Quote from: Slow death on July 24, 2019, 09:18:18 PM

Quote from: interactivecrypto on July 24, 2019, 01:56:43 PM

Hi, do you think bitcoin can reach 42000$ as i read here https://www.interactivecrypto.com/bitcoin-predicted-to-reach-42-000-in-the-next-five-months-dan-morehead

This is definitely impossible, we are at the end of July with a price of $ 9600, there is nothing big that could happen in the next 5 months that would cause the price to rise to $ 42,000. Is an impossible that forecast, no matter what kind of calculations he makes...

let's draw an analogy to the 2017 bull market:

$42k is a 437.5% increase from $9600
$19666 is a 437.5% increase from $4495

we crossed $4495 during the last week of august 2017. 3.5 months later in early december, the market topped at $19666.

so it's definitely not impossible. there are even some signs that a 2017-like bull run is happening again. if the time window were 1 year instead of 5 months, i'd bet he's right.