Bitcoin Long Term Price Projection
Updated
For now, I have a very bullish sentiment on bitcoin as Satoshi said, in his own words, that the 21 million cap was an "educated guess". He wanted one unit to eventually roughly represent the value of one unit of fiat currency that people are familiar with, and struggled with where to place the decimal place given the wide range of adoption possibilities. There are only 21 million bitcoins that can be mined in total. Once bitcoin miners have unlocked all the bitcoins, the planet's supply will essentially be tapped out. As of February 24, 2021, 18.638 million bitcoins have been mined, which leaves 2.362 million yet to be introduced into circulation.
Note
Note
...~ Base on elliot wave theory, The third wave is a 161.8% Fibonacci extension of the first wave.
~ ($118,139.00) is 161.8 level of fibo expansion as the next price target for 3rd wave movement.
~ The third wave of the Elliot wave theory is the most visually standing out wave. After the consolidation of the second wave, third wave breaks out.
Note
Note
...A clear break out of daily trendline area could mean a start of bullish run on the next coming month since there is more buyer than seller start coming in.
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