A crypto analyst, Tony Severino, is making some seriously bold predictions about Bitcoin’s future price. He’s throwing out some huge numbers, even admitting some are a bit far-fetched. Let’s dive into the details.
The Sky-High Predictions
Severino’s most outlandish prediction? Bitcoin could hit a whopping $321,000! He says this is based on a “head and shoulders” pattern he sees on the Bitcoin chart. While he acknowledges this is a very high target, he insists it’s just “the math.”
He doesn’t stop there. Based on another bullish pattern, he suggests Bitcoin could even reach $345,000 if it hits the upper boundary of a long-term uptrend channel.
More Realistic (But Still Impressive) Targets
Severino also offers some more conservative, yet still impressive, price targets:
- $158,000:
This is based on an inverse Fibonacci extension of the 2021 peak. - $194,000: This prediction uses a different Fibonacci extension calculation.
- $186,000: Yet another Fibonacci calculation, yielding a slightly lower target.
- $191,000: This one’s based on a different bullish chart pattern.
Short-Term Outlook: Holding the Line
Analyst Ali Martinez offers a different perspective, focusing on the short-term. He points to a key support level at $97,877 for Bitcoin. He emphasizes that staying above this level is vital for maintaining the current bullish trend. He also notes a recent doubling in the number of Bitcoin transactions exceeding $100,000, which he sees as a positive sign.
At the time of writing, Bitcoin is trading around $104,300.
