$20k by 2041 False Even if Bitcoin (BTC) Is Maturing With Deep Liquidity

Dalmas Ngetich

1 year ago

2 mins read

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Bitcoin (BTC) trend is bullish but below Apr-11 highs
Analyst says Bitcoin (BTC) may take 22 years to re-test 2017 highs

Accompanying firm upsides is shifting sentiment and recovering prices. At spot rates, Bitcoin (BTC) gains are low, but even so, it is volatile enough and attractive for risk-off traders. Our immediate targets remain at $5,800 and $6,000.

Fundamentals

The community is haggling over price and for good reasons. Bitcoin, as we know, is the primary driver of the crypto asset space and therefore, where it stands is quite essential. Presently, the fact that prices are trending above $5,200 is super bullish from a technical candlestick arrangement point of view.

At $5,000, bulls are steady, and the path of least resistance is up thanks to efforts of early April as well as optimistic analysts churning encouraging predictions. However, the exact timing of when prices will soar and blast past 2017 peaks is tentative. However, one Bitcoin holder is optimistic that next year’s halving and the flow of institutional money in the state of hyperbitcoinalization will see the asset test $98 million in two decades.

On the other hand, Hayes of BitMex is quite conservative projecting $50,000 while Lee of Fundstrat sees the asset clearing the $10k mark by the close of the year. Bears, on the other hand, expect Bitcoin (BTC) to re-test $20k in 2041. That is 22 years from now and at that rate, it means traditional asset prices like stocks or indices, for example, will be better investments than Bitcoin.

Here is what UBS’ Kevin Dennean says:

“We’re struck by how long it took other asset bubbles to recover their peak levels (as long as 22 years for the Dow Jones Industrials) and how pedestrian the annualized returns from trough to the recovery often are.”

Candlestick Arrangements

At spot rates, Bitcoin (BTC) performance is solid, but movement suppressed. After Apr-16 reversal of Apr-11 losses, upside pressures are low but defined.

For this reason, our last BTC/USD trade plan is valid and firmly bullish. Because of bullish expectations and the fact that prices are above $4,500, every low, like in our emphasis, is another buying opportunity with the first target at $5,500—our minor buy trigger line, with goals at $6,000.

Even so, we adopt a cautious approach aware that surges like of those of Apr-2 are often time accompanied by periods of stagnation the anchor bar high-low.

Technical Indicators

Since our trend is clear, our anchor bar is Apr-11 bear bar. It is wide-ranging with high volumes reversing losses of Apr-7-10. Therefore, for buyers to be back allowing risk-averse traders to initiate longs, then volumes must be high exceeding 19k.

Chart courtesy of Trading View

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.