If you’ve perused Crypto Twitter at all over the past few months, you likely have noticed a Bitcoin price prediction mentioned incessantly. No, it isn’t John McAfee’s call that BTC will hit $1 million, or $2 million (haha), by the end of 2020.
The prediction in question is one made by a user of 4Chan, who used an image of a Japanese anime’s main character, Asuka. As such, the prediction has been dubbed “Asuka’s Bitcoin prediction.”
The poster of this prediction predicted in January 2019 that the move to $3,200 on December 15th, 2018 was the final bottom for Bitcoin, that the cryptocurrency would hit $5,300 in April, that BTC would top $9,200 in July, and so on and so forth. The first three facets of his predictions came to fruition (surprisingly enough), and due to this, many believed that the seeming time traveler or market soothsayer had accurately foreseen Bitcoin’s price action into November 2020.
So at the start of this month, you had some investors buying into the theory that the prediction would play out, meaning that Bitcoin would top $16,000 in October. But right now, on the evening of October 31st, Bitcoin is trading at a mere $9,350 — dozens of percent shy from the $16,000 predicted by the anonymous 4Chan poster.
$121,753,769,543 of USD will flood into Bitcoin over the next 25 hours.
Screenshot this. pic.twitter.com/vV7hDMAgvU
— The Crypto Dog📈 (@TheCryptoDog) October 30, 2019
Unless Bitcoin’s price can surge by $7,000 (or some 80%) within the six hours, the prediction is dead. Sure, Bitcoin just saw a 42% day last week, but 80% is stretching it if I’m being honest.
This may leave you wondering — do bulls have anything to look forward to. According to a number of analyses, for sure. 100%.
Filb Filb argued in a recent Twitter thread that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses. As Filb’s chart below depicts, the last time the 50-week crossed above the 100-week, Bitcoin rallied for months straight, surging to fresh highs month in, month out. Historical precedence would suggest the same is about to happen… again.
Sure the 50/200 DMA $btc death cross is getting everyone super bearish but End of Nov/ Start of Dec the 50/100 WMA is due to cross which is far more significant. pic.twitter.com/ifGWguAtd5
— f i l ₿ f i l ₿ (@filbfilb) October 30, 2019
Also, as reported by Ethereum World News earlier this month, Mitoshi Kaku noted that the one-month Ichimoku Cloud’s first lead line has crossed above its second, flipping green for the first time in months.
He wrote in a response to the inquiry about the indicator that this “could be the start of something beautiful”, referencing the idea that the Ichimoku Cloud is currently predicting that Bitcoin is soon to enter a long-term bull market.
Photo by Scott Rodgerson on Unsplash