Tyler Swope, a crypto influencer and analyst, predicts that the price of Bitcoin will hit $150,000. Swope made this prediction while communicating to his subscribers through YouTube. He reveals his disbelief in any extra 10x for Bitcoin before the recent boom circle ends.
Swope referred to the price forecast of $300,000 for BTC by December as a crazy bullish though some may see it as a small amount.
He further made an explanation for his reaction. By referring to the last top cycles of 2013 ending to 2017 ending, Swope named it $1,000 to $20,000. He said this represents a 20x in Bitcoin’s price. Also, in the preceding cycle of 2011 to 2013, he named it $10 to $1,000, representing a 100x.
He confirms that the multipliers show a decrease of 80% from 100x to 20x of the cycles. So a further analysis from the $20,000 of 2017 ending to a possible rise of $300,000 of 2021 December will give a 15x. Narrowing the calculation shows a decrease of 25% from 20x to 15x. He concludes his uncertainty for this value.
Will Bitcoin Rally?
The YouTube influencer expresses his vision of a 320% rally for Bitcoin from its price of $35,790 by the end of the year.
He predicts this cycle’s top to lie between $100,000 – $200,000 by the end of the year. He confirms that this has been his long-time prediction for Bitcoin price. However, Swope declared that for the sake of precision, he foresees Bitcoin at $150,000 by 15th December 2021.
On a short-term basis, Swope sees the Bitcoin current price as a trap built for bears. However, referring to his Tyler Analysis (TA), the wrapping will be a triple bottom and not top.