{"id":144737,"date":"2021-11-15T17:07:08","date_gmt":"2021-11-15T17:07:08","guid":{"rendered":"https:\/\/precoinnews.com\/?p=144737"},"modified":"2021-11-15T17:07:08","modified_gmt":"2021-11-15T17:07:08","slug":"why-bitcoin-is-nowhere-near-the-top-this-cycle-but-still-likely-to-roar-past-200000","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/why-bitcoin-is-nowhere-near-the-top-this-cycle-but-still-likely-to-roar-past-200000\/","title":{"rendered":"Why Bitcoin Is Nowhere Near The Top This Cycle, But Still Likely To Roar Past $200,000"},"content":{"rendered":"

If you thought bitcoin\u2019s parabolic rally was over, think again. A price indicator developed by one of the industry\u2019s best-known analysts is betting on the world\u2019s largest cryptocurrency to more than triple in value during this cycle. <\/p>\n

Bitcoin Could Soon Clinch $200K<\/strong><\/h2>\n

Bitcoin has had a blockbuster year so far, with the pioneer crypto breaking multiple record levels and flirting with the $69,000 threshold last week as it benefits from numerous tailwinds. Still, analysts expect the cryptocurrency to surge even higher in the near future.<\/p>\n

Bitcoin could skyrocket to as high as $200,000 in the current bull market based on the Top Price Model indicator. This indicator was created by on-chain strategist-cum-crypto investor Willy Woo and is used to identify cycle tops in the market.<\/p>\n

On-chain analytics provider Glassnode pointed out that the Bitcoin Top Cap is calculated by multiplying the Average Cap by a factor of 35. The Average Cap is derived from the total daily market capitalization, divided by the number of days that the market lives.<\/p>\n

\"Image\"\/<\/p>\n

Top Cap estimates bitcoin at an eye-watering valuation of $4 trillion while the Top Price stands at roughly $214,000. If this analysis holds true, then we\u2019re still in the early innings of the crypto bull market.<\/p>\n

Woo\u2019s Top Price Model indicator is far from the only indicator predicting a race toward new all-time highs. The Stock-to-Flow model creator PlanB foresees bitcoin at $98K by the end of this month and $135K in December. Notably, the model\u2019s iteration, the Stock-to-Flow Cross Asset (S2FX), calls for an average price of $288,000 this cycle.<\/p>\n

Another crypto analyst, TechDev, previously described a cycle top of between $200,000 and $300,000 as \u201calmost too programmed.\u201d<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

If you thought bitcoin\u2019s parabolic rally was<\/p>\n","protected":false},"author":3,"featured_media":144736,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"yoast_head":"\nWhy Bitcoin Is Nowhere Near The Top This Cycle, But Still Likely To Roar Past $200,000 - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/bitcoin\/why-bitcoin-is-nowhere-near-the-top-this-cycle-but-still-likely-to-roar-past-200000\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Bitcoin Is Nowhere Near The Top This Cycle, But Still Likely To Roar Past $200,000 - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"If you thought bitcoin\u2019s parabolic rally was\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/bitcoin\/why-bitcoin-is-nowhere-near-the-top-this-cycle-but-still-likely-to-roar-past-200000\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-15T17:07:08+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/11\/Why-Bitcoin-Is-Nowhere-Near-The-Top-This-Cycle-But-Still-Likely-To-Roar-Past-200000-.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/bitcoin\/why-bitcoin-is-nowhere-near-the-top-this-cycle-but-still-likely-to-roar-past-200000\/\",\"url\":\"https:\/\/precoinnews.com\/bitcoin\/why-bitcoin-is-nowhere-near-the-top-this-cycle-but-still-likely-to-roar-past-200000\/\",\"name\":\"Why Bitcoin Is Nowhere Near The Top This Cycle, But Still Likely To Roar Past $200,000 - 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