Goks, This Crypto Analyst Predicts Bitcoin Price Can Reach IDR 5 Billion!

Bitcoin, the largest crypto asset based on the rise of caps. (Photo; Doc. Pixabay)

JAKARTA - Tradingshot is a crypto analyst who often shares his views on the TradingView platform regarding the projected price of Bitcoin going forward. The figure who uses the Samaln Tradingshot name predicts that bitcoin has the potential to reach a fantastic value of 330,000 US dollars (around Rp5,133,450,000.00).

Based on an analysis that combines historical patterns and Return Reduction Theory (TODR), Tradingshot argued that the next cycle could break the downward trend of results that usually occur.

The article entitled 'Bitcoin What Will Happen Next?' shows that if bitcoin remains on track at this time, there could be a significant price spike, which would be an important phase in the development of bitcoin prices.

Tradingshots emphasize that bitcoin has surpassed expectations by achieving a new All-Time High (ATH) above $69,000 (approximately IDR 1.075.015.000.00) before the 2024 half, signaling a strong momentum that could push it to $3300.000.

The Theory of Reduction of Return (TODR) which usually suggests that every bullish cycle of bitcoin generates a lower return than ever before, now seems to be the opposite. Tradingshot argues that if bitcoin could go beyond this theory, it would mark remarkable growth and a change in perspective on bitcoin as an asset.

This bold prediction relies on the violation of the historical Parabolic Growth Channel, which if it does, will mark other narrative changes in bitcoin history. If this narrative breaks, it means BTC should achieve an increase of more than +2,051% during the current cycle, which means we could see a cycle peak above $330,000,'' clear Tradingshot.

While it remains to be seen whether bitcoin will reach or exceed the value of $330,000, this kind of projection shows great optimism during the bull market. With bitcoin having returned to the price range of $71,000 (approximately IDR 1.1 billion), varying price predictions from various analysts are starting to emerge. This condition reflects the importance of public optimism about Bitcoin.