CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • Fund
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$31,586.00
  • ethereum
    ETH$1,177.73
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » Crypto News » The Anonymous Forecast for Bitcoin Price That Never Was

    The Anonymous Forecast for Bitcoin Price That Never Was

    Author: Anatol Antonovici

    Last Updated Jul 5, 2020 @ 07:38

    An anonymous Bitcoin prediction initially published on 4chan made the headlines for being accurate with the first two out of six price targets. Even though it failed with the next two targets and disappointed believers, the crypto community is still electrified by bullish predictions for 2020.

    An Anonymous Prediction Almost Did It

    Technical analysis and fundamentals allow experienced traders and analysts to anticipate the subsequent price moves. However, even the most brilliant minds can’t guarantee that a price would follow certain levels, especially in the long run.

    At the beginning of last year, the crypto community screenshot the forecast made in an anonymous post on 4chan. That post turned into a meme after it managed to accurately predict the price in the first two instances. Even some technical analysts were baffled by it.

    The post, published on January 21, 2019, argued that the Bitcoin price had bottomed out on December 15, 2018, when it traded below $3,200. The “oracle” gave the following predictions for Bitcoin:

    • April 2019 – about $5,300
    • July 2019 – about $9,200
    • October 2019 – about $16,000
    • February 2020 – $29,000
    • July 2020 – $56,000
    • November 2020 – $87,00 (though he probably meant $87,000)

    “This will be a 1.5 trillion market cap,” the author added. “The charts never lie,” he confidently claimed.

    Indeed, Bitcoin has never traded below $3,200 since December 15, 2018. Moreover, the oldest cryptocurrency traded at around $5,300 in mid-April 2019 and displayed a price of about $9,400 at the end of July 2019 – just like the forecast suggested.

    However, it was probably too good to be true. The next predictions failed to materialize. In October, Bitcoin was trading at about $8,500, while in February 2020 it broke above $10,000 before crashing during the pandemic shock.

    Nevertheless, in November 2019, after the first failure, Binance CEO Changpeng Zao himself gave credit to the forecast, saying that the $16,000 level would come soon.

    Lol, price predictions are easy. It’s just hard to be right about the timing. We will see $16k soon-ish. 1.4 billion people working on it as we speak. https://t.co/mf9hKpP6Js

    — CZ Binance 🔶🔶🔶 (@cz_binance) November 1, 2019

    You Should Not Blindly Trust Bitcoin Predictions

    For others, the failed prediction was a lesson to avoid blindly following all kinds of price forecasts, especially if they impose themselves as very promising.

    A Twitter commentator compared that meme with the current frenzy around the Bitcoin price predictions for 2020, probably hinting to the stock-to-flow model that points to a post-halving surge.

    Good news! $55k this month, right?

    Remember when 80% of CT put all their faith in anonymous 4chan post?

    Yet, somehow in 2020 the world found a way to get even crazier then that. pic.twitter.com/xl2MmfIrCC

    — Mr. Anderson (@TrueCrypto28) July 2, 2020

    All in all, the only sure thing is that Bitcoin is here to stay, and its adoption will continue.

    Enjoy reading? Please share:
    Facebook Twitter LinkedIn Telegram
    SPECIAL OFFER (Sponsored)
    Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

    You Might Also Like:

    • filb2
      $14,000 By End of 2020 a Reasonable Target for Bitcoin's Price: Filb Filb in Exclusive Trader's Digest
    • Bitcoin Price Indecisive Above $10,000 As DeFi Coins Bounce on SUSHI News
    • prediction
      Analysis: Bitcoin Price Can Reach $90,000 By Mid 2021
    Read more on: Bitcoin Bitcoin (BTC) Price Bitcoin Long-Term Prediction

    About The Author

    Anatol Antonovici View more posts by this author

    Anatol is an experienced financial writer that turned to cryptos right before the craze of late 2017. Previously, he was into foreign exchange and stock markets, providing brokerage firms, asset managers, and other businesses with top-notch content. He is open-minded, trades for fun, and addicted to classical music. Contact Anatol: LinkedIn

  • bitcoin
    BTC$31,586.00
  • ethereum
    ETH$1,177.73
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    ADVERTISEMENT
    binance
    ADVERTISEMENT
    bitmart
    Bitcoin Editorials
    Ethereum 2.0 Staking on Exchange vs. Creating Your Node: What You Need to Know

    Ethereum 2.0 Staking on Exchange vs. Creating Your Node: What You Need to Know

    5 Possible Reasons For Bitcoin’s Price Surge Over $30,000

    5 Possible Reasons For Bitcoin’s Price Surge Over $30,000

    2020 Year In Review: Bitcoin’s Journey From $3800 To Nearly $30K

    2020 Year In Review: Bitcoin’s Journey From $3800 To Nearly $30K

    6 Reasons For The Ongoing Bitcoin Bull-Run Beyond $20K

    6 Reasons For The Ongoing Bitcoin Bull-Run Beyond $20K

    Is Blockchain The Answer To COVID-19 Led Misinformation and Rumor Mongering?

    Is Blockchain The Answer To COVID-19 Led Misinformation and Rumor Mongering?

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!