Bitcoin Phasal Price Point Peaks: 2011 = $31; 2014 = $1,177; 2017 = $19,764; 2023 = $150,000 BTC/USD?
Could Bitcoin Reach $150,000 In Its Next Cycle?
The crypto community is constantly trying to guess how Bitcoin will fare in the market. Now, some people believe that the price of Bitcoin can reach new all-time highs in its new cycle. Will the token be able to reach the seemingly insane value of $150,000 USD?
In order to understand this, we have to look at the former “cycles” that BTC already had. Some crypto traders affirm that the token has many cycles in which its price, which is down, tends to go up until it reaches a new peak and its value fall all over again (but it stays in a higher base than it was at the beginning of the cycle).
According to traders, the first cycle was finished in 2011. Bitcoin, which was being sold by cents when it started out, was being priced at $32 USD. The peak of the second cycle was in 2014 when the prices of the token reached $1,180 USD, a huge price at the time.
However, 2014 has also seemed the fall in price, which made the token lost over 80% of its price and to fall below $200 USD. Then, we have seen its newest peak at around $20,000 USD during the third cycle, which was also followed by a recession very similar to the one we have seen in 2014. BTC has lost 80% of its value again and now the currency is struggling.
The Analysis Of Josh Rager
An analyst called Josh Rager has made a prediction that the next peak of Bitcoin will be 2023 and that the price of each token will be of more than $150,000 USD. When you look at his charts, it seems like something that could happen, not the ravings of a lunatic.
His main argument is that the Bitcoin downtrend will start to happen in 2020. While this not bode very well for 2019, he believes that the crypto winter will finally be over when the block rewards are halved. In fact, this is exactly what happened in the two last bull runs.
This will mean that we will probably have a very meek year now, but this also makes it a very good entry point in the crypto industry. Prices will remain more stable now, so there is less danger in entering the market and waiting for the new bull run.
According to the trader, we may see new all-time highs for crypto in 2021, which will prompt the next bull run, which will probably last until the beginning of 2023, when the prices finally reach $150,000 USD if the analyst is correct. This would probably be followed by another recession and then another bull run many years down the road, which is the pattern that Bitcoin is following so far.
At the moment, Bitcoin is struggling to pass the $4,200 USD barrier. The token gets near it, but it generally bounces off every time.