September 2, 2020 / Forecasts

When Can We Expect Bitcoin Correction: Bitcoin Price For $ 600,000 In 2022

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In this article, we will review the predictions of traders Davincij15, Tone Vays, Crypto Zombie, Tyler S and MMCrypto. Let’s analyze the Bitcoin forecast for the end of August and the beginning of September.

We also consider the Bitcoin forecast for 2022 from Davincij15, according to which its price could reach $ 600,000. Thus, those who have BTC have an excellent chance of becoming millionaires.

Davincij15

Davincij15 is still set for growth and shows that now Bitcoin can draw a double bottom, aka the letter W. If this works out, then we can expect further growth to $ 11,900 (the point at which we are now), from where there will be a strong impulse up to about $ 12,250, where short positions will be opened.

But Davincij15 and his colleague Chris believe that Bitcoin has enough potential to take this level, and then the price of bitcoin can very quickly update the maximum of 2019, that is, $ 14,000.

And then Davinci showed that on the monthly chart of Bitcoin in relation to gold, we also draw a “double bottom”. Exiting this pattern could push the price up to 17 ounces of gold per bitcoin, roughly $ 34,000.

In the long term, in 2022, the price of gold may rise to $ 10,000 per ounce, and Bitcoin will cost about 60 ounces, that is, more than $ 600,000.

The idea of ​​linking the price of bitcoin to gold seems interesting to us, but the price itself seems to be too optimistic.

Tone Vays

Tone Vays continues to confidently stand on the side of the bulls, he believes that the final trend reversal occurred in March and now the price should continue to rise. The trader shows that the indicators indicate an uptrend. Also, despite the fact that August is almost over, the close at current levels will confirm the bullish bitcoin market.

On the weekly chart, the forecast is slightly worse, but still $ 14,000 is quite achievable.

Ton Weiss considers the recent $ 12,300 to be a local maximum, after which correction to $ 10,000 and even to $ 9,000 is possible. But from there, there will be a reversal and a new high in 2020.

Possible correction is also shown by the daily chart, on which the rate on continued growth did not work and now Bitcoin is returning to the consolidation zone.

In total, Ton Weiss is in the bull camp in the future until the end of 2020, but expects not the best ending in August and the beginning in September. But an important point, the price is unlikely to go below $ 9,000 and a reversal should occur from it.

Crypto Zombie

According to an analysis from Crypto Zombie, a correction in the bitcoin market is possible due to the fact that many large players did not believe in the growth in time and did not enter the market as planned.

But that’s what they are big on, to be able to return the departing train back to the station. To do this, you need to send bitcoins to the spot exchange and sell them in order to lower the price down. And at the same time, they open short positions on CME or another platform with Bitcoin futures and make money on this fall. Here is such a scheme for manipulating the cryptocurrency market, by the way, it is very simple and quite working, no matter how sad it is.

Tyler S

Tyler starts his prediction by saying that Bitcoin made a choice and decided to dip below the uptrend line that has supported the price since early August. We touched it several times and then there was an increase, but now the picture is such that the market decided to go down.

And if you look at the global chart with a three-year triangle, it will be logical to return to the price of $ 9,000. That is, we are still above this triangle, and now its upper edge acts as a powerful support.

Tyler believes that the chart for Bitcoin is in favor of the bulls, but to update the 2020 high, buyers need to gain strength again first.

Perhaps at the lowest point, this correction will even reach $ 8,800. But the trader is not sure that ours will face such a strong decline. Because the support levels at $ 11,200 and $ 10,500 look very strong, especially the second one. And that is where the reversal is likely to occur.
As you can see, the market sentiment is bullish, nevertheless, only Davinci still believes in a new attempt to storm $ 12,000.

MMCrypto

And again Chris, but without Davinci. He makes a lot of videos and therefore can get twice in the same set of predictions. So, bitcoin closed the day below the uptrend line and this is a signal for a correction. Now the most likely target for Bitcoin is the $ 10,200 to $ 10,500 range.

We also have to admit that the exit above $ 12,000, when we grew to almost $ 12,300, turned out to be fake. At the same time, there is a small chance that a fall below the trendline may also be false, and if Bitcoin returns above it, then another pump should be expected to $ 12,000.

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