Bitcoin (BTC) – Update
Date: February 15th, 2023
Quite a few people have asked us to look at the Bitcoin again. If you recall, our original calculations did not yield very good Time/Price targets back in November for two reasons. First, due to Bitcoin’s short trading history and second, its excessive volatility.
Before we get into our exact Time/Price projections we found the following of significant interest. If you recall, two weeks ago we shared our USD analysis that indicated the US Dollar will collapse between January and August of 2025 (at least according to our calculations). What we find interesting is that our work shows Bitcoin will surge during the same period of time.
With that in mind, our mathematical and timing work for the BTC suggests the following.
- The BTC did put in a mid-term bottom in November.
- The BTC will now bounce into approximately August of 2023. The price variable for this top is not very clear at this time, due to the issues above, but we wouldn’t be surprised if the gap at $36K is closed.
- Once this August top is in place, the BTC should collapse into January and then March of 2024 (perhaps a double bottom). The price variable for this bottom is not very clear either. For the time being the following prices are of interest. First, at 13K (+/- 1,000) and if broken, the BTC should break down to about 5K.
- Once this early 2024 bottom is in place, the BTC should stage a major rally into late 2025. With major gains occurring between January and August of 2025.
Once again, the above results are not as exact as our work typically yields. Due to the issues outlined above. With that in mind, timing projections above should work out very well for the BTC.
In Summary: 1. Bounce into August of 2023. 2. Decline into a long-term double bottom formation in January and March of 2024. 3. Then a major rally into late 2025 with the BTC accelerating in the first half of 2025 as the USD collapses.
