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Bitcoin could reach $ 14,000 in 2022, but it was never so attractive to get it

Bitcoin could reach $ 14,000 in 2022, but it was never so attractive to get it

Bitcoin (BTC) is facing a “bottom of the cycle” this year where studies could fall more than 50% from current levels.

In a Twitter thread on June 1, Venturefounder, a participant with the CryptoQuant chain analytics platform, added predicted that 2022 would be the year of bitcoin ‘s “surrender”

Bitcoin now has a ‘best three year ROI’

Based on historical patterns of bitcoin half – life cycles, the bearish black sheep should be of the current four – year cycle, Venturefounder wrote.

Like 2018 and its bear market, the BTC / USD pair is likely to gain a macro floor at some point in 2022, and calculating previous declines from all – time highs, it could be somewhere between $ 14,000 and $ 21,000 . .

“Day 670 to the next half of bitcoin, we are on schedule for bitcoin performance against previous cycles,” one tweet explains:

Over the next 670 days, BTC will be engaged in the next 6 months and will reach the bottom of the cycle ($ 14,000-21,000), then hover in the $ 28,000-40,000 range for most of 2023 and will return to ~ $ 40,000 in the next. in half ”.

Such a prognosis would not be unprecedented. After hitting $ 3,100 in December 2018, bitcoin recovered as high as $ 13,800 seven months later, before falling again to reach its March 2020 low of $ 3,600.

Even the local highlight of 2019 was not enough to break the record set at the time in December 2017 – $ 20,000.

This level could be a feature of the price spot chart again, Venturefounder believes. Those ready to ride the wave and invest – even now – will nevertheless be on the right side of history.

“In other words, buying bitcoin from now to the next 6-12 months is as good as it gets. This is probably the best 3 year percentage return on investment ever, ”he said:

“We may not be at the bottom of the cycle, but we are in the bottom of the BTC cycle. That’s the best thing you can do as you try to synchronize market cycles. ”

Cycling background forecasts follow each other

Meanwhile others have already estimated the probable bottom range at or close to $ 14,000.

Also read: “Mega bullish signal” or “true breakout”: 5 things to know about bitcoin this week

This price represents an 80% decrease from the current high of $ 69,000, which is the previous cycle low in percentage terms.

Current levels at around $ 31,000 are moderately low, as data from blockchain analysis firm Glassnode shows.

BTC / USD chart falls from all-time highs. Source: Glassnode

Last month, another analyst, Rekt Capital, calculated a potential target of $ 15,500 as soon as the BTC / USD pair breaks below its 200 – week moving average.

Vendors may have difficulty driving the market down at this point. MicroStrategy, which owns the largest corporate treasury in BTC, has pledged to buy if it falls towards the $ 20,000 mark.

Arthur Hayes, former CEO of trade giant BitMEX, also confirmed that he would be interested in $ 20,000 BTC.

The views and opinions expressed herein are those of the author only and do not necessarily reflect the views of Cointelegraph.com. All investments and trading operations involve risk. You should do your own research before making a decision.

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