Bold Predictions for the Peak Price of Bitcoin Bull Market
Bitcoin price, a feast of psychology. In this round of bull market, once it breaks through psychological shackles, the price may have no upper limit, hundreds of thousands of dollars is not a dream.
The last bull market peaked at 70,000, and just a few months ago, 60,000 felt expensive. It has been consolidating in the 60,000 - 70,000 range for a long time, all due to psychological price levels. Now breaking 90,000, new entrants regret not buying more at 50,000 - 60,000, as they believe this is a low price, holding it must be profitable, how could they easily sell? Just like the previous bull peak at 17,000 and the previous bear bottom at 16,000, psychology drives price trends.
Where will this bull peak? It depends on the enthusiasm of entrants and the number of exits. When everyone knows that holding Bitcoin long-term (over a cycle) rarely incurs losses and that dollar-cost averaging (DCA) in a bear market yields considerable returns, the consensus becomes: selling Bitcoin is foolish. At that time, supply will drastically decrease, buying pressure will surge, and prices will break through psychological limits, charging towards madness.
Bull peaks often end due to black swan events and emotional reversals. If the next bear market bottom is around 50,000, this bull market peak may reach 200,000 dollars. After the peak, there may be a drop back to 50,000 within a year or two, and then gradually rise again, waiting for the dawn of the next bull market.
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