By 2020, Bitcoin (BTC) will surprise analysts like never before, from $ 3,600 to an all-time high of just over $ 24,000.
Expecting the next step to get more and more difficult, there has never been so much demand for an accurate Bitcoin pricing model.
Cointelegraph looks at the best in the industry this year, and what’s worth seeing in 2021 begins – with perhaps $ 20,000 as a starting point.
Arrows to move
No matter how you look at it, 2020 was the year that Bitcoin’s live streaming pricing model got broader.
Already one of the best-known companies in the industry, the stock continued to rally with multiple incarnations of BTC / USD as it diversified to its dramatic annual lows and rallied again.
Best of all, the entire Bitcoin Behavior Program still meets the model’s requirements – from December 19, stocks to energy (or numbers) are converted.
The stock-to-energy ratio is based on how much of an asset is actually in situ (stocks) versus the amount added through construction (energy). In the case of Bitcoin, this relationship is inherently tied to blocking half of the subsidy – and this reduces energy consumption by 50% approximately every four years.
Thus, with every half, the percentage of bitcoins is growing, and currently nothing prevents it from reaching and maintaining the highest ratio among all known assets.
In terms of price, several stock-based energy predictions have been created by PlanB, an anonymous analyst who has become a household name among bitcoiners.
Each model requires different pricing targets to be met in the current mid-cycle to 2024. The most conservative – $ 100,000 by the end of 2021.
Despite strong criticism of the safety margin this year, PlanB defended its model and rewarded its faith to some extent when Bitcoin rallied to the model’s price last week.
Elliott Wave Theory
It was a test year for yet another Bitcoin forecasting tool. Elliott Wave Theory — more than a rigorous set of goals — was a tight 12-month price chart.
The Elliott Wave is not specific to Bitcoin, as it offers a multi-step course designed to track the highs and lows of an asset.
Due to its ambiguous nature, these predictions are often large, but Bitcoin was made earlier due to its inherently unstable nature early in its existence.
2020 also brought moments of clarity regarding the Elliott Wave, but the April forecast for a recent jump to $ 3,000, which matches the gap in the 2018 bear market, does not hold true.
Finally, one can take a look at the $ 23,000 Bitcoin placement on the so-called rainbow chart.
An easy BTC / USD record chart, Rainbow, breaks down price levels into a series of buying and selling tips – roughly one for each color of the rainbow.
From red (“maximum bubble range”) to deep blue (“mostly“ selling with fire ”), these investors and owners tell what to expect from Bitcoin based on an upward or downward trend.
At the moment, even around record highs, BTC / USD is still rising and is only in a light green range, which the pattern describes as “still cheap”.
As with the rally in stocks, the rainbow predicts a further rise in the odds for bitcoin as the $ 20,000 resistance is a thing of the past.