Bitcoin Could Target $200,000 This Cycle,?

Bitcoin is $10,646 at the moment, coud we see $200K sooner than we thought (A LOTsooner!)?

Bitcoin Could Target $200,000 This Cycle, According to Crypto Analyst Nicholas Merten – Here’s How

“If we look at the last cycle from the stock to flow, what we’ll realize is that after the halving initiated back here in the summer of 2016, as the fair value of Bitcoin actually went up into July of 2017, this is basically where the market should have topped it, around $5,000. It should have topped out in a year after the halving in July of 2017. But it didn’t. What happened was we had a delayed response here and what happened was we actually got up to the fair value range in October of 2017, and then massively overshot just like we did back over here for the stock-to-flow model towards $20,000.” According to Merten, Bitcoin’s delayed response to the timeline as predicted by the S2F model suggests that BTC will likely experience an expanded cycle where it can potentially go well above the model’s target of $100,000. “I think this is going to give us the range to go beyond $100,000 possibly, maybe even towards $150,000 – $200,000.”

Full article here: https://dailyhodl.com/2020/09/23/bitcoin-could-target-200000-this-cycle-according-to-crypto-analyst-nicholas-merten/

Master Asked on September 24, 2020 in Bitcoin.
Add Comment