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Would Bitcoin price hit $16000 by the end of October?

Would Bitcoin price hit 16000 by the end of October

The king of cryptocurrency Bitcoin (BTC) has taken a huge rally and there is speculation that Bitcoin price can take another rally before the month ends.

Bitcoin the first of its kind is by far the most popular decentralized digital currency with enormous market capitalization and value.

It dominates the economy, stumping its competitors by its whopping sixty-eight percent share. A few days ago, this value succumbed to the bears, dropping to $7500, but the bulls aided the rise to the current value of $9400.

Bitcoin price chart 1 - 28 October 2019Bitcoin price chart by Trading View

Bitcoin price to hit $16000?

This rise is starting to prove the prediction made on 4Chan by an unknown user on the 21st day of January, foretelling the rise which was to come through April to November of this year. This user further claimed the advancement to $16,000 by the end of October.

Furthermore, the prognostication indicated a surge through the following year signifying the last three months of 2019 to be the “accumulation phase”, rising steadily till they “boom”. They mentioned that the fall was in 2018 on the 15th day of December (where prices actually dropped to nearly 3,100 dollars), for and after which the charts speak for themselves.

Bitcoin price prediction and projection:

  • April 2019 – 5,300 US dollars – Bitcoin
  • July 2019 – 9,200 US dollars – Bitcoin
  • October 2019 – 16,000 US dollars – Bitcoin
  • February 2020 – 56,000 US dollars – Bitcoin
  • November 2020 –87,000 US dollars – Bitcoin

It further mentioned a market capitalization of nearly two trillion (1.5T), with dominance lying at only forty to 46 percent.

It is rather eerie, yet fascinating how these prognostications have not been debunked. Rather, they are quite accurate; occurrences to anticipate for the everyday member of the BTC community. Having been proven correct so far, with values surpassing the stated numbers during July by $400, individuals are awaiting the end of this month to see how accurate of a prediction it really is.

The increase may have a direct correlation with the Chinese president Xi Jinping’s deceleration in favor of the blockchain system. Whereby individuals were prompted to take the advancements as a pivotal breakthrough for decentralized innovation of basic technology in order to raise investments.

Irrespective of the foretelling and news, some remain skeptical of the bullish momentum. A CryptoHamster Tweet begged to differ, showcasing bearish spikes alongside the Relative Strength Index to have dropped thereby increasing the chances of the value of $9000 lowering once more.

 

Regardless of these indications, Bitcoin price tren has had a history of disregarding foreseen occurrences, moving forward to chart its trajectory. Presently, the 4Chan predicted values are prevalent. It is only a matter of time; the 31st of October is merely three days away.

Shawn Du'Mmett

Shawn Du'Mmett

Former IT development and consultant, remote team and collaboration expert, PM, CCO, writer, dreamer, idealist looking to collaborate with global teams on a global teal/turquoise organisation. Shawn's dream is working together openly, to get what writers need and want, and to solve biggest global problems. He is building a collaboration system from the start that everyone can own and define, allowing them to work together, to decide how it works and to their highest ideals.

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