Tyson Swope is an aspiring crypto analyst and YouTuber. His channel ‘Chico Crypto’ has grown in a little time and enjoys over 253K subscribers. In his spare time, Swope is a dedicated investor and financial adviser. His videos have more traffic in comparison to other channels due to his personalized technical analytics. Despite a professional approach towards crypto trading, Swope tries to break down his technical projections into simpler bits.
In a new video, he claimed that those who think that Bitcoin is going to be finding itself at $100,000 by year-end are not optimistic enough. Interestingly, he also claimed that on the opposite side of the spectrum a $300,000 is not as well. He has shared technical evidence to support his theory and also given the price date and a solid price point prediction for the future.
The Bitcoin Analyst Claims the Technical Evidence Suggests Bitcoin Go Above $100,000 by December
Swope is working with the cycle top to cycle top difference over the years for Bitcoin. According to him, the bull runs for Bitcoin between 2013 and 2017, the flagship currency appreciated by 20 times. Whereas, between 2011 and 2013 bull cycles, the price appreciation was as much as 100 times.
Between the 100x and 20x, the difference of multiplier effect is as much as 80%. Likewise, taking a look at the cycle from 2017 to 2021 bull chase, that makes up for a 15 times appreciation. Staking the last cycle of 20x against the 15x results in a 25% decrease which does not seem to add up. He was also bold enough to claim that by mid-Dec, 2021, Bitcoin would be trading for $150,000.
Expert Bitcoin Analyst Shares one more Video to Reflect upon the Impact of Taproot on the Market
Tyson Swope added another video to discuss the impact of the Taproot activation date in September. According to him, this is great news because the Bitcoin network is going to gain a better privacy setup. It would also open doors for the deployment of complex smart contracts. In this manner, developers would add more applications and find better uses for blockchain technology in everyday life.
Swope had shared with his followers before that he had sold out a few of his Bitcoin for getting more Ethereum tokens. He claims now that he doubts his decision at present as going into Ethereum might be a good idea for the short-term and mid-term interest. However, in the end, no other cryptocurrency could beat Bitcoin.