Bitcoin price is headed for a mathematically “programmed” all-time high of $ 200,000 or more

The price of Bitcoin (BTC) is headed for a mathematically “programmed” all-time high of $ 200,000 or more, according to the latest data.

In a series of tweets on October 4th, the popular Twitter commenter posted TechDev® highlighted a well-known bullish behavior on Bitcoin’s Relative Strength Index (RSI).

The 2021 Bitcoin RSI just follows the pattern

While it still falls short of targets, like the stock-to-flow model, the BTC / USD pair has no shortage of bullish price predictions for this year and beyond.

Bitcoin price is headed for a mathematically “programmed” all-time high of $ 200,000 or more
Bitcoin price is headed for a mathematically “programmed” all-time high of $ 200,000 or more

The relative strength index (RSI), a classic indicator used to identify overbought and oversold markets at a given price, joins them, suggesting that the second phase of the Bull Run 2021 has only just begun.

Just as Bitcoin’s price action went in four-year cycles, the RSI has also shown behavioral patterns over the years.

“Each cycle had two peaks. 2021 is approaching the second”explains TechDev.

Every four year cycle, the RSI is at a slightly lower level than the last, which also helps identify a cycle peak some time in advance.. However, where the BTC / USD pair will be at this point in time is a much less accurate science.

Interesting to look at the eight year downtrend resistance “TechDev added.

â € œIf we get there, it will probably be the top. Or at least a place to seriously re-evaluate the risk. “

Comment chart of Bitcoin’s RSI versus BTC / USD. Source: TechDev / Twitter

“Too programmed? Â ????

Other numbers suggest this the BTC price cap could be $ 200,000 or more this time around.

“It seems almost programmed for Bitcoin to hit $ 200,000 to $ 300,000”,TO added TechDev alongside another chart showing Fibonacci levels.

These also depend on the four-year halving cycle: Each peak becomes an order of magnitude higher than the previous one. By 2021, this means that the $ 20,000 peak from 2017 should be converted to a price between $ 200,000 and $ 300,000.

This fits perfectly with the stock-to-flow cross-asset model, which predicts an average price of $ 288,000 during the current halving cycle. End of 2024.

The creator of stock-to-flow, PlanB has said that local highs during this time could easily double the average, bringing Bitcoin to more than half a million dollars.

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