An Anonymous user on 4chan has predicted that Bitcoin’s will reach $87,000 in November 2020. According to the 4chan the user had accurately predicted that Bitcoin would reach its lowest price in December 2018 at $3,200 and also predicted that BTC would rebound to $5,300 in April.
His history of precise predictions do not end there, as the anonymous analyst predicted that Bitcoin would trade at $9,200 in July which was close to accuracy as earlier this month BTC fell to around $9,500 before recovering.
The latest predictions claim that Bitcoin would climb steadily to $29,000 by February 2020. After which the coin would continue to rise before hitting its peak mark of $87,000 in November 2020.
The analyst also predicts there would also be a corresponding increase in market capitalization for BTC. The market capitalization is predicted to hit $1.5million and its market dominance would be around 40%-46%. This would mean that the total market capitalization would most likely be worth $3 trillion.
Looking at his analysis this could be possible from the current market trend. As at the time of writing Bitcoin is currently trading at about $11,478. Although it is about 40% below its historic high BTC has shown promise in the past two months.
By looking at BTC price history, we can see that the analyst has gotten a majority of his forecasts right or got close enough, so far.
According to the anonymous analyst himself “the graphics never lie’
The graph on display shows that Bitcoin doubles its price each time it enters a high. According to the precedent this pattern has been in place since the coin began to break even in 2013.
There have also been indications that the coin is well equipped to recover faster and maintain its rise unlike previous years.
One of the common occurrences in the cryptospace is the number of persons that make predictions on social network. Although majority of these are proven false, there are some crypto enthusiasts that make accurate prediction which goes beyond simply guessing.
It remains to be seen whether Bitcoin would follow this new pattern as the coin continues to struggle to break even from its current resistant point.
Do you think Bitcoin can hit the $87,000 mark in 2020? leave your comments below.