{"id":475462,"date":"2021-11-05T17:00:48","date_gmt":"2021-11-05T17:00:48","guid":{"rendered":"https:\/\/ktsl888.com\/?p=475462"},"modified":"2024-06-11T14:00:05","modified_gmt":"2024-06-11T14:00:05","slug":"bitcoin-fractal-for-100000","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-fractal-for-100000\/","title":{"rendered":"The Fractal That Puts Bitcoin At $100,000 Before Year-End"},"content":{"rendered":"
Bitcoin has mostly consolidated beneath its all-time high from October. Cryptocurrencies like Ethereum and Solana have gone on to touch new all-time highs following the October rally but the same cannot be said for bitcoin.<\/p>\n
BTC\u2019s entrance into the new month has been unremarkable so far. The digital asset has mainly maintained its value above $61,000 despite wavering momentum. However, a flash crash on Wednesday put the digital asset at $60,000 for the first time since its October ATH.<\/p>\n
Related Reading |\u00a0Bitcoin ETF Inflows Slow Down As Altcoins Interest Rebound<\/a><\/strong><\/em><\/p>\n The next big target for BTC has been the $100K mark by the end of the year. Various analyses have been put forward that places the digital asset at this price in December. None have come as close as this fractal from 2017 that sees BTC hitting the $100K mark before the year runs out.<\/p>\n Before getting to $100K, the bitcoin fractal points at BTC rallying another 30% in November to land at $80,000. Crypto analyst Justin Bennett points this out in his weekly newsletter where he analyzes market movements to try to predict the direction of the digital assets.<\/p>\n <\/p>\n Bennett points out glaring similarities in the asset\u2019s movements to that of a fractal from 2017. With one chart superimposed on another, the analyst shows that since June, bitcoin has closely followed this fractal from 2017. This means that this trigger has been in the making for over four months.<\/p>\n Furthermore, the accuracy of the movement to that of 2017 is striking in that it is almost identical. So, it is likely that the trends will continue to closely follow this fractal, and if it does, BTC is in a prime position to rally towards $80,000.<\/p>\n Bitcoin sticking to the 2017 fractal is as important to its $100K mark as it is to $80K in November. The next two months will be market-defining for the digital asset going forward and if the fractal is followed as closely as it has been in the last four months, then $100,000 is conceivable by December.<\/p>\n One thing about fractals though is that they are not always an accurate measure of future value. They can just as easily deviate from an established path despite following the same trend for months. Bennett points this out in his analysis but also points to previous analyses that have put future value anywhere in the ballpark of $207,000 to $270,000.<\/p>\nPlacing Bitcoin At $80,000<\/h2>\n
BTC trending at $61K | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
How It Gets To $100,000<\/h2>\n