Post
Topic
Board Speculation
Re: Bitcoin Will Surge to 62k!
by
timerland
on 21/06/2019, 13:39:11 UTC
"Although theories regarding any massive parabolic movements in the near-future remain purely speculative, one prominent analyst is now noting that Bitcoin could surge to above $60k based on historical price movements, which could happen as soon as Fall of this year."

-https://www.newsbtc.com/2019/06/18/bitcoin-historical-analysis-signals-that-btc-could-surge-to-62k-later-this-year/

This is some sort of speculation and some sort of technical analysis, do you believe that this might happen, for me the former ATH is possible but if this will happen it will truly shock the industry and the people who does not know crypto yet.

It seems like yesterday when the mainstream media seemed to be ultra-bearish and calling for bitcoin's demise every single day. It just goes to show how sensationalist they are, and how much they are influenced by mainstream investor sentiment. It is a quality indicator of market sentiment, though, I'll tell you that. As to the actual analysis, not so much.

Right now, I would not jump to conclusions and say that BTC will even move above the all time high by this year. Let's not forget the fact that this bull market is still in its infancy and will likely see a lot of resistance at least for the latter part of the year, as investors are still somewhat uncertain as opposed to fully euphoric as what happened in 2017.

I think that given the improved fundamentals, such as LN and the recent inflood of institutional investors, and their BTC-based trading activities, these predictions of a 6 figure bitcoin are not entirely possible - but I feel like that they are based off arbitrary numbers as opposed to any tangible evidence. And if they were to happen, I think they will occur much closer towards 2020 when halving will have a psychological factor on investors, as opposed to now.