Bitcoin price predictions are in the crypto-currency industry since its beginnings, omnipresent, and particularly since the advent of crypto-Twitter popular. Although there were too many to keep track of. Some predictions, however, were very successful and even went viral – so you find yourself today still mention.
Such a prediction comes from the Twitter Trader @22loops. Although we do not believe that he is the exact date correctly, so the Bitcoin is expected to reach price probably nevertheless soon a low point and this makes its forecast as significant. In particular, given the timing, was made.
BITCOIN BOTTOM 24 OCT 2019
— Looposhi (@22loops) January 4, 2019
The 22loops proposed date for the low point of the 24 was. October 2019, so yesterday. Let us look at this in more detail – and how right he is with his forecast.
Contents
An All-Time Low
The Tweet was at 4. January made by us, marked by the yellow arrow.
The actual Depth was, however, at the 15. December reached when BTC was trading at 3.148 $. After that the price started an upward movement and increased by more than 300%.
The upward movement came to an end on 26. June – and since then the price drops. The prediction is met, however, no statement about whether BTC should reach an absolute or relative Low.
If we try to use the absolute Low to predict, is not one of the 3.174-$-December Low, as the price was traded in September of 2017, less than 1.5 years previously below this level.
We assume, therefore, that it is in the forecast as the Low of the 26. June 2019 beginning went correction.
Relative Low
If we look at the Bitcoin price movement since 2011, we can draw a curved trend lines to limit the extent of price movement.
To Halving the Position of the support lines and the proximity of dates (vertical lines) should match the low point in December 2018 with the in August 2015.
As shown below is consolidated, the price often before the halving, and are trading near the ascending support line.
It is to be expected, therefore, that the price is near the support line again reaches a low point.
Since the support line is rising, however, depending on when the price touches you – can be the price of this value of more than $7,500 in the current days.
However, looking at the daily movement, it is still likely that the price within the descending wedge, in which it is traded, a lower low is expected to reach.
This would put a possible low point in the low 7000 Dollar Region.
To sum up: in January 2018 forecast made is relatively accurate if you look at how close the current price is at the projected low point.
Text Reference: Leg-Crypto, Valdrin Tahiri