Sorry for the naive nature of my sketch...I would just like to graphically illustrate an idea...
extrapolating classic Trading Patterns to the Crypto Total Market Cap (TMC) chart and, taking into account that we are very close to its ATH again, we can identify a nice CUP and HOLDER pattern, one of the most bullish patterns that exist.
As you can see, the pattern would indicate an achievable target for the TMC of 3.8 Trillions, very likely to do so during the next few weeks/few months...
Taking into account that the current dominance of BITCOIN is around 45%, meaning $ 1,087,650,704,953 over $ 2,399,070,767,363 of the total...
What would be the price of the BITCOIN when the TMC reaches its expected target?
Tick, tock, tick, tock...
I confess that I love these trivial forecasts, but let me do the calculation for you...
- 3.8 Trillion x 45% = 1.71 Trillion $ for BTC if TMC reaches the target
- 1.71 Trillion $ divided 18844000 BTC of circulating supply =
90744 $
Would that make sense to you?
Or you think it's still conservative...
Enjoy!
@toofasteddie*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.