We all love crypto, and we know that the crypto market as a whole is following Bitcoin. Many OGs of bitcoin are saying that bitcoin will be 100K+, but is it possible in this bull market? Let’s find out, shall we?
Bitcoin has fallen about 15% from its all-time high and is now at 59000 dollars. What does this mean? The local bottom is at around 56500 dollars, and there is considerable resistance at 60000 dollars again. Let’s now look at the resistance levels above 60K.
As we see here, after 83500, there is no considerable resistance until 100K. So the level to look for is 83500.
What I see here is a possible inverse head and shoulders forming in the daily chart. It could bring bitcoin to 82500 dollars. That means we only need about 1000 dollars to break the massive resistance.
When it comes to altcoins, those will probably follow bitcoin and do well in the short term. But bear in mind that the bear market is around the corner. We are yet to see the blow-off top, and it will be the end of the bull run. When that happens, most of the altcoins will lose 90%+ of their value. Ethereum has fallen about 18% and is now at 4233 dollars. If bitcoin is to do 100K, Ethereum will surely go to at least 10000 dollars. These are a few of my predictions for this bull-run if this bull market lasts and bitcoin hits 100K!
- Ethereum: 10000$
- BNB: 800$
- Solana: 400$
- DOT: 150$
- EGLD: 1200$
- CRO: 2$
I think that bitcoin won’t hit 100K this year, but it will do it in 2022 if the hype lasts. We should also keep a close eye on the 25th of November because of Thanksgiving; the crypto market would be significantly boosted.