What price will Bitcoin reach in this bull market? (2024)The bull market has been going on recently, with more fluctuations and taking up more time to read the market, so I don’t have time to write an article. I’ll just briefly explain my thoughts.On February 29, 2024, Bitcoin suddenly exploded past 60,000 US dollars and rushed to 64,000 US dollars.Suddenly, rumors from all sides came outSome say it will exceed 100,000 US dollars this year, some say it will exceed 130,000 US dollars, and some say it will reach 100 million US dollars in 2035! (suspect?)First, on January 11, 2024, the first batch of ETFs will be approvedThe entire inflow and outflow status until the end of February is as follows:In the early stage, due to Grayscale’s plan to transfer GBTC and excessive expectations, the price dropped from 46,000 to 42,000.But it doesn’t matter. As the inflow of ETFs increased, February ushered in a big explosion.Before 2/16, the currency price entered the first stage of climbingAt this time, the purchase cost did not exceed US$50,000.The second outbreak was more fierce, reaching 60,000 in a short period of time.I can only say that the follow-up effect of ETF is really good.But ETFs don’t rise endlessly.The purpose of entering the market is to make money.After exceeding the highest point of the previous round, the profits of the first batch of purchases have exceeded 40%. However, by this time, everyone has seen that ETFs are really profitable, so they will not let go yet.When it reaches 80,000, it starts to get a little mysterious, and the panic and anxiety at the high point will begin to appear (but it is not yet emergent).If this anxiety does not expand, it will not cause much change, but after 90,000, the number will form a psychological threshold.Mainly twoMost ETF buyers have doubled their profitsMany of these buyers are traditional finance, and taking profits is a necessary procedure. Assuming that the 90,000 yuan is reached within one or two months, everyone will still want to make a profit, but if it takes more than half a year, at least doubling it will be necessary. The principal was given awayCoupled with the psychological threshold of breaking 6 figures, plus panic at high pointsIt will put a lot of pressure on admission fundsTherefore, if this batch of increases cannot exceed 90,000 in one quarter, a threshold will be formed between 90,000 and 100,000.One hundred thousand is possible, but it is an ideal. Relying solely on the power of ETFs is too mysterious.However, BTC is now beginning to flourish in L2. If there is a bigger breakthrough in the future, the traditional financial market has a story to tell.The threshold of 100,000 will become fragileAs for 130,000?Let’s put it this way, if you don’t tell users that if you enter the market now, they can double the price, these ETF institutions will soon face another problem, and investors will start to hesitate.Especially after the profit rate falls below 40%, they have other targets to choose from, and the money will be dispersed.In other words, if everyone believes the statement of 130,000, it will be difficult to sell the ETF at 90,000.But it doesn’t matter. The institution estimates that it will start taking profits at 90,000 yuan, so 130,000 yuan can still deceive people before 90,000 yuan.Later, there will still be many people who advocate that 15 or even 20 can be achievedThis is not to say that Bitcoin will never reach this price. This threshold can be raised through market baptism.When the price is more than 90,000, the drop due to settlement cannot be too great, otherwise they will not be able to sell in the future.The most likely way is to slowly release the goods to minimize the loss of profits, and then short BTC at the end, allowing BTC to fall back to more than 60,000. It is best to use a short-selling company to increase the number of stocks, and then re-arrange the purchase.In this way, the next round will have a higher price than the current round.Someone asked if it can reach 40,000. Yes, it is possible. The method is as follows. Brother Sun, just sacrifice it to give everyone a chance to make up for it.
