The next Bitcoin parabolic rally may take prices as high as $141,173, based on logarithmic band analysis. But the trek to those highs may take a while testing various support levels.
Bitcoin Price Prediction Based on Previous Bands Charted Forward
Analysis by Benjamin Cowen based this prediction on a backward look at BTC performance so far, especially in relation to the halvings of the block reward.
Bitcoin usually goes through very fast parabolic phases, though their timing varies, and the halving does not guarantee an immediate climb. In fact, the year 2020 may see unusually subdued prices, with BTC dipping to one of the lower logarithmic bands, and fall through to $5,000.
Cowen also noted that with each halving cycle, the price tends to dip lower in a bear market. The current cycle, thus, may see years of sliding or sideways moves, revisiting lower levels, even breaking below the historical band.
But if BTC gets on track based on previous performance, the six-digit price high would be next. Afterward, a subsequent bear…