Even the best soothsayers and analysts with their advancing insights can sometimes be wrong. Many bitcoin investors had put their hope in an anonymous Redditer who already predicted the course well this year.
Not in October anyway
His (or her) prediction was that bitcoin would be worth $ 16,000 in October. Unfortunately, these predictions did not come true and bitcoin closed the month with 9,100 dollars (8,160 euros). That is a 75.8% difference
$ 121,753,769,543 or USD will flood into Bitcoin over the next 25 hours.
Screenshot this. pic.twitter.com/vV7hDMAgvU
– The Crypto Dog? (@TheCryptoDog) October 30, 2019
And when bitcoin rose 40% two weeks ago, even Edward Snowden thought $ 16,000 was possible, as witnessed by his tweet.
– Edward Snowden (@Snowden) October 26, 2019
China, blockchain and $ 16,000
Changpeng “CZ” Zhao, CEO of Binance, recently noted that Bitcoin can quickly become worth $ 16,000. More specifically, he wrote that:
“Lol, price forecasts are easy. The difficulty is the timing. 16K is on the horizon. 1.4 billion people are working on it while we speak. “
Lol, price predictions are easy. It’s just hard to be right about the timing. We will see $ 16k soon-ish. 1.4 billion people working on it as we speak. https://t.co/mf9hKpP6Js
– CZ Binance (@cz_binance) November 1, 2019
The prominent entrepreneur looked at China that has just embraced blockchain technologies. Many analysts expect a positive effect on decentralized cryptocurrencys and blockchains such as Bitcoin and Ethereum. Blockchain could just be the gateway drug to bitcoin.
You could call CZ a race optimist, or attribute his statement to the we-of-toilet duck syndrome, but he’s not the only one who sees $ 16,000 possible.
Working with Bollinger
John Bollinger, creator of the popular indicator Bollinger bands for ̶n̶e̶r̶d̶s̶ technical analysts, suggests that a huge revival is possible. Based on Bollinger, trader BitcoinGuru expects that bitcoin may end up higher than $ 14,000 this year. He even dares to state that $ 16,000 is possible on November 16th.
The trader substantiates this on Tradingview. He says that the 2016 movement and that of 2019 are ultimately very similar. It can take a few more weeks before we really see action, the course will move sideways according to Bitcoin Guru. And as soon as the next bullrun starts again, we will probably see $ 16,000 as the top.
He also says that if bitcoin does not support the weekly support of $ 7,700, then you can throw his analysis in the trash.
Related posts:
Why do cryptocurrency Exist – Institutions 
Bitcoin and independent property rights 
NASDAQ on market manipulation: Everyone is now talking about regulating bitcoin and cryptocurrency 
Pilot Porsche on Ethereum blockchain to trace provenance materials 
Xfers from Singapore is going to use blockchain Zilliqa 
Make your own tokens with the Guarda wallet
