$120,000 is the new BTC price target set for the next Bitcoin bull cycle. A popular cryptocurrency analyst says a breakdown of Bitcoin’s past bull market cycles may indicate where the leading cryptocurrency will head next. CryptoWolf tells his 18,600 followers on Twitter that each subsequent BTC bull run has taken longer to materialize than the last.
After crunching the numbers, he believes the Bitcoin price 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 for the return on investment, he says BTC will surge 40x, bringing the price to approximately $120,000.
In other Crypto news today, Bitcoin is flashing ‘Extremely Bullish’ signals, says cryptocurrency analyst and portfolio manager Mati Greenspan. He says Bitcoin may make another move to the upside in the near term. In his latest Quantum Economics newsletter, Greenspan says BTC may enter a brief period of consolidation before making its next move.
“Bitcoin’s technical indicators just keep flashing bullish signals. [On Wednesday] we pointed out a ‘reverse head & shoulders’ pattern that ended up playing out about two hours after I hit send. What’s more comforting is that the breakout occurred on high volume… we can see that continuation with a retest of the neckline in a picture perfect bullish flag pattern.” - Mati Greenspan.
In todays show we also share the latest Ethereum and Ripple XRP news updates you should be aware of.
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