If Bitcoin reverts to its long term trend... $42k by the end of this year?
Bitcoin price predictions usually aren't worth the paper they were written on...
Likely including this one.
However, this one is at least based on what bitcoin has actually done thus far, so I figured I would throw it out there anyways.
This one bases its predictions on the long term price trajectory of bitcoin.
Starting in 2010, we can see that bitcoin has grown at a 235% CAGR (Compound Annual Growth Rate).
The chart of that looks something like this:
(Source: https://twitter.com/PanteraCapital/status/1154074046692286475)
What does this imply about future prices?
Well, it could imply some very good things for the bulls.
If bitcoin reverts back to its long-term trend, we could expect to see roughly $42k by the end of 2019, $122k by the end of 2020, and $356k by the end of 2021.
Not quite John McAfee numbers, but they are way up there.
Will things work out exactly like this?
No, probably not, but if they are even remotely close, anyone buying now is going to be very happy.
Stay informed my friends.
-Doc
$1 BILLION Bitcoin by the end of the year. Maybe more. Imagine...
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Lol sounds like some of the 'predictions'...
I remember when Bitcoin was approaching 20k, people were predicting 100k by the end of that year. As we all know, that didn't happen, lol.
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I remember that as well. Tom Lee was predicting $25k by the end of 2018. He was looking conservative at the time. Yet, even his call turned out to be far too optimistic at the time. Though, I think we break that number within the next 18 months now, and hey possibly even this year. :)
We definitely will. Unless, of course, we don't 😅
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Ha, very true!
If it happens we are going to be rich !
Yes, your point of view is very good, I agree with you, I hope we can discuss it together. My whatapp number +85251290766
Looking forward to that.
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Yep, I would be ok with that as well.
Indeed. Did you ever get feedback regarding coinbase listing?
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Nothing yet. Will keep on them though. You should as well. The more people that keep mentioning it, the more likely it will get done.
I have a actually been bringing it up on various related post in comments etc. So making as much noise my side.
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Good deal. Keep that up. Hopefully we get some answers soon enough.
Yes, your point of view is very good, I agree with you, I hope we can discuss it together. My whatapp number +85251290766
I´m happy to see more and more people pointing to the $42k BTC price, that was my prediction from the moment we officially started the bear market...
Interesting, what was your reasoning?
It didn't come from me exactly, it comes from an incredible prediction method that I saw (here on Steemit) when I joined. More than 1.5 years have gone by and that analysis is still on track. It pointed to $42K and I fixed that number, so I´ve been spreading the word ever since.
Nice, do you have a link?
No, unfortunately not and I have no idea who was the steemian who posted that. I had no clue it would be such great analysis and if I saved the link, it was on the Chrome favorites which was cleaned when I had to fix my computer.
Ah dang. There are all kinds of historical trends and patterns which point to higher prices during this next bull cycle, if none of them are right, I wonder what that would do to the bull thesis for bitcoin...
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Awe hell, I still want $1 Million by 2020.
I think no one wants it more than McAfee :)
The long term trend is without most of the people engaging in the market. I doubt that will continue much longer. Too many other trends show dollar flight.
So, i believe your numbers are going to passed like some hot rod on a dark night on an empty highway.
But then, you have to take into account that at some point the bitcoin HODLers are going to sell. You know, why put off that house purchase, when its 1 bitcoin.
But, will they be selling / trading into infinite demand? or into tepid demand?
Yes, keep in mind those numbers are at trend line... Look what happens if bitcoin goes above that trend like it has several other times previously. :)
Hello! I am curious that how miners was back in mid 2017 which is 19k dollars value of bitcoin. I know that all retailer had out of stock graphic cards then skyrocketing the price of it.
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That was part of it. Also the euphoria leading into the first bitcoin futures products being launched was part of it, as well as the ICO explosion which required most investors to purchase bitcoin to participate.
Thank you for the information, I just started working by bitcoin wallet. That would be amazing !!
Yep, it sure would!
Yes, your point of view is very good, I agree with you, I hope we can discuss it together. My whatapp number +85251290766
Well that could happen for sure. Just have a look at Q3 and Q4 of 2017. I think we could see something similar again.
If we look at the cycles related to the halvings, I actually think 2019 = 2016 and 2020 = 2017.... which means we will have a really good year next year, end of year.