Bitcoin Could Reach $100k By 2021: Logarithmic Regression Method

There are tons of predictions about the price of the leading cryptocurrency in the coming months. Some Bitcoin news updates even show that BTC could go to as low as $5,000 before surging and others believe that Bitcoin is on a good way to visit the $100,000 region. One analyst is in our news today for his thorough logarithmic regression method which analyzes BTC from the start and shows that Bitcoin could reach a price of up to $100,000 by 2021.

Even big firms are joining the price predictions. As we shared in another post, Dan Morehead, Tom Lee and others are estimating Bitcoin to visit anywhere from $150,000 to $300,000 in the coming years.

However, one of the most interesting is a recent video uploaded to YouTube by Benjamin Cowen, where the analyst outlines a Bitcoin price prediction based on logarithmic regression. What’s important to note here is that even though Bitcoin could reach $100,000 in as little as two years form now, this is basically a trend that was found and a trend which has continued over the years.

So, the main conclusion behind this video is that it can be true and Bitcoin could reach even more than $100,000 – only if the trend continues. The analyst is also active on Twitter and known under the handle @intocryptoverse.

He carefully goes on to analyze Bitcoin from the start and shows interesting margins especially before, during and after halving events which he sees as a major catalyst for a Bitcoin bull run. Based on this, he belives that Bitcoin may visit a price of $141,173 by 2022 and a bottom of $29,799 in 2023 as a result of a correction – something that we also saw when BTC dropped from $20,000 to $5,000 at the end of 2017 and start of 2018.

So, while it is true that Bitcoin could reach a price of $100,000 in the near future, it is also true that it may break – just as it did so far. When seeing “the big picture,” you can certainly investigate the previous drops and see which events led to them.

In that manner, this analysis is perfect and illustrates the path of Bitcoin over the years and its price movement with the halving events and other changes. The full video is published below.

Share This With Your Friends

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by
a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website,
feel free to contact us at editor@dcforecasts.com

Source link

Leave a Comment

Your email address will not be published.