These Charts Show The Next Bitcoin Bull Run Isn’t Stopping At $100K, But Far Beyond
It’s a very good start to the fourth quarter of 2021 as the Bitcoin (BTC) price has already gained 18% so far this month. As of press time, Bitcoin is trading 4.37% up at a price of $51,303 and a market cap of $966 billion.
Analysts are bullish over the BTC price performance in Q4 2021 and expecting $100K price levels. Crypto analyst Lark Davis shares multiple charts showing that the Bitcoin price rally isn’t just stopping just at $100K but will go far beyond.
The Bitcoin Stock-to-Flow model from PlanB shows that BTC will rally to a minimum of $135K by the end of December 2021.
Furthermore, the crypto analyst draws a comparison with the previous bull runs of 2013 and 2017. He notes:
If we consider the lengthening cycle and diminishing return theory then we could see Bitcoin going up to 200K for a blow off top for this cycle sometime in late 2021, but more likely early 2022.
During both the bull runs of 2013 and 2017, the BTC price rallied in excess of 300%. “If we assume same results then that gets to closer to 280k, if we assume diminishing returns then 200k,” he added.
Looking at the Bitcoin Monthly RSI
The relative strength index (RSI) has been one of the important indicators for analysts to make the right predictions. During the 2013 and 2017 bull runs, the Bitcoin RSI attained a double peak over 90 levels, twice. In this bull cycle, the RSI levels have crossed 90 only once.
Davis also compares the current Bitcoin price rally to the gold rush of the 70s. If bitcoin has to follow further the performance of the yellow metal then we are looking at a top anywhere above $200K.
The crypto analysts note that he holds the right to be wrong with his predictions. However, Lark Davis is pretty much confident that Bitcoin is surely hitting six figures i.e. a minimum of $100K from here.
Furthermore, he also notes that altcoins will peak in 2 to 3 weeks post the Bitcoin peak. But as a cautionary note to investors, Davis also adds:
Remember at some point the music will stop. Don’t be caught dancing naked by yourself holding a stinky fish. Take profits on alts! I remain bullish on all of crypto for this decade, but a bear market can be brutal. Have a plan!
- CFTC Launches Initiative to Allow Stablecoins as Collateral in U.S. Derivatives
- Fold Launches Bitcoin Credit Card with Stripe and Visa Partnership
- SEC Approves Grayscale’s Ethereum ETFs Under New Generic Listing Standards
- Breaking: Jerome Powell Cools Further Rate Cut Expectations, Bitcoin Drops
- Senate CLARITY Act Markup Delayed Amid Looming U.S. Government Shutdown
- PEPE Coin Price: Analyst Sees Breakout-Retest Pattern- Will It Surge Over 230%?
- Shiba Inu Price Eyes 25% Rally as Outflows Jump and Whales Buy 62B Coins
- XRP Price Rises on mXRP Launch, Recovery Ahead?
- Solana Price Prediction: $836M Whale Transfer Spark Fear of $200 Retest Before 62% Rebound
- Bitcoin Price Prediction: $150K in Q4 as Gold’s ATH Momentum Sets the Tone
- PUMP Price Forecast: Whale Buys 1B Tokens as Bullish Pennant Signals 65% Breakout
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
