A well thought-out on how to build one’s investment portfolio is not enough when it comes to last‑minute decisions. One of such tests of a trader’s tactical prowess is bitcoin price prediction today.
Day traders should better pay close attention to what is going on with the market at the moment. As opposed to holders, their revenue directly depends on their dedication and awareness of the hottest cryptocurrency-related trends.
Another popular tool that provides an immediate insight into the future is a bitcoin price prediction chart. We will cover the respective online services and see if they are indeed helpful in BTC price prediction.
Bitcoin price prediction chart
If you’re a little bit inclined to tinker with numbers, you could easily create a Google Sheet (or an Excel / Libreoffice Calc one) that tracks the monthly price of bitcoin since its very inception. Populating the sheet with daily price data would be a lot more troublesome but still possible and useful for the purpose of retrieving a bitcoin price prediction for today, via simple FORECAST or SLOPE functions.
That sounds so simple, someone probably had done it already and posted the solution online. And, as you may have guessed, this method won’t yield any reliable results. So where do you find a professional solution that takes bitcoin halving cycles, and supply/demand changes for BTC price prediction into account?
PlanB (@100trillionUSD twitter account) posted a price prediction for bitcoin based on a Stock-to-Flow model back on November 22, 2020. According to it, the BTC price may reach $100,000 by December 2021.
However, here’s an example of inaccuracy of a similar BTC price prediction chart: back in 2018 IHODL expected the price to hit $100,000 in mid-2020, and there is a distinct price trend line on a logarithmic scale.
Josh Rager posted an elaborate price prediction for bitcoin that foretold its rapid rise months before it actually happened. The forecast is still in play, guessing that the final price may settle at $130,000 by the end of 2022.
The successful forecasts take bitcoin halving events as breakpoints of price fluctuation. Not only do they give a vague idea of where the price will be in, say, a month, but point out prolonged periods of highs and lows implying the best time to sell or accumulate respectively.
- BeinCrypto supported the PlanB’s interpretation of bitcoin price charts and gave its own one, highlighting the areas in question.
- If it all still looks and sounds cryptic, take a look at the live rainbow chart by Blockchaincenter. It gives an impression that bitcoin is a perfectly stable and predictable digital asset—at least, in the given price range. Just mind that the scale is logarithmic 🌈
So by and large, bitcoin enthusiasts agree that the price is doomed to reach $100,000 by the end of 2021.
And, of course, let’s not forget that…
Price prediction for bitcoin relies on the news from tech giants and major investors as well as their actions
As you see, bitcoin price prediction charts turned out pretty accurate, perfectly fitting the formulas at their core. If nothing disrupts the cycle of price inflation, you can put your trust in them and act accordingly: buy in the “low” zone and sell in the “high”.
Never forget the disclaimer though: this is not financial advice. Act upon your own volition and take responsibility for your actions.
Mathematics at the core of price predictions is very effective at explaining why a factual price change occurred, but the future change is not a fact. Any decision of a major bitcoin stakeholder or mining pool to sell their share or rewire their hashing power for another scalable, fast, secure, and user-friendly blockchain may seriously impact the bitcoin price if not bring it to the brink of collapse.
On top of that, large stakeholders influence the market just withholding the crypto on their private cold wallets.
BTC price prediction summary
The aforementioned tips will help you make a correct bitcoin price prediction today.
Anyway, you can always treat bitcoin as digital gold: buy it, wait until its value rises in relation to the price of fiat currency, and sell it at reasonable rates when you need cash.