Bitcoin Forum

Mark Yusko said in an interview that Bitcoin price can go up to $ 30,000 without correction.

What's your take on this?

what's his definition of a "correction"? that's what i'd like to know. we just saw bitcoin fall 30% ($13.8k to $9650). that seems to fit the definition to me! there were plenty of drops like this on the way up in 2017 too.

if he's talking about the next long term bear market (like 2014 or 2018) then i think we're going way past $30k first.

Keyword: can

While it theoretically can happen even though I think it's quite unlikely(it's 40% from ATH), it doesn't mean it will. I personally don't think it will though. $20,000 is a huge psychological barrier as far as I know. We're most likely going to have bumps below around $19,000 before we actually break $20,000 again.

that is pure nonsense because what you are describing only works in a pump and dump altcoin where the pumpers artificially increase the price in one go by injecting money usually from their sheep into that shitcoin and "pump" the price that high (in this case it would be 170%) and then immediately follow that up with the dump.

that is not how bitcoin works. the only way we can see $30k or 170% increase is with a solid investment just like how it has been happening all these years and that means smaller rises followed by even smaller corrections and incrementally rising until we reach that high.

not to mention that on the road to $30k even if we ignore everything else we still have the previous ATH ($20k) which will act as a big barrier where people sell and sells cause correction.

ps. don't confuse a 10% drop aka the correction with a gigantic drop of 50% to 85% which is crash and bubble burst. they are very different. and in this case even if you are misusing the word, the "bubble burst" is not going to happen on $30k, it will happen at least somewhere around $100k

The traditional market dynamics does not favour such a price increase without any significant drop in the value on the way up. We are driven by human emotions and demand and supply hugely affects the price overtime, and in my opinion, it is unlikely we make such a jump in price without correction.

Something extra positive has to emerge to make it up to $ 30,000 without correction. But when it comes to Bitcoin, anything is possible!

Question is at what price does he expect this to start happening $12, $13..... ? Lol! If btc can even go from current price to $20k without any correction will cause huge commotion in the crypto space and the world at large, and you can't imagine what the News Headlines will be ::)
He must be confuse making such statement.

It probably will at some point. I think there is a real possibility for another spike sometime in the future surpassing the ATH of $20,000.

Bitcoin is not fully anonymous. It’s semi-anonymous. And this is why if you control the gates and control the amounts of fiat currency swapped for cryptocurrencies you can track, from that point forward bitcoin basic (http://www.altcoinsidekick.com/), the route the flow of value takes.

Here are his exact words:


By correction, he probably means a significant pullback. Who knows though. Predictions like these always seem to be anchored on possibility, not probability. I didn't watch the full interview, but he didn't seem to cite any numbers to support his position.

Yes I saw that in my Facebook feed. About my thoughts regarding his statement, I've got to be honest with you man.

I'm not a fan of Bitcoin and cryptocurrency predictions. You know why? It's because the cryptocurrency market is unpredictable. Anything can happen in an instant whether if its good or bad news, or some crypto whales pumping or dumping it any time of the day without warning.

John McAfee predicted that it would go up to a million dollars by the end of 2020, and countless others are making their own predictions. Mark Yusko is just like any other predictors out there that has no guarantee that it would happen. Deal with it.

Although I enjoyed the bull run these days, but I would not count on that fully. Just sayin'.

If Bitcoin goes up to $ 30,000 without correction, we can buy XRP for 100sats, Ethereum for 100k sats, and BNB for around 5000 sats. Dominance can go above 90%.

I can not decide if it is good.

Surely there will be correction at the round of value, now itself we can experience the price getting into some corrective measures before crossing $15000. This way there is no possibility for growth to take power without any form of interruptions.

Whenever there is some forward push automatically there will be some form of FUD around. This will surely cause price to undergo correction at selective price barriers before reaching $30k which is an achievable price.

What? no correction? Are you kidding me? No market can sustain a parabolic growth not even bitcoin. I'm not familiar with this dude, but it seems he doesn't know a thing or two about how everything works in crypto. NO parabolic growth is sustainable, at least it needs to have a retracement in order to move on the next phase.

Firstly, here's an article about it in case anyone's interested: https://bitcoinist.com/bitcoin-price-will-hit-30k-in-2019-bull-cycle/.
Secondly, I think this guy's generally right that Bitcoin can very well reach $30k by the end of the year and there's at least a good chance that we'll see the previous ATH. But the phrase about it being a straight bull run "before we get another little correction" - I think, he just dropped it inattentively. Surely, there will be corrections like -10% and something like that. And calling BTC dropping like 70% of its value a "little correction" doesn't sound right to me. 

speaking in Mark Yusko, I will return a little to the past, precisely in NOV 11, 2017, he say:


Bitcoin $400,000 Says Investing Guru Mark Yusko (https://cointelegraph.com/news/bitcoin-400000-says-investing-guru-mark-yusko)

he predicted that bitcoin would reach $ 400,000; unbelievable


I do not believe that

Ahh no. It can though certainly won't without any form of corrections and setbacks along the way. Also, isn't he the same dude who said that bitcoin will continuously go on from $18k to $400k simply because people are buying bitcoins like crazy? Huh, I wouldn't really believe those predictions until something really happens right before my eyes. It's okay to be a bull if one knows what they are really talking about and their claims are backed by sensible facts, not just some random gibberish and predictions without any basis.

The way bitcoin move sometime, I do think that it is possible for bitcoin to hit $30,000 without any visible corrections. However, we should also expect the opposite to happen as it can also fall from the speculated $30,000 to $1000 without any visible raly. Currently, we have seen bitcoin pushing harder with any strong resistant and if that continues then we should expect bitcoin to hit $30,000 a few weeks from now.

It can happen. But the chances are very little. If people put billions of dollars on Bitcoin all at once. Sure, it will  happen. Any market experiences market corrections. It's very rare to see that kind of pump especially for Bitcoin that hardly to even reach 15k. That leap of price is shady and more likely to be a pump and dump scheme. The price will go up 1k then correction. There's nothing wrong with correction. It's very normal.

Just another hilarious speculation. It can reach 30k in the future but doing it without correction is ridiculous. Once a new ATH is reach, always expect a dump will happen.Long time investors will cash out their profit. That will trigger a long correction.

When we reach 20k, it took one long year of correction and bear market. Imagine pumping it straight to 30 without any correction along the way, how long will be the bear market that will follow it in order to correct it? That would be frustrating.

It is not possible that Bitcoin can go up to $ 30,000 without correction. If you analyze the bitcoin market, you will see that after reaching 13k  Bitcoin growth become little slow. I think that after reaching an all-time high bitcoin price may be little decrease. So I do not think that Bitcoin can go up to $ 30,000 without correction.

everything is possible, bitcoin is basically unpredictable, the slowing down of market growth doesn't necessarily it just stuck there, it is just the market to decide whether the price could go up further or not, even when we first reached 10k the growth is slowing down aswell.

Everything can surely happen on the crypto market, but the probability that we will see the correction before the Moonrise of BTC is too high. I guess, BTC can fall to 9 thousand and under, and then, the bull run will start.

As far i know corrections price will always be happend even only for small movement and it's normal in the bitcoin price movement and i was wondering from where did he get the source when he says bitcoin will be no corrections and could be good if someone can provide good analysis regarding his opinion because for me it was non sense talking about it

I stopped believing such statements. There's nothing behind them, it's just a guess. Yes, I would like that to happen and bitcoin rose to 30,000 as soon as possible. But it is possible it will be a difficult and long way, I do not want to be reassured

Which is what has been occurring all these years. This person didn't see what happened after bitcoin reached 19k in dec 2017, a whole year going down to 3k..

Its now at 13k again today, but that i still think was too early too fast.

Every-time there is a bull run, there come flowing the outrageous bull claims. And when it goes bear, the outrageous bear claim come as well. Like most in the market, they all cling to the lead, but can't lead a thing themselves.

Everything is possible, but it's just another person trying to hit the price of BTC in future
If you read news about crypto, every single day a lot of people says the price of BTC will be ....

In the end, only a couple will be right but it's just lucky

we may not be sure about a lot of things when it comes to bitcoin and its future but we all know one thing with absolute confidence and that is the fact that even in bitcoin world a rise without a correction of this size is impossible.
bitcoin market may have traces of manipulation i it still, but it is a very healthy market and in a healthy market we always see corrections during rises. corrections that have to happen and they happen along the  way to the top. you can look at 2017 rise from $1000 to $20000 that was filled with at least 50 different corrections.

I think that any analyst can be compared with a fortune teller on the market. It's not a serious thing. It is better not to hammer such nonsense the head, and to adhere to one strategy. You can just invest 5% of your income in bitcoin every month and be in profit at a distance. Simple math.

Reaching 30.000$ is almost 200% from current price.

If you check the charts with how price behave in the past, you'll see that it's very less probable to have a 200% increase without any significant correction. 

Making open-ended predictions like this, seems to be the latest trend. There is a difference between saying "Bitcoin can go up to $ 30,000" and "Bitcoin will go up to $ 30,000 in the next month." ...So, when they use the first statement and it does go to $30 000 in 10 years, then they can say that their statement was accurate, but when they miss the $30 000 in the next month, then people will hold them accountable for their false predictions.  ;)  

So these guys are playing with words and even if John McAfee put his genitalia on the line with his predictions, everyone knows he will not go through with it.  ::)

in bitcoin market everyone is an expert these days. all they have to do is to look at the current ongoing trend and then make a prediction in the same direction and then look like an "expert" in their own mind. the worst part is the news sites that keep reporting all these people just because they are desperate for articles to draw some traffic to their useless websites and earn some money that way. each day I see a bunch of new names pop up in the news that have become experts overnight and are now releasing speculation statements! for example in this case this guy doesn't even know what "correction" means and yet he is guessing the price!

Let the man talk and waste his time there since the only thing I believe in is the price chart. There are a lot of people that says, "bitcoin will go up!", "bitcoin will be having a price of xx,xxx this year", instead of taking those words seriously just look at the price charts. There are a lot of patterns you can look at there and just base your investments there.

It can happen or it cannot ;). One word with what he said. WHATEVER!!!!!!

I don't care with what he said and to be honest, if that can happen it will be more risky for the investors to buy. I think many knows already that in any market, it always need a correction. It doesn't need to go up and up and up. A correction after a huge spike must happen and that happened to Bitcoin weeks ago and happened again right now.

Price correction is always a part of cryptocurrency and I believe it is unavoidable even in a bullrun that being infused with multi billion funds. Correction is considered healthy by some market analysts because it will refresh the price and prevent it to go into bubble. Article like that might only want to increase its readers by making a controversial topics because they think it is more profitable.

No.I don't think so 30K is far far more target.We can see the these zig-zag up and down patterns for little bit long time.Bitcoin must create a good support line between 15K-18K.If that support line keeps long enough bitcoin will break the 20K and rise up to 24K. Then again fall will come. For that we need that support line.If that will not break just in few months we can see bitcoin rulz between 20-30K

I don't know how it's going to go straight to hitting $30k without big whales taking profit, except he is privy to some fund coming to the bitcoin market. I pretty doubt that there wouldn't be some sort of rest but in cryptocurrency, anything is possible. 2017 makes me believe anything.

he thought wrongly, because now it is proven that the price of Bitcoin is down (correction) so that what Mark Yusko said was wrong and in my opinion it is impossible for Bitcoin prices to increase very high without making correction, because every coin price including Bitcoin will definitely be corrected when the price increases very high, so I don't believe what Mark Yusko said if the price of Bitcoin will increase to $ 30,000 without correction.

Of course, who would believed that the price will continue to grow overtime without any market correction. Technically we won't see the price going on parabolic rise so him saying that is just complete non-sense.

So I don't know if people would ever believed on his predictions. Mark Yusko is just exaggerating maybe because he has a lot of investments on bitcoin so it makes sense for him to really come up with those outlandish guesses.

I don't think that's true. Before you beat your previous high in the price, bitcoin must pass the correction stage. Large investors will need to reset the extra people and continue the rally.

Why he didn't looking at market for 3 month later until today?, when he was smart brain know the correction will happen when price getting high properly and today his statement was wrong. Market need corection for getting new investor to investing bitcoin again.

yeah well as we can see now many believe in such nonsense and even say it and many others believe in it too for some reason. I think some people are incapable of looking at the charts or maybe they see it but are incapable of interpreting them which would explain a lot if that is the case since it would show how they see the same trend but still expect a different result.

What's Yusko got to say now about this current pullback? It's the third now to happen or is it the second in a month? But does it matter really if it's 2, 3 or 33? I get that it kind of does, but on a larger timeframe, it's pretty pointless to count the trips and stumbles till a new ATH.

It is not pointless to understand that corrections, retracements, pullbacks, however you want to call them, are important if sustainable new highs are to be achieved. Or are we all quite happy to have a non-stop ride to 30k? Because the fall from there can be very painful at that kind of inertia.

There's no strong link to achieve that. Bitcoin price is still shivering and it's kinda of fluctuating in price, which we really don't know what will be of it before this year end. $30,000 is not achievable this year maybe upper years

Who is this Mark Yusko and why do we have to discuss what he is saying? I mean, everyone can speak anything about Bitcoin. They can imagine a lot of things about Bitcoin. At the end of the day, their imagination is as good as ours. I myself am a great supporter of Bitcoin. I really love to see Bitcoin soaring very high. But if I am to be objective about it, it is impossible for Bitcoin to even reach its past ATH without going into a correction.

Zhao Dong, one of the biggest Bitcoin OTC traders in China and an influencer recently predicted that Bitcoin might reach $50,000 by 2021. He reiterated that now is the best time to invest in BTC and said that you might get a yield of 100 to 200% over 3 years if you invest now.

There is a good chance that Bitcoin can go down to $ 1.000 if it doesn't hold the current level. What do you think of this?

You already can see that his predictions was not true, Bitcoin has already corrected from 13k to 10k .  Not just once but two times, some people saying that this is extremely bearish trend and noting that BTC is going lower before starting to show some evidence of bullishness again.

$30000 without any correction? From current price 200% increase is needed for it to happen, Bitcoin is not an altcoin that could pull off 200% without any pull backs. It'll happen but not in one stretch!

First of all, there is no universally accepted definition for what constitutes a correction in the cryptocurrency market. Bitcoin prices are very volatile, and they can go easily up or down by 5% or more in a single day. So are we going to label such regular movements as correction? IMO, to qualify for a major correction, the bear phase should last for at least 3 months.

We are facing some correction right now  ;D
So this guy missed this one

unless you not consider this moment as a correction

I think its correcting the mistake of going up too quick in too short amount of time. But of course, someone can bring any other argument. Its the beauty of free markets and decentralized currencies: fluctuation, it means its free from government or institutional tyranny, another aspect that brings value.

Of course it can, and anyone who was there for the bull market of 2017 can attest to that.  But we all know what happened then, and if bitcoin shoots up to $30k without a correction the market is going to be in trouble.

By the way, who the hell is Mark Yusko?

Eh, kind of.  Bitcoin dropping from $13k to $9500 sort of qualifies as normal volatility, and I'd classify it more as a dip than a correction--but that's just semantics.

Not likely.  There would have to be some seriously negative sentiment about bitcoin for that to happen, and dropping to $1000 wouldn't be a correction, it'd be a full-blown crash.

At how much time span?
3 years or 10 years.

Well I did bet that it will go 20k this year again but never that number.
It is way too much. 20k though had been reached already so there is a larger possibility for it to happen again.

Still, we aint sure about anything specially when it is bitcoin we are talking about.

My response for that is maybe i will believe it. This is speculation thread, as long it give positive news for bitcoin i will believe and put it as something that make me optimist with bitcoin price especially will make me more confident to hold it.

It can, but it wont. A rise like that would lead to a big crash.

In my book, his scenario has already been proven wrong. If the 35% drop we just saw isn't a correction, then what is? If you look back at 2016 and 2017, this fits squarely with many past corrections.

I'm really glad he was wrong. If we went straight to $30K without the wave slowing down and sub-dividing like it is now, we'd probably have a mega-crash shortly after and abruptly end the bull market. If we keep correcting like this along the way, we can set our sights much higher. Six figures at least.