As the Federal Reserve ratchets up its tapering efforts, I expect bitcoin to descend further down and bottom out somewhere closer to $14,000 I don't expect it to stay in that area($14k-20k) for too long. It is more likely price stabilizes and ranges in the $ 20,000s($24k-$28k). Once the Fed realizes its policy error and is forced to open the tap again by resuming quantitative easing sometime within the next 12 months. I expect all risk assets after a substantial move downwards of which for bitcoin, I am targeting a move to the downside of almost 60% to $14,000 after which it should resume ascent towards $120,000-160,000 per bitcoin. The eurodollar futures market is already expecting the Fed to ease by 2024. I expect something in the economic engine to break sooner forcing the fed to reverse course towards quantitative easing pending any other exogenous shock-like (WW3, Runaway inflation triggering another great depression type economic event)
