Will Bitcoin $100k in 2024, as U.S. dollar collapses?

Bitcoin is the most asymmetric investment opportunity in the world especially as the US dollar is losing its value Globally. However The anti-bitcoin forces are intensifying their efforts .

• Senator Elizabeth Warren building an anti-crypto army and operation choke point tightening its grip that’s the alleged U.S government program to choke the crypto sector off from access to financial services.

• There’s also a new Bill in Congress which threatens to ban Bitcoin.

• Bitcoin is seen as an alternative to traditional Finance and as we’re seeing the cracks in the financial system.

• Bitcoin is the only cryptocurrency with value because Bitcoin has a known monetary policy where there’ll only be 21 million, every other cryptocurrency is an unregulated security. It has a CEO and they have a policy of issuing some number of tokens .

• The FTX collapse was engineered intentionally in order to lay down the groundwork for potential Bitcoin ban or cryptocurrency because it is such a threat to traditional Finance so we have the obvious attempts of crypto banning.

• Signature Bank was shut down by the government and the reason they shut it down is because it was doing a lot of business with these crypto companies.

• Bitcoin has  a store of value &  some people are aware of it  and others aren’t but Its highly
• Advisable for  people to get involved in it and know about it is something called the lightning Network
• The lightning Network allows people to move currency money in between themselves for less than a penny per transaction right now MasterCard and Visa are charging 300 percent on every single transaction. Bitcoin  would effectively destroy their businesses.
• Here are some factor that predict Bitcoin future price to reach Bitcoin $100k.

Expert prediction of Bitcoin $100k 

Mark Yusko, founder and Chief Investment Officer of Morgan Creek Capital Management shared his belief that NOW is the time to be buying bitcoin and crypto as he believes going into 2023 is the birth of a new bull cycle as we exit the crypto winter of 2022 and new ATH  will soon take  Bitcoin $100k.

He predicts that in the run-up to the next Bitcoin halving next year, will get to Bitcoin $100k and then go on to hit $1,000,000 per coin in due time.

Yusko also believes that we have now seen the bottom of markets following the FTX collapse and are now in the crypto spring.

A crypto spring is characterized as the price bouncing around, not hitting new lows but also not having any sustainable upwards price action. Crypto is inevitable as capital flows from baby boomers to younger generations and still  the 4 year cycle is still completely intact.

Bitcoin’s past history 

Past years of Bitcoin’s history show  some data and  discovered something interesting about the chart on a macro scale, Bitcoin’s price hits new all time highs every 4 years and the events leading up to each new all time high always has a few things in common

This cryptocurrency is repeating very specific patterns that have never been examined and explained, until now what exactly is it that causes the price of Bitcoin to go up so fast?

 Bitcoin hit $100k( prediction )[/caption]

Past Bitcoin’s last 3 all time high prices  contain information that can help us predict future prices for Bitcoin

• In November 2013, Bitcoin hit an all time high of $1,000

• In November 2017 $20,000 , and

• In November 2021 $69,000

Bitcoin experiences 4 year cycles which contains 2 years of a bull market where everyone is buying Bitcoin and 2 years of a bear market where some people are selling Bitcoin

Every Bitcoin all time high came from the end of a 2 year bull market and there is one event that happened at the start of each 2 year bull market this is a very, very big event, a very important event, that has repeated numerous times in history

2024 Halving Impact on Bitcoin (BTC) Price to reach Bitcoin $100k

What is Bitcoin halving :

• An event when the reward for mining Bitcoin transactions is cut in half meaning that the amount of Bitcoin that miners can sell into the market keeps getting reduced.

• Bitcoin mining is the process of creating new bitcoins by solving complicated math problems which verify transactions.

• when a Bitcoin is successfully mined, the miner receives a predetermined amount of bitcoin

So how much Bitcoin there’s left to be mined?

• The answer to that is 9% of the total supply (21 million)
• 9% of 21 million is 1.8 million. Multiply that by $30,000, today’s Bitcoin price, and that brings us to $64 billion
• The reason why this is so important is because that is the amount of Bitcoin that people are expecting to be mined.
• Every Bitcoin halving event starts a new 2 year bull market which is this slow snowball effect where people are gradually buying more and more bitcoin but there’s not enough supply to go around
• so the price keeps going up, thus the reason why Bitcoin has such extreme volatility.

Here’s a brief history of past Bitcoin halving.

There was a halving in 2012 which had minimal impact on Bitcoin’s price because of its lack of popularity at the time then, there was another halving in 2016 which led to an all time high of $20,000 in 2017

The price just completely blew up. Bitcoin had its most recent halving in 2020 taking the price ALL the way up to $69,000 in 2021

Our next halving will be in 2024 and the question is, will this halving create another bull market? and a new all-time high for Bitcoin?

BTC price action is showing  “bump & run reversal.” pattern

Having passed $26,000 to hit new nine-month highs this week The largest cryptocurrency is attempting to fulfill a “Bump and run reversal pattern,”

“The bump-and-run reversal bottom is a bullish reversal pattern that begins with a series of descending peaks. Excessive speculation drives prices down until reaching extreme lows. The price action then reverses direction to the upside and marks the end of the downtrend.“

“Textbook perfect Bitcoin ‘Bump & Run Reversal’ bottom is back and the target is over $100,000.”

What happens next — the so-called “uphill run” — gives the pair a six-figure target.

Wyckoff accumulation phase

An accumulation phase  is the time where  an investor such as big institution ,bank ,trader slowly  builds up their savings and the value of their investment portfolio, usually with the intention of selling to newbie when distribution phase is started

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