Bitcoin Price Prediction Rises by 700 Percent

 During an interview with Bitcoin maximalist recently, Anthony Pompliano said that based on his model and Bitcoin price prediction, Bitcoin is predicted to rise by 700 percent by the beginning of next year and outperform all other assets.

“If we look at the on-chain signals now, I would say that the peak is at least a few months, say six months from here. So that will be the end of Q1 (QI-2022, ed). Then the third type of model that I use is of course the floor model at a price of USD 135,000," he said as quoted by Dailyhodl.

He predicts Bitcoin could touch above USD 100K even above USD 135K by the end of the year.

Then it will continue to grow maybe towards the target stock-to-flow model X (S2FX) and could touch USD 288K or more. You can analyze this with the Golden cross and death cross pattern.

Golden cross and death cross are chart patterns commonly used by investors to predict future chart price movements. In this article, we will discuss in detail what the golden cross and death cross is in the world of trading, including crypto trading.

For those of you who have just entered the world of trading, first, read the article What is a Moving Average to understand more about the golden cross and death cross.

Reporting from Investopedia, the golden cross is an asset price chart pattern when the shorter-term moving average crosses the longer-term moving average above it. Moving averages can be a sign or signal that an increase in asset prices will increase or is bullish.

A simple way to easily identify a Golden Cross is to know the three stages involved in the Golden Cross.

The first stage: the occurrence of a downtrend until the price chart is at its lowest position when the bear market is getting “tired”.

Second stage: Moving Average with a shorter timeframe will move up and cross the Moving Average with a longer timeframe, signalling a reversal of the price trend.

The third stage: a continuous uptrend (uptrend) to a higher point.

A death cross is an asset price chart pattern when the shorter-term moving average crosses the longer-term moving average below it. Moving averages can be a sign or signal of an increase or decrease in asset prices or bearishness.

The Death Cross chart pattern can be seen in the example below when the 50-day moving average (50 MA) crosses the 200-day moving average (200 MA) from above.

Identification of the golden cross and death cross is very important so that you know what kind of action you need to take when you see the pattern, whether you should open a position or close a position.

The method of identifying the Death Cross is not much different from the Golden Cross, where there will be three stages as below.

The first stage: the occurrence of an uptrend until the price chart is at its highest position when the bull market is getting "tired".

Second stage: Moving Average with a shorter timeframe will move down and cross the Moving Average with a longer timeframe, signalling a price trend reversal to bearish.