My Bitcoin Price Prediction
A Quick Review Of Bitcoin’s Nature
From the Dot.com crash of 1999 till the Great Recession in 2008, the necessity for a savior in the financial market was tangible.
Manipulation of fiat commodities by the government has been a crucial downside for our economy in any aspect. Bitcoin can be that savior which has been anticipating for a quite long time.
The idea of Bitcoin in simple words; Its system was designed to transact between users without passing through a third party, such as a bank or payment gateway. It is designed and kept electronically. Bitcoins can be produced by computers all around the world. It was the first version of what we today call cryptocurrencies. Bitcoin can be an alternative to credit cards or cash. But it has some crucial advantages over fiat digital currencies which we describe down below.
- Decentralization: no third party can regulate the Bitcoin network.
- Limited supply: the supply is limited to 21 million.
- Anonymity: the identity of Bitcoin users will remain anonymous.
- Immutability: Bitcoin transactions cannot be modified.
Prediction in this highly volatile cryptocurrency market is highly challenging as the prices depend upon various factors along with two of the most fundamental market forces of demand and supply.
Bitcoin drop Prediction, December 2017
Last year in the late of 2017, bitcoin price was rising enormously, many have already entered the cryptocurrency market, and a vast number of other aspired to join this attractive market. In an interview with national news program on television, I have felt the social responsibility on my shoulders to advice people deescalate entering such an enticing market, without consultancy of experienced and trustworthy experts and analyzing possible challenges in such agitated market.
I predicted Bitcoin price reduction to one-fifth of its ATH and explained that as Bitcoin price has boosted fast and enormously, also its fast price correction is totally expected and it will experience a downtrend in the next weeks. Now, after about one year Bitcoin price touched one-fifth of its All Time High price (ATH) at $3500.
Bitcoin $200K-300K ATH Prediction, Late 2021
Due to my studies over Bitcoin in last 7 years, I’ve reached to the point that Bitcoin price will experience a dramatic rise in the middle of 2019, which continues moving up till the end of 2021 and it will touch its ATH which is going to be $200-300k at that time.
So many people asking me, how I end up with that huge number ($200-300k) by the end of 2021, well here is my reasons that led me to this prediction;
So far we’ve seen two Bitcoin halvings: The first one was in 2012 and it occurs about every four years or, after 210,000 blocks have been mined. Approximately a year after the first halving, Bitcoin price rose to $1,000(highest price ever recorded). In 2017 a year after second halving, Bitcoin again rose and set another ATH (All Time High) price.
To find a logical pattern, we could say Bitcoin price booms one year after each previous halving and forces more people to buy on the market rather than mining. However, history doesn’t always paint a complete picture when it comes to the cryptocurrency market.
I believe that when humans, live in the virtual world with their five senses, neither fiat currency nor gold could be able to be used in such world, except cryptocurrencies. In my opinion because of a fundamental definition in the economy, which is Supply and Demand, and also popularity of bitcoin which is facing open arms by people day by day, bitcoin price rises sharply in the near future and these two lead the way to get near to the price I have predicted in 2022. Accordingly, $20 Trillion won’t be a bubble at that time.
Previous trend actions
There are some significant data in charts which repeat every 4 years & the reason why some analysts cannot see them clearly, is the Greece economic crisis that happened during this time. This specific period of time affected the charts of bitcoin and misled the analysts & experts. What really happened was that the Greek citizens really needed a store of value that is safe from confiscation, can be purchased with cash and has similar properties to money. Bitcoin meets these requirements. This was combined with huge media hype and triggered off a wave of demand for Bitcoin which most of them was requested by Greek people. If we exclude Greece economic crisis from the chart of Bitcoin, my prediction for 2022 is tangible.
Websites that has referred to this prediction: