Bitcoin has just broken its ATH (All Time High). This news is a bomb, and it announces the return of a bull market like the one at the beginning of the year. Fasten your seatbelts, and secure your positions, because next time we talk Bitcoin could be at $ 500,000 …
Bitcoin has Broken its ATH!
- Bitcoin breaks its $ 64,800 ATH
- The breakout of the ATH is a Major bullish signal for all market players
- In particular the institutional ones who are dominant in this bullrun
- Predictions have all been revised up, with Cathie Wood talking about $ 500,000 BTC
- The next few weeks will make history
When bitcoin hit $ 64,800, we wondered if this was the end of the bull run. And many analysts did not hesitate to say that we would have a bearish wave of several months or even years before returning to current levels. Among these analysts, some spoke of a price of 25,000 dollars for the end of the year. The ATH is the sensitive point of the asset: if the price continues to mark highs, in technical analysis and in trading the movement is considered to be bullish. If, on the contrary, the price had gone down, it would have been said that we are in a downward movement.
Technical analysis clearly tells us that we are on for a new bullish wave. But how important is it? Well, this is very important. You have to differentiate between the different players to fully understand what is happening in the market. We are currently in the bullrun institutional investors. That is to say that the majority of trade volumes, the biggest fish in the pond today are investment funds, banks and even states.
Billions of dollars are coming to BTC
However, these people have two characteristics. First, they do not invest pocket funds and red coins. They necessarily buy in bundles of at least $ 10 million. And to the maximum? Well let’s do the math! If they have billions to invest, they will invest billions …
Second important characteristics of these players, and certainly the most important today: the men and women who buy on behalf of these investment funds do not buy on a whim, on a FOMO. Clearly, they don’t invest with their emotions like you and me. Rather, they will secure each of their positions with technical analysis and fundamental analysis.
Technical analysis is very simple. You shouldn’t get confused in your brain with chart figures, accumulation triangles and all that stuff. It should be understood that the basis of technical analysis is simply whether the movement is bullish or bearish. When it’s bullish, we buy. When it’s bearish… we sell.
Why is the ATH Breakage such an important event?
I told you it was simple! And how do you know if a move is bullish or bearish? Quite simply, looking at the peaks and troughs. The peaks are called “highest”. And the hollows, the “lowest”. When the price is higher than the previous “high”, then the movement continues to go up, and therefore the movement is bullish
And that’s what just happened with Bitcoin. Today, October 20, 2021, Bitcoin has reached an unprecedented price in all of its history. And more particularly, higher than the record for the month of May. So this information tells us that Bitcoin is back on an upward movement, which will last at least up to $ 100,000.
And the most important thing is that the institutions have understood this too. In the coming days and weeks, expect to see upside moves like you’ve never seen before.
Technical analysis and price prediction of Bitcoin 2021 2022
What areas can be considered for the future? A lot of prediction has gone forward. While we were talking about a maximum of $ 60,000 bitcoin two years ago, today the massive adoption movement speaks for itself. Moreover, it is not the search for gain that drives the big fish today. But rather a set of extremely important macroeconomic factors. For example, protection against inflation.
This is one of the points that has pushed famous billionaires like George Soros to buy Bitcoin in secret for several years.
We have a few coins, but not a lot, ”said Dawn Fitzpatrick, CEO of Soros Fund Management
I’m not sure Bitcoin is only considered a hedge against inflation here, ”added Mr. Fitzpatrick. “I think he’s crossed the chasm into the mainstream”.
The very famous Cathy Wood has also widened her field of vision. She who saw a bitcoin at 45,000 dollars a few months ago revised her analysis upwards, rather to 500,000 dollars!
We believe the price will be tenfold from what it is today, ”she said. “So instead of $ 45,000, over $ 500,000.”
She said that if she could only own one cryptocurrency, she would default to bitcoin, “because countries now consider it to be legal tender.”
Is it too late?
Is it too late to buy Bitcoin? It’s never too late. The hardest part of trading is getting the timing right. You can always say to yourself “I should have bought $ 4,900”. But you will never be able to buy hair right at the ideal price. *
So, we should not aim for the biggest gains possible. We must aim for the most secure gains possible. Bitcoin has just beaten its ATH? This is a secure position because you are sure the price will hit new highs. At the time of this writing, 3:45 p.m. on October 20, 2021, Bitcoin was at $ 65,000. Since the start of this writing, bitcoin has already reached $ 66,000.
Bitcoin will make history
We are therefore at the start of what could be the biggest bullish wave in Bitcoin history. Even JP Morgan CEO Jamie Dimon has admitted that his bank’s customers increasingly want cryptocurrency, although he personally doesn’t like it. But Dimon’s position is known to be changeable. And the latter could well FOMO in turn when the BTC reaches 500,000 dollars …
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