A popular crypto analyst has just revealed his long-term goal for Bitcoin’s current cycle-and it’s a big one. The pseudonymous trader, whose alter ego is Filb filb, tells his 85,000 Twitter followers that his goal for the top cryptocurrency is now $180,000.
The analyst points to the halving of Bitcoin, which is now about a year away, as the main catalyst.
The halving, which occurs every four years, will reduce the amount of new BTC entering the market from 6,25 Bitcoin per block to 3,125 Bitcoin per block.
$180k; that’s the target.
— filbfilb (@filbfilb) February 19, 2023
The tightening of supply historically coincides with large movements in the price of Bitcoin, and the trader believes that this time it will be no different.
Bitcoin will be halved in March 2024. If history says anything, then you have 18 months absolute max to get your shit in order before we start doing all sorts of crazy stuff again above the all-time high.