BITCOIN Price Predictions

Summary

The 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.