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Bitcoin really started the year in style with a new all-time high of $42,000 but it shortly retraced back to the $30,000 level. The following days saw a strong bounce back to the 40k level and the formation of a higher low which begs to question whether this was just a healthy correction or whether it will retrace further down.
As I write this article, BTC is portraying a dragonfly Doji candle on the daily and gently flirting with a higher low of $36,000. Those who have been in the crypto space for a few years will acknowledge that this -28% retracement was a “gentle” reminder that Bitcoin is a highly volatile asset, but what are the real experts saying?
Tone Vays: Bullish - “...I’m just buying more Bitcoin...”
Tone Vays, a former Wall Street Risk Analyst and known derivatives trader, said on a livestream on the 17 of January that he remains bullish following the strong bounce from the 30k level, having bought more on the dips and he expects Bitcoin to break ATH this week (17-23 January).
Max Keiser: Bullish - $220,000 BTC 2021
The host of the Keiser Report and the Orange Pill Podcast, recently released his 2021 price prediction in an interview with Daniela Cambone from Stansberry Research. Max predicted Bitcoin will hit $220,000 by October-November 2021 with 10-20% corrections along the way. Additionally, he claimed that 2021 will see gap prices as institutions begin panic-buying at the 40k level.
Citibank Analyst - Bullish - $318,000 EOY 2021
As reported by Forbes, Tom Fitzpatrick, a senior analyst of Citibank, wrote in a note to institutional clients, which was later leaked on Twitter, that Bitcoin could reach $318,000 by December 2021. The leaked notes state that a big move in Bitcoin could happen in the next 12-24 months, while further leaks have also included his predictions for Gold $4000-$8000 per ounce and $50 Silver.
Constantine Kogan: Bearish
As reported by Coindesk, Constantine Kogan, Managing Director of Wave Financial said: “Most likely the next possible low will be at least $26,000.”
Alex Mashinsky: Bearish “...re enter at the $18-$24k levels”
The inventor of the Voice over IP, CEO and founder of Celsius Network called the 2020 ATH, on the 16th of January of 2020, he was off by one day. This year The Machine tweeted that BTC would go lower short term and advised to enter back around de 18-24K levels.
Jim Cramer: Bearish - Will Buy more under 20K
The host of Mad Money recently stated in an interview for The Street, that he bought Bitcoin at $17,000 and that he sold enough to pay for his initial stake; he went further along to say he would be a buyer of Bitcoin at sub 20K levels.