Bitcoin price will be $ 27,395 in 4 months?

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Investor Trace Mayer said he believes Bitcoin is currently underestimated and that its target price for next February (only four months) is $ 27,395 per Bitcoin . It bases this forecast on the steady increase in Bitcoin's 200-day moving average.

Trace Mayer, J.D. was one of the "first popular bloggers to publicly recommend Blockchain technology" according to his website. At the time, Mayer recommended that his followers acquire Bitcoin , the price per coin was only US $ 0.25.

Like most early Bitcoin supporters, Mayer is extremely wealthy, having recently challenged Roger See to a bet of 25,000 BTC . There are few people in the world with enough cash to make $ 121 million bets. In addition to its early adoption and recommendation from Bitcoin , Mayer provided investment for Kraken, BitPay and Armory.

Technical Analysis: What are moving averages?

Technical analysis is the art of trying to determine the future price movement of an asset based on its history. While many claim that it is merely a pseudoscience, others believe that technical analysis has its roots in human psychology. Analysts are clear in pointing out that their work is based on probability, so it is possible to say that the price will probably go up or down, but the unpredictability of the markets prevents it from being a certainty.

Mayer's 200-day moving average is simply the average price of Bitcoin in the last 200 days. Every day, the oldest day data is removed, the closing price of the most recent day is added, and the metric is recalculated. As the 200-day moving average is weighted with these old price data, a gain market is significantly behind the current price. The objective of the measure is to show the general trend of the price movement.

In the case of Bitcoin , the 200-day moving average continues to increase, indicating that we remain in a high market (the timing is on the bulls side). If the moving average decreases, this would be a sign of weakness and possible reversal. The current price should remain within a certain reach of the moving average. If the price is much higher, the gains are probably unsustainable.

Mayer is forecasting the 200-day moving average will continue to rise, and that Bitcoin will remain at a reasonable level above the measure. Only time will tell if Mayer is right or wrong, but the story certainly seems to be on your side.
Higher probability of bitcoin going to $1,000 than even $10,000
After seg2x hard-fork we will see 3-4 months going down. It just needs to, to became healthy.
Also this is based on Fundamentals and Technical analysis
+3 回覆
botweb nunojusto
@nunojusto, Totally agree with you. But there is a possibility that the hype strenghens and keeps up until early next year. We'll see :)
Roberto1985 nunojusto
@nunojusto, Agreed! The recent and ongoing increase is just too much to be healthy. Initially I would have expected a decrease around 5,100 USD but now not sure what it is going to be.. Either around 5,500 or around 6,000 or even more than 6,000 USD. Anyhow, it should be correcting in the months to come as it is unhealthy. Only 3-4 weeks ago we dropped all the way to 3,000 USD and now we're at ATH... :)
nunojusto Roberto1985
@Roberto1985, Let's hope it will goes to 6500-7000 or so, to make the BEAR market goes only until 5000 as a correction.
Remember we never tested the All-time-high at 1300 value. All other were tested
Roberto1985 nunojusto
@nunojusto, True, even while I believe some others were less tested as well... interesting to follow though.. let's be on time when the decrease starts :)
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