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in TradingView there are those who speculate with the $ 42,000


An analysis has been published in TradingView what speculates that the price of bitcoin could reach $ 42,000.

In fact, according to user Trading-Guru, BTC would be on track to reach this same level.

The analysis is based on a comparison between the speculative bubble curve of the end of 2017, in yellow, and the bitcoin price curve of the last four and a half months, in black.

To date, the two curves have followed a decidedly similar trend, including the timing of the corrections that have occurred in the meantime.

Taking into account the necessary proportions, the peak of the yellow curve suggests that the price of bitcoin could continue to climb until January 14, reaching precisely $ 42,000, and then retreat sharply to $ 26,000.

TradingView: why the price of bitcoin could go down

This would be a 40% drop in value in six days, followed by a return to $ 36,000 and a relapse to $ 27,000.

Applying old data to a current chart is called a "fractal" and is used to get an idea of ​​what might happen in the future thanks to a scenario defined as "empirically realistic".

Therefore, it is not a true prediction, but a projection of past data on the current scenario. A realistic assumption, but not necessarily a plausible one.

However, this projection is based on the fact that in the last four and a half months the two curves have actually moved very similarly, so it is realistic to imagine that they could do so again in the next few days, although there is no certain that this is what is going to happen.

Ethereum to ATH

By the way, always on TradingView, another analysis was also published, this time on ETH, with which VincePrince speculates that the current trend seems to show the possibility of the achievement of the new all-time high.

In fact, while the price of BTC is hitting continuous all-time highs these days, ETH's ATH is stuck at January 13, 2018, when it surpassed $ 1,400.

VincePrince argues that this threshold could be crossed in the next few days, perhaps allowing the price of ETH to hit $ 1,700.

Finally, according to cyatophilum, bitcoin's dominance remains decidedly high, and it could decline leaving room for altcoins to grow.

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