Analyst who predicted Bitcoin's bottom & current price says $16k by October

16 Jun, 2019
by Richard Allen
Price Analysis
Analyst who predicted Bitcoin's bottom & current price says $16k by October

An anonymous analyst made a post on January 21, 2019, where they accurately predicted Bitcoin would hit $9,200 before July 2019. Their post also predicts Bitcoin to be worth $16,000 by October this year, CryptoPotato reports

The analyst noted back in January that the markets were already taking a turn for the better, stating Bitcoin had hit its bottom on December 15, 2018. They then state that we were in the last three months of accumulation ending in March, which would be followed a slow and steady rise in prices before a boom.

Up until now, at least, the anonymous poster has been correct. December did mark the end of the bearish market and began a bull cycle as the analyst described in their post. Bitcoin saw a steady rise after March, after which it shoed several spikes, setting new yearly highs.

The analyst’s prediction of $16,000 by October is bold as Bitcoin’s price rally must sustain throughout the summer to climb a total of 72% from its current price. However, considering Bitcoin has already surged 127% in the last three months, their prediction is well within the realm of possibility.

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Read more about: Bitcoin (BTC)

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