Despite the fact that the current bearish trend and the fall of Bitcoin by 84% suppressed most of the enthusiasm that the market experienced during the parabolic advance in 2017, cryptoinvestors still believe that in the long run the price of Bitcoin will reach more than $ 100,000.
A well-known crypto trader and lead author of the popular graphic site TradingView, MagicPoopCannon, surveyed more than 20,000 of his followers on Twitter, hoping to find out what, in the opinion of the collective community of cryptoinvestors, will reach Bitcoin in the long term.
The results are in! 42% of the BTC will surpass $ 20,000. Very nice. 😁 https://t.co/85JxiXcYj9
– MAGIC (@MagicPoopCannon) February 27, 2019
The trader himself believes that the price of Bitcoin will reach "no less than $ 100,000 over four years," adding that he thinks that "he can even reach $ 150,000 during this time." In the end, he says, he can "exceed $ 1,000,000."
The overwhelming majority of his followers agree, a poll showed on Twitter, which the trader created. 42% of the nearly 3,000 voters believe that the price of bitcoin in the long run will reach 100,000 dollars. 30% believe that Bitcoin will reach from 20,000 to 100,000 dollars, and only 13% believe that its value will exceed 3,000–20,000 dollars.
For my long term view, I’m going to go to at least $ 100,000 within four years. I think it could even reach $ 150,000 in that time. Eventually, I believe it could surpass $ 1,000,000. BTC going in the long term?
– MAGIC (@MagicPoopCannon) February 26, 2019
Only time will tell where the price of bitcoin will eventually find the maximum, but the technical analysis of MagicPoopCannon, which has been conducted for most of the last two years, may indicate that these high predictions may become reality at some point in the future.
An eccentric trader has earned his reputation thanks to the correct predictions that he made long before course movements actually occurred. There is no better example than critical support for Bitcoin at $ 6,000. The real decline did not occur until mid-November, but the trader was in fact constantly talking about the future fall in May 2018, six months before the powerful bearish movement.
Nine months ago, in the attached analysis, I showed you how BTC would fall to $ 3,000. Now, I believe the market has been bottomed at just above $ 3,000 last December. Time will tell. Here is a look at when most others were overly bullish … https://t.co/o9OsNk34aE
– MAGIC (@MagicPoopCannon) February 27, 2019
Now the trader declares that “the bottom is in the process”, and Bitcoin follows a fractal with a fall from the 2015 bear market, which led to a period of accumulation, before the bull market resumed. As soon as the bulls returned, when Bitcoin took off to $ 20,000.
