Crypto Analyst: $100K Bitcoin ATH By EOY 2021 Is A Realistic Scenario

Tony "The Bull" Severino

5 years ago

2 mins read

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Bitcoin price may be crashing currently, but the first-ever cryptocurrency is expected to someday reach prices of $100,000 to as much as $1 million per BTC.

According to one crypto analyst, the first of those two numbers is a very “realistic” scenario that could occur as early as the end of the year in 2021.

Bitcoin Price at New ATH, $100K by End of Year 2021

At the height of the 2017 crypto bubble, Bitcoin reached an all-time high price of $20,000 per BTC, and nearly overnight became a household name. But after the turn of the year, the entire crypto market had a major crash, eliminating over 99% of the value from some altcoins, and over 80% of Bitcoin’s value.

But Bitcoin always bounces back, and throughout its history, has repeatedly gone through bubble-like cycles where the asset goes parabolic and reaches extreme values before suffering a major collapse and retracement.

The crypto asset has earned itself a negative reputation for being extremely volatile as a result, but if history continues to repeat itself, another bubble cycle could be coming, and one that’ll take Bitcoin to over $100,000 per BTC. But when?

BITCOIN (BTC/USD)

Most realistic scenario:

1. Bitcoin will never go below 5.8k again
2. Max. Price until end of 2020 = 14k
3. Next ATH will be around 100-110k in Nov/Dec 2021
4. Correction should put us around 30-40k@moonshilla whats up BigBrotha?#bitcoin #btc #btcusd pic.twitter.com/hsZW9SZuQG

— RQuantrillo (@rogerquantrillo) October 2, 2019

According to a chart shared by crypto analyst Roger Quintrillo, a “realistic scenario” for Bitcoin would be for the asset to reach between $100,000 and $110,000 by the end of the year in 2021. Much like past tops, the analyst expects Bitcoin’s next parabolic rally to top out in November or December of that year.

Using a curved growth line, the analyst’s chart shows the trajectory of how Bitcoin will reach such prices. The curved channel is traced along previous tops and bottoms, potentially providing the analyst with the next top and bottom of the next bubble cycle. With the top being roughly $100,000 per BTC, the analyst sees the correction following that top to take the price down to roughly $30,000 or $40,000 as the next cycle bottom.

Buying BTC During Current Correction Could Bring Over 1,600% Returns

The analyst also shared some additional aspects of what he calls a “realistic scenario” for Bitcoin’s price action over the short-term.

Quantrillo expects Bitcoin price to retrace no deeper than $5,800 during the current correction from the top at $14,000. That $14,000 price level where Bitcoin was rejected from back in June, the analyst says will be the high for the entire 2019.

With Bitcoin expected to reach prices of $100,000 per BTC within the next two years, the current correction may present the best opportunity for investors to buy Bitcoin ahead of the next parabolic rally. If prices reach Quantrillo’s bottom target of $5,800, and rose all the way to $100,000, it would represent a return of over 1,600% – or to put it bluntly, buying during this correction could be an opportunity of a lifetime.

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.