The saddest thing one ever said is that 4chan is right again.
So goes the meme, with a 4chan anon calling bitcoin’s price to the dot six months ago.
In calling the bottom in January, anon said bitcoin’s price would be $5,300 in April, and it was.
He, she, or maybe it, said bitcoin’s price would be $9,200 in July. Very close. It was at about $9,500 yesterday, July 2nd.
Anon further predicts bitcoin will be at $16,000 in October. There is no specific date, so it may well be the case it goes to $25,000, then correction down to $20,000 and then maybe briefly to around $16,000, with it then to rise according to anon to $29,000 in February 2020.
Eventually bitcoin is set to go to the moon, this entity says. The charts never lie, anon claims.
We can see here clearly bitcoin’s rise in April to $5,300 from what was at the time of anon a price of around $3,500.
Bitcoin then goes on rising, hitting a recent high of $14,000, but bears held off that line in first attempt. So leading to a correction with a recent low of $9,500.
What happens now is for the future to tell, but before you get all esoteric about time travel and whatever other nonsense, anon is basing his prediction on a certain pattern that bitcoin tends to form.
Since at least 2013, bitcoin rises by doubling about 4 or 5 times. Anon has put in nice numbers below the doubling, but it goes something like this.
Taking bitcoin at $3,000, it doubles to $6,000, $12,000, $24,000, $48,000, about $100,000 and then maybe $200,000.
Every time bitcoin has risen it has done so in the above form, but the past of course doesn’t necessarily predict the future.
It has so far for the past six months though, with this pattern perhaps a product of bitcoin’s technical design in the mining algorithmic changes, halvenings, and so on.
The simplicity of that design on the surface hides significant complexity underneath which might be leading to this pattern, but whether anon will continue to be right, remains to be seen.