Here are my Bitcoin price predictions:
1. BTC stable at around $400-$500 for the next few months.
2. 40-50% spike for block halving hype.
3. Retracement back down to $400-$500 level.
4. Slow rise to $700 per BTC once weak hands are out.
1. BTC stable at around $400-$500 for the next few months.
2. 40-50% spike for block halving hype.
3. Retracement back down to $400-$500 level.
4. Slow rise to $700 per BTC once weak hands are out.
Ugh. More ultra-specific predictions with no supporting evidence whatsoever.
You could also just ask me
. Here are the reasons why below. Numbers match numbers above.1. BTC will remain stable because the world is uncertain right now and BTC is a good place to store value. If it goes higher than $500, a portion of the people that buy low and sell high for a profit will definitely sell, including me. This portion is limited to people who sell BTC for USD, as selling in any other currency is probably a riskier bet (especially CNY, the second biggest after USD).
2+3. The spike is an educated guess based on how hype seems to bump up the value significantly and then BTC falls again once the hype wears off.
4. Due to the lower inflation, BTC will be able to gain value more easily. It will be a slow rise because people will be cautious due to the rise and fall from block halving hype.