Bitcoin @ $318K by December 2021?
Citibank managing director Tom Fitzpatrick predicts we will see Bitcoin reach @ $318K by December 2021
Citibank analyst seemingly predicts $318K Bitcoin price for 2021
“Fitzpatrick posits that the period of correction following the last two bull runs has remained stable at around 12 months.
This, according to the analysis, places us squarely in the middle of a bull run which started in early 2019 and is potentially set to run for four years until late 2022.
It could be argued that such an extended bull run would lead to even higher levels, and charting ‘what looks like a very well defined channel’ over the past seven years gives Fitzpatrick his prediction of a $318,000 Bitcoin price in December 2021.
While conceding that this figure may seem highly improbable, he points out that this ‘would only be a low to high rally of 102 times (the weakest rally so far in percentage terms) at a point where the arguments in favour of Bitcoin could well be at their most persuasive ever.’”