Bitcoin to $200,000 Review - Update

Let us review our previous post from a few weeks back.


Previous Post Bitcoin to $200,000 Review


Well so far Bitcoin has found support, proving demand is present, price is contained within the red channel lines.

The sharp drop is most likely the miners (say the Chinese) selling all there mined coin stock to new hands (say the western financial institutions) on the back of FUD created by Elon Musk with an assist from another ban by Chinese authorities.

POINT: Isn't Elon Musk involved with Crypto mining, hmm, then no wonder the FUD!

This blog believes the transfer of mining dominance away from China to more US investor friendly zones opens the door to large monies from US institution investors. We have yet to see a true financial institution lead crypto bull market, and you can bet they want their turn in the sand box.

Chart 1 - Price holds in the channel, huge support at $30,000

Chart 2 - If the 2021 correction is a time mirror of 2013, then July to August 2021 should be strong demand months for Bitcoin. Of course a strong Bitcoin trend requires US dollar weakness, lets watch!

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Bitcoin to $200,000 Review

Here is why BTCUSD to $200,000 is now on the table in 2021.


During a period of heavy money printing with higher debt levels the FED must choose between two of the following to avoid a collapse:

1) Higher stock prices.
2) Keeping the economy and employment positive.
3) US dollar strength.

The above is known as the economic 'Dollar Trinity' choice.

The FED and the DEM's (US mid terms 2022) will choose a higher stock market and keeping the economy positive, this means the US dollar is due to suffer weakness.

Bitcoin will do well during US dollar weakness. But how high will BTCUSD go in 2021, lets see how Max Keiser worked out his $225,000 USD price target for 2021. 

POINT: Channels drawn correctly are the path for price action.

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