Wednesday, May 5, 2021

Bitcoin not Hitting 100k, 300k, 1M Now, Next High is 85k –Josh Rager

Bitcoin, the largest cryptocurrency by market capitalization has been experiencing price resurgence in the past few days.

BTC successfully surpassed $8,000 resistance to be priced around $8,900, strengthening the hope of seeing the digital currency trading above $9,000 resistance level anytime soon.

The past exorbitant predictions of $100,000, $300,000 and $1 million for BTC prompted Josh Rager’s reaction in one of his recent tweets as BTC indicates possible price uptrend consolidation, averring that Bitcoin’s next high is between $75,000 and $85,000, rather than the larger price predictions mentioned above.

Josh Rager Says Bitcoin Next High Could Hit $75k to $85k

The professional trader and analyst Josh Rager is famously known for his short-term technical analysis of the price trend of cryptocurrencies, especially Bitcoin (BTC).

As usual, he captioned an illustrative chart in the tweet, he then pointed out that the next Bitcoin peak high will be nothing close to what lots of analysts predicted. Rager then opined that Bitcoin (BTC) next high would hit $75,000 to $85,000.

He said, “BTC Unpopular Opinion: The next Bitcoin peak high will not be as high as most people think Lots of analysis out there point from $100k to $300k to $1M Simple rate of return will show you bottom to peak return reduces by around 20% each cycle IMO, next high hits $75k to $85k.”

Bitcoin (BTC) Past Predictions

There is more attention towards Bitcoin than any other digital currency in the crypto market, due to its market dominance. At the same time, more price predictions revolve around the digital token on a daily basis than all coins put together.

The notable one so far was that of John McAfee, the septuagenarian cryptocurrency enthusiast, who predicted that 1 BTC will be priced at $1 million by the end of 2020.

However, he has recently discarded the prediction, terming it a means to convince suitors to plunge in and invest in the cryptocurrency. He has since being taunted by many crypto pundits for failing to take responsibility for his statement, since the time he fixed about 2 years ago is now close by.

Likewise, Anthony Pompliano, the Co-founder at Morgan Creek Digital remains resolute that the next Bitcoin halving scheduled to play out in May 2019 would take BTC to break $100,000 resistance and beyond. There are lots of popular analysts with predictions. We won’t be able to mention all of them in this article.

Bitcoin Price in the Market

Bitcoin is presently at the edge of breaking above $9,000 resistance. At the time of filing this report, BTC is trading at $8,951.65, with a relatively 3% price upsurge in the last 24 hours.

Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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