Bitcoin analyst predicts $250K BTC price top by January 2022

bitcoin price target $250,000 january 2022
Bitcoin $250,000 January 2022 price prediction. Image by Marco Verch via Flickr
  • Bitcoin is on track to post massive gains in Q1 2022.
  • The BTC/USD parabolic rally price pattern has been holding since 2011.
  • More $100,000 price calls abound.

KOLKATA (CoinChapter.com) – Bitcoin price is on track to trade within the $228,000 – $250,000 range by the end of January 2022, TechDev asserted. The entrepreneur, and Twitter-based crypto analyst, superimposed the top cryptocurrency’s previous parabolic runs on the ongoing BTC/USD market momentum to arrive at the figure.

The pair’s rallies to every bull-cycle top have been steeper than the preceding mid-cycle runs.

“Final #BTC impulse has ALWAYS been 5 degrees steeper than the run-up to the mid-cycle peak.

Holding true so far.

If it continues, and the 228K-250K window is hit (2 most historically reliable fib-based targets)…

It would happen end of Jan. Will be interesting to watch.”

TechDev extrapolated the current BTC price chart at a 60-degree angle but observed that the actual run-up could exceed the said angle.

bitcoin, Bitcoin analyst predicts $250K BTC price top by January 2022
Bitcoin’s $250,000 trajectory. Source: TechDev/Twitter

“Yes, if the currently-fit logarithmic regression band ends up being extrapolative and indeed marks the top, we’d of course hit it sooner. Around mid-Dec. Or this leg could exceed 60 degrees. Things to monitor, along with the key indicators above all else.”

said TechDev

Upcoming Peak Above $100,000 But Below $300,000

While TechDev worked out a maximum $250,000 price target for the benchmark cryptoasset, Benjamin Cowen took a more conservative approach to share his near-term BTC target. Pulling out a November 2019 analysis when Benjamin first started talking about the top digital asset, the YouTube-based crypto market analyst concluded that at least a close above $100,000 is nigh.

Related: A $100K Bitcoin looks possible as VanEck prepares to launch BTC ETF next week

“My opinion is that it is highly likely that Bitcoin does rally above a $100,000 dollars.”

But Benjamin also believes that it is highly likely for the next BTC market cycle peak to be below $300,000.

“The only reason I say that is because I want to be conservative, and assume that the returns this cycle cannot match what happened last cyle.”

observed Cowen

However, the widely followed analyst also stressed the points that he could be overlooking. Bitcoin’s first local top in 2013 was $263, after which the largest cryptocurrency rallied to $1,151, a 5X run.

“What is Bitcoin does 5X from this ($64,800) local top? Ok, if it does a 5X from this local top, you know 60k times 5 is 300,000 dollars. So, if it does that, then hey! We dont’ have diminishing returns, and Bitcoin’s going to $300,000 whether I like it or not.”

Nonetheless, that would be a highly optimistic call which the crypto YouTuber chose to refrain from.

BTC/USD Technical Setup

BTC/USD spot prices stabilized after a market-wide selloff post the pair’s ascent to a new all-time high. The dip occurred largely due to market entrants who might have entered during the April 2021 euphoria phase and looked for cashing out opportunities. Plus, profit-takers who anticipated a pullback after Bitcoin sauntered into overbought regions.

Related: Sell the news? Bitcoin drops from $67K to $62K in just a day as BTC ETF hype fades

Buyers showed up after the drop, but the sentiment remains bearish with the moving average convergence divergence (MACD) indicator marking the beginning of the “red cycle.” BTC/USD pair dropping to the $56,000-59,000 range would make up for a decent “buy the dip” opportunity.

Crypto analyst Michael van de Poppe advises buying the Bitcoin dip

Bitcoin could correct down to the low $50,000 prices (near the 50-day moving average wave). But as TradingView-based analyst TradingShot opined, an upward move to spot rates above $100,000 would follow soon.

Related: Bitcoin analyst predicts BTC price crash to $50K in Q4 despite $100K consensus

Bitcoin eventually would move to $100,000.
Bitcoin eventually would move to $100,000. Source: BTCUSD on TradingView.com

How useful was this post?

Click on a star to rate it!

Related Articles

Our Partners

SwapCoin.com RapidCoin.com ChangeNOW.com Paybis.com