The giant bull market ahead: SP500 to reach 30000 in the future
The 2008 great recession marked the end of an era beginning since the great depression. Since then we have begun a new bull market. I strongly believe that the advent of blockchain technology and cryptocurrency heralds this new megacycle.
Using Elliott wave theory, the 12 years up to the March 2020 crash mark wave I of this new cycle -- before us lies an economic boom manifested as a giant wave III. I don't know when this top will occur -- it could last many decades. Wave III usually extends 1.618 the percent distance of wave I. Therefore, I can surmise is that a 1.618 extension of the recent 12 yr wave I shows that we should hit 30000 sometime in the future. We are currently at the very start of this wave III.
This is my wave count for wave I
This is something to think about when contemplating your future and that of your descendants.
Using Elliott wave theory, the 12 years up to the March 2020 crash mark wave I of this new cycle -- before us lies an economic boom manifested as a giant wave III. I don't know when this top will occur -- it could last many decades. Wave III usually extends 1.618 the percent distance of wave I. Therefore, I can surmise is that a 1.618 extension of the recent 12 yr wave I shows that we should hit 30000 sometime in the future. We are currently at the very start of this wave III.
This is my wave count for wave I
This is something to think about when contemplating your future and that of your descendants.