Sunday, November 14, 2021

BTC Prediction: $70k by Wednesday

Disclaimer: I am not an investment advisor, and if you take this as investment advice you're stupid.

Why do I expect Bitcoin proper to go up by 10% or so over the next three days? Two reasons:

  1. The general outlook from people more knowledgeable than me is positive. They expect it to gain between now and the end of the year. It's been kind of lazing along in the $63-$65k range since the middle of the week after hitting its most recent record of ~$69k. I expect the next big move to be upward and substantial.
  2. The "Taproot" upgrade to Bitcoin's core code took effect yesterday. I've not seen any reports of problems with/from the upgrade, so I expect the Monday-Friday 9-5 institutional crowd to come to work in a bullish mood tomorrow.
Of course, it could be wishful thinking on my part, because I've set $70k as a tripwire for action of my own: Buying a second battery for my electric bike. I've been mulling the choice of buying a new battery, buying a new bike, or building a new bike from an old frame and new kit/gear, and finally came down on "new battery" (especially after it occurred to me that I could strip the motor, etc. from the existing bike and move them to another frame, rather than buying that stuff new).

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