$18T Is Needed to Get BTC to $1M Within 3 Months Says Analyst

$18T Is Needed to Get BTC to $1M Within 3 Months Says Analyst

$18T Is Needed to Get BTC to $1M Within 3 Months Says Analyst By CoinEdition

Breaking News


Cryptocurrency 32 minutes ago (Mar 19, 2023 05:30AM ET)

(C) Alpha Footage $18T Is Needed to Get BTC to $1M Within 3 Months Says Analyst

Ali tweeted this morning that more than $18 trillion is needed for BTC to reach $1 million within 3 months.The analyst added that current market sentiment suggests that the market has reached a top.BTC’s price is down 1.91% at press time according to CoinMarketCap.

Crypto analyst Ali (@ali_chats) tweeted this morning that more than $18 trillion will need to be invested in Bitcoin (BTC) in order for BTC’s price to rise to $1,000,000 within the next 3 months. According to the tweet, the exact total needed to elevate BTC’s price to the $1,000,000 threshold is $18,797,203,666,237.

The analyst added that “this simplified calculation does not account for factors such as market liquidity, order book depth, depreciation in the US dollar value, and other market dynamics.

Ali also included a tweet he made yesterday wherein he stated that everyone talking about BTC hitting $1 million in the next 90 days may be a sign of a market top signal.

At press time, the global crypto market cap has declined in the last 24 hours according to CoinMarketCap. As a result, the total crypto market cap is estimated to be $1.15 trillion. With respect to the crypto market leader, BTC’s price slumped 1.91% over the last 24 hours – bringing it down to just above $27K at 27,022.53 at press time.

BTC’s market dominance has risen 0.15% however, and currently stands at 45.38%. The crypto’s price is also still in the green at +31.57% over the last week.

Daily chart for BTC/USDT (Source: TradingView)

BTC’s price is currently hanging just above the key $26.9K level. Should it close today’s session below this level then it will likely drop to $24,800 in the next 24-48 hours.

The daily RSI indicator for BTC suggests that BTC’s price has reached the peak for this latest move as the RSI line is sloped neutrally and is positioned nearer to overbought territory than oversold territory.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post $18T Is Needed to Get BTC to $1M Within 3 Months Says Analyst appeared first on Coin Edition.

See original on CoinEdition

$18T Is Needed to Get BTC to $1M Within 3 Months Says Analyst

Our Apps

Terms And Conditions
Privacy Policy
Risk Warning

(C) 2007-2023 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.