BTC will reach 0k-0k in 2021, but there may be a setback before going to next year

Charles Edwards of Capriole Investments says: “I would be shocked if BTC did not reach at least $ 50,000” next year.

Yesterday, Bitcoin reached another high point, a new standard for BTC, to celebrate Christmas. Currently, trading at around $ 24,900, retailers seem ready to take advantage of the holiday season and the weekend to raise prices and get institutions to join FOMO next week.

From the looks of all the things that are optimistic, bitcoin seems prepared to reach more new levels. As noted by Charles Edwards of Capriole Investments, “new all-time highs (ATH) generally lead to more ATHs.”

However, the good thing for anyone looking for a good setback, Edwards sees one before moving on to 2021.

Using Wyckoff’s old school theory, he sees the correction next week that could lead to $ 21,000.

“Some short-term metrics suggest that a brief pullback may be due, and if it does, it would likely represent a major buying opportunity in the $ 19-21 thousand region. But don’t count on it, ” I wrote Edwards, who has advanced the Hash Ribbons indicator to time entry points into the Bitcoin market, in the newsletter.

This is because the $ 19-21K region has a lot of support. In addition, Bitcoin’s production cost is also around $ 18,600 and is growing.

Overall, there is a high likelihood of an upward trend in the coming months, both in technical and fundamental terms.

Speaking of next year, Edwards points to the great opportunity that only occurs once every four years.

Entering 2021 with great confidence, “We expect to see Bitcoin in the $ 100,000-200,000 range by 2021 and we would be shocked if it doesn’t reach at least $ 50,000.”