Bitcoin will reach $703.687 per Bitcoin before 2020 following it's current trendline
Bitcoin has been following a very strong support/trend line over the last 2 months. It has already hit this line over 11 times. Now I know "almost a million per BTC before 2020" sounds a bit crazy, but the figures don't lie.
As we see below the support/trend line clearly is following a pattern.
It won't go below it as it bounces back up again as predicted in my below articles:
bitcoin-is-coming-down-but-it-s-good-thing
bitcoin-hits-the-support-level-trend-line-for-the-10th-time-and-is-shooting-back-up
But one thing is pretty clear here, if Bitcoin will continue to respect this support line for another 2 years we could be looking at a price of $703.687 per Bitcoin.
Following the support / tend-line we can see a growth of 60% per 2 months, now if we take todays' Bitcoin support line price of $2500 x 60% with a of 12 grow factor (2 years) we come to the amount of $703.687 per Bitcoin on 8 July 2019.
I know there are a lot of risks and external factors that could influence this growth (negative or positive) but the trend-line is there and it seems to respect it.
Now if Segwit is through and there is more stability.... To the moon
Yours Truly,
CryptoPaul
You know, I hope you're right but I think such a high valuation in two years may not be realistic. Simply put the market cap of BTC by 2019 at a $700,000 per coin price would be around $11 Trillion, more than the daily volume traded on Forex (~$5B)
These things do move in waves for sure. And we just hit a massive one upwards over the past few months. But I don't know if it can sustain that level of acceleration by extrapolating three months of data and projecting it forward two years :)
But hey, I'd personally love to be wrong here. Crossing fingers hehe
You are absolutely right here... but as described, if the trendline is being respected... and only if ::))
Great storage of Value over Time.