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The Bull & The Bear - Money & Markets EPISODE 121, 10th September 2021
Bitcoin to $1M by 2025? Little-Known Indicator Predicts Crypto Price
00:00:00 00:08:48

Bitcoin to $1M by 2025? Little-Known Indicator Predicts Crypto Price

Green Zone Fortunes co-editor Charles Sizemore and I had a robust conversation about El Salvador bringing bitcoin in as a legal tender this week.

The Central American nation became the first country to adopt the cryptocurrency as an accepted form of payment for goods and services.

I asked Charles what he thought this would do to the price of bitcoin. (It was around $53,000 the day before El Salvador made bitcoin legal tender.)

Neither of us expected a 17% sell-off.

Smart investors are always trying to figure out the future price movement of their investments.

For stocks, there are a lot of technical indicators that can give you a glimpse, but nothing is ever certain. In the world of cryptocurrency, it’s an even bigger animal because crypto is decentralized, and its price is based on supply and demand as well as the cost to mine. Plus, it’s very volatile. (I’ll get to that in a minute).

But one technical indicator has shown some accuracy in predicting the future price movement of bitcoin.

In this episode of The Bull & The Bear, I’ll tell you about this cryptocurrency price model, how it works, and what it tells me about the future price of the world’s most popular digital currency.

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