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Tuesday, January 18, 2022

Bitcoin Price Could Touch $333k Parabolically

The price of Bitcoin could, theoretically, target a massive $333,000 by May 2022 if the Federal Reserve in the country provided a perfect storm of low rates. After putting out an uncannily accurate forecast of price on the 27th of December, Filbfilb, the co-founder of Decentrader, a trading platform, drew such astounding conclusions regarding the price of this cryptocurrency the following year.

Bitcoin Could Make A Parabolic Jump 

After following the letter throughout the year, the exchange of BTC/USD does stand to make some steady gains in the next six months if most of the conditions remain the same. The Fed is also pretty poised to make a couple of interest rate hikes the next year, and these are most likely to be priced in, as pundits say- but a surprise tactical change could bring about even further-reaching consequences.

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For FilbFilb, the very analysis of Fibonacci sequences alongside a classically historical price action in previous halving cycles has led us to believe that Bitcoin could effectively surge past a price of $300,000 as a result of most of the Fed officials toning down the rate of hikes. 

In an interview with Cointelegraph, the co-founder of Decentrader, stated that in order for Bitcoin to get there parabolically, it would definitely need a perfect setting of the Federal reserve being quite incapable of raising rates, and heightened inflation, which would lead to a flight to safety in BTC. In a Tweet, FilbFilb stated that the price of BTC was exactly where it had been predicted, and there was not much one could do about it. 

The impact of Bitcoin on most scenarios would heavily depend on the correlation with major stocks, and whether it would be able to rebound from a sudden downturn like one Gammon suggested in a manner that was eerily similar to March 2020. Regardless, most of the popular opinion does remain convinced that the peak is currently not yet in for the cryptocurrency.

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