Bitcoin Price Prediction: $14,000 Surge Expected Based On Fibonacci ‘Golden Ratio’ - The reality is: 99% of people trade will lose more than those who just simply hodl - you cannot predict the highs or the lows. In the 2017 bull run, I remember people were selling Bitcoin around $3-4k a piece, thinking it had peaked - this turned out to be the bottom of the hype cycle. The same people who sold at $3-4k, bought near $20k thinking it was going much higher. I'm personally expecting a similar thing to happen; Bitcoin rallies to $50-60k and a lot of people will dump, causing a 30-40% crash. Soon afterwards, the price may see another parabolic move; propelling it 10x higher again ~$300k (absolute blow off the top). The $50-60k price that many thought was a top, is now the new bottom. If you zoom out over a 10 year period on Bitcoin you'll see how this is entirely possible.
The technical & fundamental analysis of Bitcoin in the immediate short-term is near-impossible to predict. The price could dump 30-40% due to hacker dumping all their stolen coins on the open market, or the price could pump 30-40% in a day because a Billionaire decides to market-buy a tonne of Bitcoin. My point is; any analysis of the price can be quickly destroyed in a few seconds. If someone tells you they know which direction the market is going tomorrow; they're lying - they have no idea if it's going up, down or sideways. Unless of course, they're the hacker or billionaire them-self (but why would you disclose this kind of information publicly).
Markets are driven by fear & greed. You have to learn to remove yourself from all the emotion & stress - just hodl & chill. Keep accumulating, because every sat you stack, gives you more share of the 21 million supply. The markets have a way of rewarding those who are patient, disciplined & emotionless.
I don't know where the price is going in the short-term; anything could happen. What I know for sure: Bitcoin will only get more scarce over time; more people will hodl, more private keys will be forgotten/misplaced & more people hodling will die (without anyone else knowing their keys).
In this stage of the market cycle, the shorters tend to get rekt; Bitcoin seems to have a way of proving the naysayers a lesson. Typically, many are skeptical it's going to dump hard, but it just keeps trending higher. After a while the bears give in to the bulls and buy at a much higher price.
There's not a single fundamental reason why Bitcoin should go down in the long-term. That's not say we aren't going down in the near future. Bitcoin has a reputation of correcting 30-40% in a day, then doubling or tripling in a month, shortly after.
In my mind, Bitcoin is a binary bet; it either moons & swallows a large chuck of the financial system or it fails miserably and crashes to zero. At this point I think it's far far riskier betting that it will go to zero. Not having exposure in Bitcoin, as central banks massively devalue currencies to service new debt, is the riskier option in my opinion.
