Copy link
Increase text size
Decrease text size
Link copied

Bitcoin (BTC) could rise as high as $400K as crypto market’s bull run enters ‘7th inning,' says BlockTower Capital CIO

Ari Paul believes the current crypto market bull run could last from 9 to 22 months.

Tue, 09 Feb 2021, 10:55 am UTC

Bitcoin, which set a new all-time high last month when it rose past $41,000, had investors briefly worried when it plunged below $31,000 on profit-taking. Thankfully, the price correction was short-lived as BTC rose and broke last month’s record once more.

While the crypto market is currently in the midst of the rally with Bitcoin trading at $47,044 at the time of writing based on data from Coinmarketcap, one of the questions at the back of the minds of most investors is how long this rally might last. One crypto expert believes that the current bull cycle could last for as long as 22 months with Bitcoin going as high as $400,000.

“Time-wise, my guess is we have 9-22 months,” Ari Paul, chief information officer at BlockTower Capital, tweeted on February 5. “Price-wise - my guess is BTC ends the bull run between $100k-$400k and alts do better.”

The CIO said a day earlier that the industry is currently in the “7th inning of the crypto bull market,” according to Cointelegraph. He also predicted the rise of Bitcoin (BTC), Ether (ETH), and other cryptos but also warned that price corrections can still happen along the way.

“This is where we get ongoing, dizzying rotation,” Ari Paul said. “BTC up, then when BTC takes a breather, ETH and some largecaps (and in this regime, defi bluechips), then smallcaps, rinse and repeat. Of course, throw in some 30-60% retracements for fun.”

Indeed, ETH’s price rose relentlessly these past few days and set a new record when it traded at $$1,811 today. At the time of writing, the crypto slid back down slightly and is trading at $1,777 based on Coinmarketcap data.

Paul later realized that his baseball analogy (7th inning reference) has caused some confusion especially since the bull market timing of the relatively new crypto market is still subject to debate. “My baseball analogy is causing some confusion since there's no consensus on how to categorize phases of a bull market or even where it starts,” he said.

Ari Paul then explained how he views the currency crypto market bull cycle saying that ”2019 to mid-2020 was the first 40% of the bull cycle (measured off the lows).” This is followed by the period characterized by the marked increase in institutional interest which saw large firms buying BTC. “Q3 2020 through early January 2021 was the next 25% of the bull run, call it innings 4-6 roughly,” he added.

Based on Paul’s explanation, the market is now currently on the bull run’s 7th inning. “As long as BTC is consolidating, I expect alts to continue doing reasonably well,” the CIO said. “At some point, BTC will start another parabolic move higher and it'll likely outperform alts on the move. That move will trigger the next surge in new money.”

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Moses
  • 2021.03.10 08:15:44
I am a crypto currency trader and i make over 200% daily trading all day and night and also by passing even when market is down and others are resting , If you are interested, I can teach you how to trade and also help you achieve your goal in life with crypto i can turn 4 btc into $3650,000.00 in less than four weeks, now that bitcoin has high prices...please note that crypto currency trading is bitcoin unlike binary and Forex,bitcoin is traded for altcoins , bitcoin can also be traded for Ethereum, Litecoin, United States Dollar, Ripple, Euro, IOTA, and other stocks you need to put to trading on a daily basis with a very correct strategy and a target of profit as you get into the trading market with your capital. Also you can reach to me if you are new to bitcoin and to give you more info and guideline on how to invest smartly, this is opportunity life time knocking on your door ???? inbox me for more info....contact me on WhatsApp +1(206)-742-5358
  • 0
  • ·
  • 0
  • AndreaMunro98
  • 2021.02.18 18:03:44
I had 7 items removed, and my credit score from all three bureaus went up over 400 points. Yes, if you have the time and right link, you can absolutely do this stuff too. File your reports to S W I F T C R E D I T R E P A I R 2 6 at G M A I L dot C O M, and get your score improved in a few days. Thanks guys my new score is about 790 now.
  • 0
  • ·
  • 0
  • ThelmaDaniel66
  • 2021.02.17 01:07:18
I never knew he could fix my score till I tried him and now my score is 796 , thanks to him i am honestly grateful
  • 0
  • ·
  • 0
  • Bitcoin09
  • 2021.02.15 11:12:15
I DON'T BUY BITCOIN, I EARN IT DAILY FROM MY INVESTMENTS WITH THIS PLATFORM. https://cryptoforex345.com/
✅NO REGISTRATION FEE
✅INSTANT WITHDRAWAL
✅5% TO 15% REFERRAL BONUS IF INTERESTED.
 I EARN MORE THAN $1000 DAILY WITH THIS PLATFORM AND IT IS 100% SAFE AND GUARANTEED.  TESTIFY THE RELIABILITY OF THE PLATFORM YOURSELF WHEN YOU SIGN UP AND EARN.
CONTACT CUSTOMER CARE VIA  WHATSAPP +44 7451 272215 FOR MORE DETAILS.  
  • 0
  • ·
  • 0
More
  • Bitcoin (btc) $54,984.00 (-10.91%)
  • Ethereum (eth) $2,130.71 (-12.27%)
  • Binance Coin (bnb) $456.75 (-14.24%)
  • XRP (xrp) $1.28 (-22.13%)
  • Tether (usdt) $1.00 (+0.54%)
  • Bitcoin (btc) $54,984.00 (-10.91%)
Apr 18, 2021 (Sunday)
08:50
BTC Drops by 1.02% Within 5 Mins, Marking 55,377.46 USDT
08:05
BTC Drops by 1.04% Within 5 Mins, Marking 55,899.53 USDT
03:34
BTC Drops by 6.05% Within 5 Mins, Marking 53,006.62 USDT
03:23
BTC Drops by 6.19% Within 5 Mins, Marking 54,498.5 USDT
03:20
BTC Drops by 1.75% Within 5 Mins, Marking 57,373.57 USDT
Apr 16, 2021 (Friday)
10:00
DOGE Tops List Of Crypto Net Inflow With $1.69 Bln In Past 18 Hours
06:04
BTC Drops by 1.02% Within 5 Mins, Marking 61,190.87 USDT
04:37
BTC Drops by 1.08% Within 5 Mins, Marking 61,928 USDT
03:33
Class ZZ Deployed Cross-Chain Contracts On ETH, HECO, And BSC
02:30
Crypto Market Sentiment On Apr 16: Market In "Extreme Greed"
02:00
DOGE Tops List Of Crypto Net Inflow With $884.07 Mln In Past 10 Hours
01:37
Class ZZ Mainnet To Undergo Maui Fork
01:36
Data Summary Of Boboo.com's Perpetual Contract: April 16
Apr 15, 2021 (Thursday)
10:00
DOGE Tops List Of Crypto Net Outflow With $345.17 Mln In Past 18 Hours
07:43
TriumphX Signs MOU For Content Supply With Inamu To Launch Webtoon NFT Platform
02:30
Crypto Market Sentiment On Apr 15: Market In "Extreme Greed"
02:00
BTC Tops List Of Crypto Net Outflow With $419.77 Mln In Past 10 Hours
01:33
Data Summary Of Boboo.com's Perpetual Contract: April 15
00:00
BTC Surges by 1.05% Within 5 Mins, Marking 63,285.55 USDT
Apr 14, 2021 (Wednesday)
17:38
BTC Drops by 1.37% Within 5 Mins, Marking 62,883.9 USDT
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft