The times sure have changed!

The banks used to laugh at bitcoin, now they are calling for price targets that make even the most bullish bitcoin bulls blush.

I was actually wondering how long it would take for one of these guys to publish this.

I mean anyone looking at the charts can easily make a case for absurdly high prices during the peak of this current cycle.

I'm actually a bit surprised it took this long!

Tom Fitzpatrick published this in an email today to his clients calling bitcoin 21st century gold:

(Source: https://twitter.com/BitcoinMunger/status/1327300143104798720/photo/1)

It looks like he is simply taking the difference between the lows and the highs during the previous cycles and applying that to the current cycle.

A similar move from the lows to the highs as we have seen in the past would point to bitcoin topping out somewhere around $318k in December of 2021.

Will this actually happen?

Probably not.

It's likely that the peaks are getting lower and lower and taking longer to achieve, but the good news is that we only have a year or so to find out!

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