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Bitcoin Quickly Hits Target & Has Healthy Pull Back But Bull Market Remains Intact

Jan 11, 2021 • 2 Min Read
Author
David Grider
David Grider

After raising our outlook 50% from $25,000 to $40,000 on December 30th, Bitcoin quickly rose to reach our target late last week. Prices then started to consolidate and slide over the weekend before retracing ~25% down to ~$30,000 and now rebounding to ~$33,800. Bitcoin and crypto are volatile assets, but the speed at which prices moved to hit our target was quite fast and we think a pull back is healthy. 



We don’t think the retracement was indicative of a bull market top – to be clear we firmly believe the fourth crypto bull market remains intact. We think the sell-off was simply a com...

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