Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Bitcoin can go to 42000$???
by
figmentofmyass
on 24/07/2019, 23:36:30 UTC
⭐ Merited by actmyname (1)

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.