As a seasoned crypto investor with a decade-long journey in this digital frontier, I find the recent analysis by John Bollinger and the price targets for Bitcoin quite intriguing. The Bollinger Bands indicator has been a reliable tool in my arsenal, and seeing Bitcoin breach the upper boundary is indeed an encouraging sign.
According to a traditional method used in analyzing financial markets, Bitcoin (BTC) might experience more fluctuations in its value as its price approaches significant milestones, potentially leading to higher prices.
On December 18th, John Bollinger, inventor of the Bollinger Bands volatility measure, expressed in a post on X that Bitcoin could potentially experience an upward spike or surge.
Bitcoin Bollinger Bands could lead to a “walk up”
On December 17, Bitcoin surpassed its all-time peak of $108,000, breaking through the upper limit established by the Bollinger Bands (BB) indicator. This barrier, which has been unreachable since mid-November according to CryptoMoon Markets Pro and TradingView data, now stands breached.
According to Bollinger’s analysis, this development in Bitcoin is considered optimistic. The Bollinger Bands tool calculates potential price fluctuations and volatility by employing standard deviations around a basic moving average.
For the past several days, the Bitcoin-to-U.S. dollar exchange rate has formed daily candles reaching the upper boundary of the Bollinger Bands. This occurrence might indicate an upcoming reversal towards the midpoint of the bands or unexpected price spikes.
As a researcher, I find myself buoyed by the recent upward surge of Bitcoin’s upper price band. This uptick lends credence to the possibility that the favorable scenario I’ve been considering could soon materialize.
“Bitcoin BTCUSD giving a Bollinger Band tutorial,” Bollinger commented alongside a chart.
“A classic Bollinger Band Squeeze leads to a walk up the upper band.”
As an analyst, I’ve noticed a growing optimism about Bitcoin’s potential for further growth based on its current price. This enthusiasm has led to some lofty predictions for its value by 2025 and beyond.
Bitcoin price may hit $350,000 in 2025
As stated by Mauricio Di Bartolomeo, a key figure at Ledn, it is anticipated that the worth of Bitcoin, when compared to gold, will steadily rise and ultimately hit a point where one Bitcoin is equivalent to approximately 50 ounces of gold.
According to an article published by Bartolomeo on December 19th at Forbes, he predicts that the value of Bitcoin will keep increasing relative to gold and eventually reach a point where it’s equivalent to about 50 ounces of gold.
This would equate to a BTC price of $132,500 at current rates.
He mentioned that he anticipates numerous Bitcoin portfolio suggestions from the research departments of Exchange-Traded Fund (ETF) issuers and financial advisors, suggesting their clients consider investing in Bitcoin.
According to a recent statement from BlackRock, investors might find it advantageous to strategically incorporate Bitcoin as a risk-mitigating tool, comparable to how they utilize gold.
Bartolomeo said:
“If you are a fully allocated investor looking to rotate into a bitcoin position, you may be inclined to downsize your gold position to make room, as you’re investing the ‘digital’ version of it.”
Since 2017, Robert Kiyosaki has been a strong supporter of the top cryptocurrency and recently made a bolder projection.
On December 18th, Robert Kiyosaki posted an update on platform X, where he proposed a fresh goal for Bitcoin, suggesting it might reach a staggering $350,000 by the year 2025.
Robert Kiyosaki’s prediction for Bitcoin is less aggressive compared to Perianne Boring’s projection, who founded The Digital Chamber. Boring estimates that Bitcoin could reach a staggering $800,000, which would significantly boost its market capitalization to approximately $15 trillion, a substantial increase from its current value of over $2 trillion.
According to PlanB, the inventor of the stock-to-flow model, it’s forecasted that Bitcoin could average approximately $500,000 per coin in the year 2025. Moreover, he hinted that the price might even reach a staggering $1 million.
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2024-12-19 22:46