BITCOIN Price Predictions

Future Forecasting Group

11 Aug 202405:11

Summary

TLDRThe speaker anticipates a potential breakout in Bitcoin before October, possibly in September, with a target of 90,000 to 105,000 USD. They discuss a short-term correction, emphasizing the need to break above 73 to turn bullish. Concerns are raised about the market's direction post-breakout, suggesting a possible top in early October, followed by a correction period. Gold is also mentioned as being on a similar cycle, hinting at a synchronized market movement. The speaker speculates on broader economic factors that could influence these assets, including potential European events driving a safe-haven rally.

Takeaways

📈 The speaker anticipates a potential breakout in Bitcoin, possibly in September or October, leading to a significant price increase.
🎯 The target price for Bitcoin is revised upwards to around 90,000 to 105,000, suggesting a substantial spike in value.
🗓️ The breakout is expected to occur before the end of October, aligning with the U.S. election timeline.
⚠️ The speaker warns of a short-term correction in the market and advises to watch for signals before becoming bullish again.
📉 To turn bullish in the short term, the market must convincingly pass through the 73 mark.
🔮 There's a concern that after reaching the target, the market could see a top and enter a period of correction lasting a few months.
🤔 The speaker speculates that if Bitcoin and gold are on the same cycle, they could both experience a hard downturn simultaneously.
🌐 The speaker mentions the possibility of European events driving money to safer assets in the U.S., potentially impacting the dollar and stock market.
📊 The speaker has found that gold is on the same cycle as Bitcoin, which could lead to correlated market movements.
📹 The speaker plans to share this analysis on YouTube, despite potential negative comments, as a free sample of their analysis.
🔗 The speaker provides the URLs for their sites, 'bull shift shft bull shift 2020.com' and 'future forecasting group.com', for further analysis on the U.S. dollar, gold, and silver.

Q & A

What is the speaker's current view on Bitcoin's potential movement in relation to the gold cycle?
-The speaker believes that Bitcoin and gold are now aligned on the same cycle, and there's a possibility of a breakout in Bitcoin before the end of October, which could also lead to a significant move in gold.
What is the speaker's prediction for Bitcoin's price target in the near term?
-The speaker predicts that Bitcoin's price target is closer to $90,000, potentially running up to $105,000, based on the current cycle.
What is the significance of November 1st in the speaker's analysis?
-November 1st is significant because, according to the speaker, any significant price movement or 'Big Spike' should be completed before this date, likely due to its proximity to the election.
What is the current short-term outlook for Bitcoin according to the speaker?
-The speaker is expecting a near-term correction for Bitcoin and advises that it needs to break through $73 before becoming bullish again in the short term.
What is the speaker's medium to long-term outlook for Bitcoin?
-Despite the short-term correction, the speaker remains bullish on Bitcoin in the medium to long term.
What is the speaker's expectation regarding the time frame for Bitcoin to reach the $73 level?
-The speaker expects that it might take three to four days before the end of August for Bitcoin to reach and challenge the $73 level.
What external factors might affect the speaker's predictions?
-External factors that could affect the predictions include any 'nasty' developments with clearing houses or banks, or other unforeseen events that could impact the financial markets.
What is the speaker's concern if Bitcoin breaks out and reaches the target price?
-The speaker is concerned that once the target price is reached, and if early sell signals are received, especially in the first week of October, it might indicate the end of the current bullish run for a few months.
What does the speaker suggest could happen to Bitcoin's price if the current cycle ends?
-The speaker suggests that if the cycle ends, Bitcoin could experience a significant correction, potentially falling back to the $60-$70 range.
How does the speaker believe gold will perform in relation to Bitcoin's movements?
-The speaker has found that gold is on the same cycle as Bitcoin and suggests that if Bitcoin breaks out, gold could follow suit, potentially leading to both assets coming down hard at the same time.
What additional market movements does the speaker anticipate in the latter part of the year?
-The speaker anticipates that if the stock market corrects and then starts to rise, it could participate along with the dollar in a rally later in September or October, possibly due to events in Europe driving money to safety.

Outlines

00:00

📈 Bitcoin and Gold Cycle Prediction

The speaker anticipates a potential breakout in Bitcoin before the end of October, possibly in September, which could also trigger a significant move in Gold. The target for Bitcoin is estimated to be between 90,000 and 105,000, aligning with a big spike before the election on November 1st. The speaker is currently expecting a short-term correction in the market, with a need to break through 73 before bullish sentiment can return. The medium and long-term outlook remains bullish. The speaker also mentions concerns about a possible top in the market in early October, after which a correction could last for a few months, potentially revisiting the 60,000 to 70,000 range. Additionally, the speaker plans to share this analysis on YouTube, despite potential negative comments, and directs viewers to their websites for further analysis on the US dollar, gold, and silver.

Mindmap

Keywords

💡Bitcoin

Bitcoin is a decentralized digital currency that operates without a central bank or single administrator. It is the largest of its kind in terms of total market value. In the video's context, Bitcoin is a central subject of discussion, with the speaker speculating about its potential price movements and correlating it with other financial instruments like gold. The script mentions a possible breakout in Bitcoin's price and sets a target of 90,000, indicating the speaker's bullish outlook.

💡Gold

Gold is a chemical element and a precious metal widely used as an investment and a store of value. In the script, the speaker discovers that gold is aligned with Bitcoin on the same cycle, suggesting that the price movements of gold may mirror those of Bitcoin. The speaker anticipates a breakout in gold's price alongside Bitcoin, indicating a potential increase in value.

💡Cycle

In the context of the video, a cycle refers to a pattern or a series of events that recur over a period of time. The speaker uses the term to describe the recurring pattern of price movements in financial markets, specifically mentioning that Bitcoin and gold are on the same cycle, which could lead to synchronized price movements.

💡Breakout

A breakout in financial markets refers to a situation where the price of a security or asset moves sharply upward, breaking through a resistance level. The script discusses the possibility of a breakout in Bitcoin's price, which would be a significant event leading to a substantial increase in value.

💡Correction

A correction in financial terms is a decline in the price of an asset after it has reached a peak. The speaker anticipates a short-term correction in the market, suggesting that there will be a temporary decrease in price before the asset resumes its upward trend. The script mentions that Bitcoin needs to 'get through 73' before it can become bullish again, indicating a specific price level that needs to be overcome for the market to turn positive in the short term.

💡Target

In the context of the script, a target refers to a specific price level that the speaker believes Bitcoin will reach. The target is set at 'closer to 90,000 from 85 and potentially to 105,' indicating a bullish outlook and a significant increase in Bitcoin's value.

💡Signal

A signal in financial analysis is an event or pattern that suggests a particular market trend or action. The speaker mentions looking for a signal that suggests the market has topped out, indicating that they will be monitoring for specific indicators that the upward trend in Bitcoin's price has ended.

💡Oracle

In the script, the term Oracle likely refers to a method or system used by the speaker to analyze and predict market trends. The speaker mentions running 'Oracle numbers' to discover that gold is on the same cycle as Bitcoin, suggesting a reliance on a specific analytical tool or methodology.

💡Stock Market

The stock market is the aggregation of buyers and sellers of stocks, which represent ownership shares in companies. In the video, the speaker discusses the potential impact of the stock market on other financial instruments, suggesting that a correction in the stock market could influence the price movements of Bitcoin and gold.

💡Rally

A rally in financial terms refers to a period of sustained increase in the prices of securities or assets. The speaker anticipates a rally involving the dollar and possibly other assets in the latter part of the year, suggesting a collective increase in value.

💡Safety

In the context of the script, safety refers to the movement of money into assets that are perceived to be less risky or more stable, often during times of economic uncertainty. The speaker suggests that events in Europe could drive money to safer assets, indicating a potential shift in investment behavior.

Highlights

The speaker believes that Bitcoin and gold are now aligned on the same cycle.

A potential breakout in Bitcoin is anticipated before the end of October.

The breakout could happen in September or early October, leading to a significant move in gold as well.

The target for Bitcoin is now closer to $90,000, with a potential run to $105,000.

The speaker suggests that the big spike should be completed before the election on November 1st.

A near-term correction is expected, and the market is currently in a short-term negative phase.

For the short term, the market needs to convincingly break through $73 before becoming bullish again.

The speaker predicts that the market will test the top in August, provided the stock market does not collapse.

If Bitcoin breaks out and closes convincingly above $73, the target is around $90,000 at least.

The speaker will be looking for a signal in October suggesting a top out for Bitcoin.

There is a concern that after reaching the target, the market may experience a correction for a few months.

The speaker mentions the possibility of Bitcoin and gold moving on the same cycle, affecting each other's performance.

If the stock market corrects and then rallies, it could participate in the dollar's rally later in the year.

The speaker speculates that events in Europe might drive money to safety in the US, affecting the market.

The speaker is providing a forecast based on chart analysis and the Oracle numbers.

The speaker acknowledges the risk of sharing this analysis on YouTube due to potential negative comments.

The speaker provides the URLs for his site and the private site for further analysis on the US dollar, gold, and silver.