Bitcoin Analysis Predicts A New Cycle High Of $120K In 2022
Market analyst, Crypto Wolf, recently gave his take on the future of Bitcoin based on the analysis of the price cycles Bitcoin has undergone thus far. This informs his prediction of $120k in 2022 if the next cycle follows the pattern the past three have exhibited. His forecast also takes into account the deviations that have been recorded from cycle to cycle.
Notably, cycles are getting longer as the market becomes more complicated, with new traders joining in every cycle. The ROI since the price bottom is decreasing as each bottom gets higher than the price bottom from previous cycles.
Despite the decreasing ROI, the profits are still lucrative. In his prediction, Crypto Wolf estimates a 40X price increase since the current lows (in the current cycle).
– Bull cycles are getting longer.
– ROI since bottom are decreasing.
Conclusion of cycle IV:
Next top: ~ 1400 days since bottom. ETA December 2022
ROI: ~40X since bottom, ~120k $. pic.twitter.com/vN8LuRGlLM
— CryptoWolf (@IamCryptoWolf) November 27, 2019
The latest prediction on blockchain is among many of 2019, all seemingly pointing towards a higher blockchain price. What differs in these predictions are the timelines and factors that will influence the higher price.
Some expect Bitcoin to perform better in the short-term while others like Crypto Wolf establish a long-term prediction.
The analysis provided by Crypto Wolf is quite impressive. However, some are critical of the study.
When comparing to the market landscape of just a couple years ago, how is this cycle chart even relevant anymore when there are so many new variables today such as a much greater amount of volume and institutional players??
— Crypto Slimer [I AM giving away ETH] (@CryptoSlimer) November 27, 2019
The concerns highlighted in the tweet are valid. The number of variables that have to be accounted for is increasing by the day. The variables will either work towards confirming the prediction or putting it into question.
From the various predictions analysts have given, they seem positive that the increasing variables will only work to improve the price of Bitcoin.
Featured Image Source: Nature Wallpapers
Sal Miah is the senior editor at Blockspectator News and is a regular contributor to a variety of cryptocurrency news websites and projects. He has written hundreds of articles on numerous topics related to blockchain and also has a special interest in financial markets. Contact him directly at email@example.com