These are my thoughts on the price of Bitcoin for the next 1-2 years.
First we are likely to see a return to the daily 200 MA, because we have moved quite far away from it rapidly at the last drop in December 2018, and price has been stable ever since. Then, after reaching heights between 4500$ and 5000$, selling pressure is going to drive down prices again, for the simple fact that people are still in there with big losses, and they want to get out with the least damage they possibly can. Also, day- and swingtraders will short at these heights because of resistances. Therefore in my thought process we will be going over into capitulation phase, the last phase in the bubble pattern. This will lead to prices around 2000$ and 3000$. Just as after the 2014 bubble, indicators will reset in a 2-3 year long bottom with minimal price action, gathering strength for a new bull run.
First we are likely to see a return to the daily 200 MA, because we have moved quite far away from it rapidly at the last drop in December 2018, and price has been stable ever since. Then, after reaching heights between 4500$ and 5000$, selling pressure is going to drive down prices again, for the simple fact that people are still in there with big losses, and they want to get out with the least damage they possibly can. Also, day- and swingtraders will short at these heights because of resistances. Therefore in my thought process we will be going over into capitulation phase, the last phase in the bubble pattern. This will lead to prices around 2000$ and 3000$. Just as after the 2014 bubble, indicators will reset in a 2-3 year long bottom with minimal price action, gathering strength for a new bull run.