A Bitcoin (BTC) at $ 387,000: Too good to be true?

A Bitcoin (BTC) at $ 387,000: Too good to be true?

By NassiroV | CryptoPress360 | 24 Aug 2020


Bet on a Rising Bitcoin Price Chart, Not on a Hardfork Freebie ...

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Bitcoin price predictions abound in the cryptosphere, some more wacky than others. One of the latest attempts to extrapolate BTC price movements after the 2020 halving , based on those that occurred after the previous halving , in 2016.

$ 325,000 Bitcoin: Too Good to Be True?

The most critical will immediately say that some believe a little too much in Santa Claus, but the latter will retort that a nice surprise could await Bitcoin after the end of year celebrations: a new historical high (ATH) of its course. And then, a nice bull run as a bonus a priori!

Vijay Boyapati , author of the epic “An Optimistic Scenario for Bitcoin” , explains in a series of tweets that he is more than optimistic for Bitcoin when compared to the post- halving price movements of the king of cryptos in 2016 and in 2020 .

This event, which cuts mining rewards in half, happened 100 days ago for the latest one . Comparing it to the previous speculative cycle of 2016, Vijay Boyapati recalls that it took 229 days for Bitcoin to exceed its old all-time high.

If the price trajectories were to be similar, then Bitcoin would experience the $ 20,000 again just after Christmas. But Vijay Boyapati does not stop at the old ATH and even gives a price estimate of a possible next peak of bull run:

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How about a $ 387,000 BTC while we're at it?

The statistics site econometrics has also done the exercise of comparing the last two halving, and, surprise, they are even more optimistic!

In this price forecast (very theoretical), BTC would have already doubled its previous ATH by the end of 2020, to $ 41,000 . The peak of the bubble would be reached in mid-May 2021, reaching a staggering 387,000 dollars!

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After all these forecasts, each more optimistic than the other, you have to know how to keep your feet on the ground. Even though these 6-digit numbers for Bitcoin make your head spin, there's nothing to say the situation will be similar. However, two things remain certain: the future of Bitcoin promises to be exciting ... and the half-hallucinated predictions concerning its price are not about to stop!


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NassiroV
NassiroV

Hi, and welcome to my blogs :)! ​I’m Nassir, a thirty-something guy who loves to travel and write, especially about Crypto and Blockchain. I have been blogging and trading cryptocurrencies for a while. I hope that you find my articles beneficial to you.


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