According to various analysts, the end of the bitcoin cycle would last until 2022. Estimates of the maximum cycle price might range from $ 200,000 to $ 300,000.

The maximum of bitcoin on November 10, 2021, at least USD 69,000, represents an appreciation of 137% compared to the price at the beginning of the year and is 263% higher than the maximum on December 2017.

However, bitcoin would not have reached its highest price during this stage, according to the predictions of investors and financial executives. This conclusion is also clear from the metrics posted by various cryptocurrency market analysts.

According to the information, the $ 69,000 level would not remain as the maximum during this period. The recent prediction on the price for this month comes from a technical analysis by Citibank.

This information got leaked on Twitter on November 13. In a private communication to its clients, Citibank estimated that this month, bitcoin would approach the price of USD 318,315, more than five times its current value.

On the other hand, for some analysts of the financial market, the upward momentum of bitcoin has not ended and could reach an end in the current cycle at USD 400,000.

Maslatón said in his analysis that he uses the Elliot wave model for his predictions. According to this analyst, the current cycle of bitcoin will close in three years with many rallies and corrections that would end up in a price of USD 399,759.

Another prediction about the price of bitcoin much commented on social networks is that of the analyst PlanB, which uses the Stock to Flow (S2F) or reserves to flow model.

Although this structure was correct in previous months, it failed in November, for which it was anticipating that bitcoin would close at a level near USD 98,000. The price crumbled down in November prompted PlanB to justify its estimation error. Regardless, PlanB’s late 2021 prediction insists that bitcoin will exceed$ 100,000 this year.

The $ 300,000 Bet for Bitcoin

At the beginning of April, the analyst Willy Woo said in various predictions that bitcoin would reach $ 300,000 by this December or January 2022. Although Woo later lowered this thought, he still considered that the end of the cycle would happen this month, under the premise that bitcoin cycles, in parallel with the dynamics of halvings, lasted four years.

Last August, Woo formally showed his thesis about prolonging this bullish cycle to 2022. At the time, a peak for bitcoin accumulation was about to get approached by long-term holders, suggesting bullish price action later this year and in 2022, according to their studies.

Recently, Woo has changed his strategy and now offers many price structures. Some offers serve as a floor to the price, while others are above it and would eventually get hit by the all-time highs.

By: Jenson Nuñez

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