Mysterious predictions hit one after another, is BTC rushing to $56,000 according to the script?

A chart on bitcoin price forecasts fired on Reddit. An anonymous author published the forecast on January 21 this year, listing some key price points for Bitcoin in 2019 and 2020. According to forecasts, Bitcoin will reach $5,300 in April 2019 and $9,200 in July 2019. Putting the forecast price on the BTC's monthly price trend, we find that these two points are basically consistent with the facts.

The author's third prediction is that Bitcoin will reach $16,000 in October this year. However, Bitcoin plunged sharply last night and once fell to $9,580, temporarily reporting $9,698, down 4.48% in 24 hours. Today is August 29, and time is about to enter September. In other words, Bitcoin will rise 65% in more than a month to reach the target price of $16,000 . At the same time, the forecast said that the market capitalization of Bitcoin will be reduced to 40%-46%, far lower than the current 69.3%. The current mainstream currency market is bloody, and if the forecast is accurate, it also means that the mainstream currency market may eventually erupt.

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Source: QKL123

How high can Bitcoin create? This has always been a hot topic for investors. The anonymous author also gave his answer – $56,000, the specific time point is July 2020 . However, it is worth noting that the author predicts that Bitcoin will quickly dive after hitting an all-time high, and the price in November 2020 may be only $8,700.

This picture sparked a hot discussion on the Reddit forum. Netizen jmrooney said that if Bitcoin really reached $16,000 in October, this forecast would trigger a full-fledged FOMO (fear of missed) sentiment and thus reach every subsequent forecast price.

Netizen MistEchoes said that he does not think this prediction will happen. If Bitcoin is adopted as a currency, this will definitely happen, but this has not happened yet. The two recent plunge is also the dealer's manipulation. It is best for everyone to leave the market before the next big fall. The dealer will not try to use Bitcoin, nor will they think of using Bitcoin as a currency. They only trade, just to raise the price to harvest the leek.

Johnsom3 also does not recognize the high price of $56,000. He said that the market is satisfied with the valuation of Bitcoin's $10,000, and every time it falls by $1,000, more and more people will get on the bus. The price of more than 20,000 is a bit unrealistic, but 9000 to 10,000 is the current bottom.

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