Can Ancient Math Predict the Next Bitcoin Top at $220K?

Bitcoin was built using mathematical code, and nearly all aspects of it, from its hard-capped supply to its , and everything in between is deeply steeped in math.

mathematics first popularized in the middle-ages hold the key to predicting tops and bottoms with chilling accuracy. And according to how the number sequence has followed thus far, one crypto analyst believes it would put the top of the next Bitcoin rally at $220,000 per BTC.

Fibonacci Sequence Could Be Magical Tool For Predicting Bitcoin Tops and Bottoms

Mathematics is the study of quantity, structure, space, and change. Each of these key attributes is central to Bitcoin in some . Quantity, would represent how Bitcoin’s have been hard-coded to exist; structure would represent Bitcoin’s code and blockchain, space could theoretically represent chart patterns such as the symmetrical triangle the asset recently broke down from; and change would be represented by price action and change in value, or potentially through Bitcoin’s regularly planned halvings.

Related Reading | Historical Data Shows Bitcoin Price Correction Could Last 5 More Months

With math so important to Bitcoin, could it also hold the key to unlocking the ability to accurately price tops and bottoms using a number sequence developed by a renowned mathematician from the middle-ages? One crypto analyst believes so and suggests the next target for Bitcoin’s top would be $220,000 per BTC if the sequence continues to be followed.

The analyst says that Bitcoin is “ruled by Fibonacci numbers,” and follows a “magic mathematic path.” Using Fibonacci sequence – a series of numbers where the next number can be found by adding up the two numbers before it – the analyst claims each previous cycle top and bottom has been predictable, and if the same pattern is followed, the next logical top for BTC would be at $220,000.

As for when that target is reached, the analyst doesn’t say, but does also offer up a bottom Bitcoin will reach after the top target has been reached and momentum begins to reverse. According to the theory, the next Bitcoin bottom would be at $36,000.

Fib Tools and Math Are a Crypto Trader’s Best Friend

Fibonacci sequence was popularized by and eventually named after Leonardo Bonacci, considered the “the most talented Western mathematician of the Middle Ages” and known as Fibonacci. His work is commonly found even today, especially when it comes to Bitcoin, crypto, and financial markets.

Related Reading | Gann Theory Suggests Bitcoin Price at “Do or Die” Moment, Important Pivot Ahead

Using fib ratios, fib retracement levels, fib spirals, and other Fibonacci-based tools applied to price charts of various assets, important price levels, and trend turning points can be predicted with a high degree of accuracy. Traders use these tools in conjunction with other forms of mathematics, such as geometrical shapes such as triangles, squares, and circles to , and indicators to conduct technical analysis that can improve success rates when trading.

Given the weight that mathematics holds with Bitcoin, and how deeply rooted the first-ever crypto asset is in math, the analyst’s predictions could be proven true. But only time will tell if Bitcoin continues to follow Fibonacci sequence.

The post Can Ancient Math Predict the Next Bitcoin Top at $220K? appeared first on NewsBTC.

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Analysts Predict Bitcoin Will Live Through A 30% Drop Soon

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that the next few days we can expect to see the dropping by another 30 percent despite the last week’s movement between the $7,000 and $8,000 range. In the coming altcoin news, we take a closer look at the price analysis.

The analysts believe that the number one cryptocurrency touched an important historic indicator which can be seen on the 3-day charts showing that the price will drop by 30 percent in the next few days.

The world’s largest cryptocurrency-Bitcoin continued to trade in the range of $7,000 and $8,000 for more than two days. Currently, it appears that the bulls cannot break the $8K resistance level. The cryptocurrency, however, managed to sustain support at around $7,500 which could potentially be a good sign.

A popular bitcoin trader took it to Twitter to explain that the cryptocurrency reached the most important technical indicator. According to Thies, Bitcoin reached the 92-95 RSI on the three-day chart. He outlined that every time that bitcoin reaches this indicator, the price dumps more than 30 percent over the next few days, weeks or months. If the bitcoin price loses another 30 percent of its value currently, this could bring the major cryptocurrency to the $5,400 level.

What is also very interesting is that another trader warned about the same thing. According to him, a dip below the $5,400 price level will be considered a major bear signal. The analysts predict that if that happens, we will go through the same pattern as a year ago until the winter comes.

However, as previously explained in of the best cryptocurrency news sites, the technical indicators are not giving out the precise movement of the price. This is mainly true for a volatile market as the cryptocurrency one. On another note, Bitcoin has managed to keep the strong support level of $7,500 and if it manages to hold its ground and does not drop another 30 percent, this could be considered as a strong bullish signal. In any case, it will be very interesting to see whether the historical pattern will be maintained again after touching the 92-95 RSI.

The post Analysts Predict Bitcoin Will Live Through A 30% Drop Soon appeared first on DC Forecasts – Leading Digital Currencies.

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