Bullish Forecasters Rejoice Over Correct Predictions — ‘$200-300K Bitcoin Looks Almost Too Programmed’
The leading digital currency bitcoin ( BTC ) has been on a tear during the last few weeks as it has continuously gained value week over week. It’s safe to say that September wasn’t the greatest month for BTC , and October was a complete reversal.
Throughout bitcoin’s lifetime, traditionally the last three months of the year are notable times when BTC sees significant gains. 23 hours ago, on October 19, the notorious bitcoin analyst Plan B tweeted a checkmark after BTC tapped $63K on Tuesday, because of the prediction he made on June 20.
At that time, Plan B said his “worst case scenario” BTC price prediction for 2021 (price/on-chain based)” would be: “Aug>47K, Sep>43K, Oct>63K, Nov>98K, Dec>135K.”
His correct forecast and checkmark tweet highlighting the $63K goal has been retweeted close to 5,000 times and the tweet has more than 30,000 likes today. Another crypto market analyst, dubbed Techdev , has been very bullish as well, telling his 88,700 Twitter followers what he expects for bitcoin’s future prices.
Techdev Still Insists Bitcoin Is ‘Nowhere Near a Top’
26 days ago on September 24, Techdev tweeted “$200-300K bitcoin looks almost too programmed” as he shared a chart of Fibonacci stats. On October 20, as bitcoin ( BTC ) continues to hold above the $64K handle, Techdev is still very optimistic.
“[Bitcoin] 2-week chart looks strong and ready for much higher highs,” the analyst tweeted on Wednesday. “Expect RSI to peak around 93-94. Stoch RSI should be maxed and flat at that time as well. Both halfway there from July low and the $ increase per indicator value should accelerate from here. Nowhere near a top,” Techdev added.
Techdev shared a tweet from another bitcoin proponent called “Crypto Caesar” who is also very bullish. The tweet stemmed from commentary Crypto Caesar made in the summer months when BTC ’s price was much lower.
“Nothing has changed on my previous opinion,” Crypto Caesar said about a week before Plan B’s ‘worst case scenario’ forecast this past summer. “I firmly believe we are still in a bull market. 64k was NOT the top (not even halfway!). Patience. HODL.”
Anyone with access to a logarithmic BTC /USD chart that extends from the beginning of bitcoin’s first price point until today can clearly see the possibility of a “double-top” or “double-bubble” scenario. The 2017 bitcoin bull run did not have much of a double bubble run up and it was mostly a single-run parabolic jump toward $20K.
However, in 2013, bitcoin ( BTC ) clearly had a double bubble , jumping over $200 per coin in mid-April 2013 and then diving to $70 per unit. After that dip in the spring, BTC surprised everyone when it reached a high of $1,250 per unit in December 2013.
What do you think about Plan B’s correct prediction and Techdev’s current forecast that bitcoin is nowhere near a top? Let us know what you think about this subject in the comments section below.