): DCA involves buying Bitcoin (or any other asset) consistently over time. For example, you could say you want to buy $100 worth of Bitcoin every Friday. It’s up to you how much you want to invest but the key point is you do it regularly as a way to hedge yourself against volatility. YouHodler’s fully functional conversion tool helps you instantly convert fiat to crypto if you want to buy Bitcoin.
HODLing: If you already have enough Bitcoin for your taste, that’s fine. Just keep holding through the volatility. However, if you HODL on YouHodler you can earn a nice 4.8% extra per year of free Bitcoin. This compounding interest takes no effort other than depositing and holding on YouHodler. Funds are never locked and you can withdraw anytime.
Multiply BTC: YouHodler has two tools for multiplying your Bitcoin. Turbocharge is best during bull runs as it helps you multiply your BTC using a chain of loans. Borrow more crypto to buy more crypto. Later, when the market rises you can pay off your loan and keep all additional profit left over. Multi HODL works similarly except you can take a loan to buy and sell crypto. This gives you opportunities to profit no matter what the crypto market is doing on any given day.
Bitcoin is an unpredictable beast at times. Even though bitcoin price prediction models are positive in 2021, it never hurts to protect your portfolio. YouHodler has everything and more needed to help you out. Check us out today and see what we can do for you.
Editor-in-Chief of the YouHodler blog. Connect with him about writing techniques, cryptocurrency, and music.
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