'Bitcoin is likely to rally to $150,000 by August 2023'

14 Mar, 2019 | Updated: 14 Mar, 2019
by Joeri Cant
'Bitcoin is likely to rally to $150,000 by August 2023'

Crypto analyst and self-proclaimed 'Crypto Pop Legend', is convinced that the next Bitcoin bull market is likely to rally to around $150,000, by August of 2023. 

The crypto analyst was labeled as a Bitcoin permabear last year, due to the fact that he was predicting that Bitcoin's price would plummet from $10,000 to $3,000. He turned out to be correct, which earned him a second title as 'seer of the future'.

'Don't forget, I was labeled as a "permabear" by so many bulls during this bear market, because I understood where the price was going and I was bearish when many people didn't want to hear the reality of the market. I warned of 3,000 while we were still above 10,000.'

Now he is claiming that Bitcoin is all set-up to begin its slow rise to the $150,000 price mark, which means that the next bull market peak is about 4.5 years away.

MagicPoopCannon points out that the price action of the 2014-2015 Bitcoin bear market is 'incredibly' similar, to BTC’s current price action.

'That price action is INCREDIBLY similar, to what is taking place today. It is the primary reason why I believe that Bitcoin has bottomed, and it is why I am frantically buying like the bottom is in.'

The 'seer of the future' admits that he doesn't know whether the bottom is actually in. He adds that the slight potential exists, that BTC could 'fall to one more lower low, later this year, despite this fractal symmetry to the last bear market bottom.'

'Things like the oversold spikes on the weekly RSI, lead me to believe that we could see another dip later this year, but I don’t really care. If that does happen (and that’s a big IF) I suspect it will only be slightly lower than the 3150 low of December, perhaps only to 3,000. Whether that happens or not, is something I truly don’t care about.'

Read more: 4 signs we need to see before Bitcoin's next bull run

At this point Magic Poop Canon is more bullish than he has ever been in his 11 years as market analyst.

'Now, I understand where the price is going again, and I am more bullish than I have ever been on any other market in my eleven years as an analyst. In my view, this next bull market is likely to rally to around $150,000, by approximately August of 2023.'

He realizes that is a very specific date, and that many people, most likely will scoff at it. However, he has great reason to believe his prediction will prove to be correct once again.

'This is what I have calculated and I have great reason to believe that my calculations will continue to prove to be accurate.'

Read more: 10 times Bitcoin was declared dead… and survived

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Read more about: Bitcoin (BTC)


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