Bitcoin Forum

Dave the Wave the analyst who this article author claims correctly predicted last years bitcoin crash, has made a wild speculation again this time as he claims that Bitcoin prices will hit $400k which is an absurd prediction in my personal opinion. Further the author of this article wants us to believe that just because Dave got it right once he’ll get it right again, and I do hope that newbies don’t fall for such gimmicks and avoid making investment decisions based on such analysts views.


Author is a newbie first he claims it’s a reliable prediction, and then goes on to questioning it :
Source:

https://www.cryptopolitan.com/btc-price-to-hit-400k-dave-the-wave/

If you came to me in 2016 and told me, when we were at $1k a bitcoin, that we were going to 20- would I have called you stupid? Probably.

If we continue on the last trajectory $300k is what I targeted us at I DO NOT THINK WE WILL HIT THAT but I made it an "optimistic target" and rubbed out my whiteboard...

Tbh I also think if we don't hit $150k in the next 30 months, bitcoin may be as good as dead for being a strategic investment choice... Which is good for me as it'll mean the price will become more stable and we can see more adoption.

(I really thought we were botooming out at 6k too)

$300-400k is what i have in mind, if bitcoin enters another bubble like 2013/2017. when extrapolating from the previous ATH, that's conservative based on the average of those two runs.

a lot of people assume every bubble will keep getting smaller in % terms. they might be surprised the next time around. don't be fooled by market cap---bitcoin's lack of circulating supply can do wonders for the price! that's what makes it so hard to to predict.

at the risk of sounding overly bullish, it's mostly not a question of if but when. will we go below $3k and stay in a bear market for another year or more? maybe so if the world economy keeps crashing.

This is especially true if we collide with a recession.

If anyone with spare funds starts putting $5 or 1-5% of their net worth into bitcoin then we're going to see something weird happen.

I saw an influencer complain that they had put everything into bitcoin and randomely brought it up (and to be honest they were a real random and looked to have very little technical knowledge - the dude had a iPhone 🤣).... We saw retail pull out 5 trillion dollars and most likely put it into accounts with bad interest rates (that could soon turn negative or already have).

Warren buffet also seemed to think bitcoin was a good long for 5 years in 2018 I think but long term didn't look like the best investment (and he's probably disappointed he can't put much in it with Berkshire since market cap here is low)...

$400 will be possible for bitcoins but when? Around the current pandemic scenarios I doubt it may not be even in 2021 (previously I was confident about having a new ATH by end of this year and another ten to 20 fold growth in 2021 but corona spoiled everything, it seems).

If there will be any curing and preventing vaccine against corona then we again need to do all new math.

@davthewave could turn again accurate as they expect $400 on next spike which may be in 2021 or later on. I am always having no doubt about the long term targets for bitcoins as my ten year speculation on bitcoin price levels would be twenty millions. The difficult one is what is going to happen in short term like what would be the bitcoin price by end of this April or May.

I think we’ll go above $100,000 & probably before 2022 but $400,000 is pushing it in this cycle. I mean fucking hell, I’d love to be wrong but I think $400,000 will be after the 2024 halving so you’re looking at in 2025 or something.

What we are experiencing at present is the growth that has taken place in around ten to twelve years of time. During those days very few believed that the price will reach high as we experienced during the previous bull trend. Likewise is the prediction by the experts. We can hit higher and higher, as the user community and access keeps widening.

Giving a target doesn't matter. But how much of that is a matter of reality. If someone said in 2013 that Bitcoin would go 20k in the future, would you believe it? But in reality it has. I'm very optimistic about bitcoin. I don't want to say anything about price prediction at this time. I want to see the previous ATH cross. Because if the ATH crosses, I think the real game will start.

It's in the realm of possibility.

Look at the last bull market, 2015-2017. Bitstamp hit the bottom at $152.40 and topped at $19,666. That's a 12,900% gain. If we use $3,850 as the bottom, a 12,900% gain = $496,650.

I've read some predictions that I agree with and those were basically saying that Bitcoin is an all or nothing asset and in the next 10 years it will go to a million dollars or almost 0.

If you compare the value of a typical payment platform or an international bank it can be many times more valuable than Bitcoin. If bitcoin relally becomes the digital gold that people want it to be it's going to become more valuable than some small countries and a million dollars per coin is not going to be out of reach.

On the other hand it can like many technologies become abandoned and forgotten. 400 thousand is not much really.

Good numbers that are great to see. I wonder how near we will achieve that number in the next couple of years. But at the moment, I am curious how much will be the bitcoin price after this halving in May.

That was close to reality.
2015-2017 has a 2yrs gap.

So if we consider that $3,850 (this year) therefore, we can expect that Bitcoin will reach $400k 2 years from now and that is 2022. That is totally amazing and I hope DAVE is right and I have to write this on my notebook for me to capture what will happen in the next two years.

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But we should also think about volatility that makes things work differently as we expect to happen in the future. Even though there is a possibility but I'm not really confident about it.

Same here.  I never would have even imagined bitcoin would touch $10k back in 2015-16 when it was less than $1k--but it did.  However, $400k is another story.  Having been so wrong in the past, I now wouldn't rule anything out but that level seems like it would take a long time to reach, especially when the health of the world economy is questionable (at best) because of the coronavirus outbreak.

Personally, I'm just happy bitcoin didn't sink more than it did in the past month and a half.  I doubt it's going to reach $10k this year, and if it ever does go to $400k it's going to be years--or at least, that's my best guess, which is probably as good as anyone else's.

$400k price itself is not a strange or impossible price to reach, predicting it is also not a terrible thing to warrant a "face palm"!
but starting the so called "prediction" with preceding the person saying it is some sort of expert is the absurd part. if you check all the newbies who make wrong predictions you can see a lot of them make similar claims to this dude that OP mentions, they first start claiming they have made perfect predictions in the past to try and fool the reader into thinking they are "experts" then continue by making some nonsense prediction for the future.
otherwise the real experts don't need to pretend anything, their history speaks for itself not to mention that they don't waste their time making public predictions in first place!

Bitcoin has a tendancy to have these bubbles simply due to the fact of short supply. If you were around in late 2017 you would of realized that many people wanted to buy bitcoin but couldn't because bitcoin ATMs and certain foreign exchanges simply ran out of bitcoins left to sell.

So what happens when there is huge demand and absolutely no supply, prices skyrocket. Eventually people who are holding BTC realise that they are "rich" so they send their coins from cold storage to an exchange and sell it, and then the price starts to go down.

Its possible for this to happen again. If we break $20K, we will slowly go to $25K but once $50K is broken, we can easily go to $100K from there since almost everybody sold and no more sellers.

Well, it isn't impossible. Though adopting an attitude of believing one guy after getting one prediction right might be the wrong one instead. There are talks of the recession coming in after the latest events/damages of the virus impact were finished. If traders/financers adopted to use BTC, believed it to be a safe asset then really, the amount that BTC would blow up would be more than what we can imagine. It may even exceed the said price of $400k. Not to mention that most of the current supply out there hasn't been moving that much, leading to the situation where the current supply that is being circulated in exchanges is actually much less than the released supply after a decade of its release.

Not impossible but that's too much prediction. It doesn't mean just because he got right about the bear market means that he can have it guess perfectly again.

This makes people greedier of such high claims. I'm ok with the lesser amount that we might see within the next few months or a year or two. With those realistic prices, that will make the adoption better but if it bubbles again, we will see.

You have a point there, it might be also that moment was a coincidence that he predicted perfectly with his price prediction. And now, he again claimed a prediction of Bitcoin price on his own. But if you really deeply think, the Bitcoin price is unpredictable.

We are now in a global economic crisis and probably we're already at recession stage but look at the price of Bitcoin it is showed us an improvement in the market. So I don't think it will drop again below $5k. However, it might be also he was right, but who knows. Let just see what will happen, if will predict again the third time, and I will believe that guy.

And how this "Dave the Wave" predicted the last year Bitcoin price crash?Any good detailed analysis posted by this "analyst" somewhere online?I'm sure that he was just guessing and he got right by almost pure luck.
A 400K USD Bitcoin price means trillions of dollars invested in the cryptocurrency markets.It also means mass BTC adoption across all major and middle-sized companies,banks and investment funds.
I simply can't see this happening.

Somehow too you seem to be pessimistic at the end too to wait for ATH before believing or expecting bitcoin to get as high as that  ;D
To say the fact , from your earlier sentence, nobody really believed bitcoin to hit 20k but it did in 2017. Now it is still possible to have a major run above and higher than the already hit ATH and who knows the next price high.

It is possible specially that physical money are worthless right now due to crisis that the world is facing. But I guess maybe soon enough where the world regulate crypto.

The good thing is, you will not go to jail by just predicting something.  :D

$400k is a far price to be compared now.
If it does happen then I might consider selling all out.
That is, if the value of $1 is still the same as now.

I could just live in another country and spend my life resting while my kids and grand kids is having a better life too.  ;D
But it might not. It is a dream. I woke up just now.

But are the predictions in the article for this year or in the future? Lol ;D

There have been many predictions like this before but nothing makes sense and it is beyond reason in my opinion, prices are currently low then they say $ 400k will happen I am impossible and might fool the beginners or might want to be the main topic so that many visitors to the article, that's not cool enough.

Whatever happens that prediction is wrong and bitcoin still hasn't reached 50k let alone this 400k maybe a lot of people will laugh. :D ;D

As I said. I personally believe that Bitcoin will hit big targets in the future. I have already prepared for this. Now just see which way the market is going. What I said about crossing Ath does not mean that I will take my position if Bitcoin cross Ath. Ath crossing is important because after that the real game will start, price discovery can give Bitcoin a huge bull market.

I get that the author would imagine bitcoin went up before and could still do that yet again however he is not a financial savvy person obviously, doesn't know the difference of 100% increase from 100 dollars to 200 dollars versus 100% increase from 10k to 20k, let alone an increase to 400k which would be financially impossible right now when there is not even that much money available for investing anywhere let alone using it for bitcoin.

Even if all of USA that received 1200 dollars for free would use that to buy bitcoins, that wouldn't be enough to put bitcoin over 400k, we are talking about THAT much money. However an increase is likely, not to 400k obviously but over 10k looks like a big possibility for this year, so I can share the sentiment at least.

One more exaggerated prediction, that is how this sounds to me.
Yes, the world has entered the nee global crisis and no one can't tell how long will it last and when will it end. In such circumstances many beleive that Bitcoin might get an extra value. That is possible and the price might go on the rise again however don't expect some huge jump over night. To reach 10000$ will be quite a challenge again.
Also, don't forget that the opposite scenario is possible too and the price might fall as well.

I dont know on whats up to their minds when it comes to those kind of predictions.If we do really just think carefully on what would be the basis then its just total nonsense to think for 400k price.We cant even hit nor break its previous ATH and we should be at least consider that thing first before going beyond border or prices.I cant even think of on how in the world would able to reach that unrealistic price in a short time or wont really able to reach at all.
If we do talk about 30-50k then i might agree or somewhat realistic but for 400k? 99% for it not to happen unless if the entire world
switched up to btc. LOL!

Author inconsistency?  :D
There is no prediction that is accurate  and I bet the author is also having the same problem.

He must be shocked at how far the predictor would want to reach the bitcoin price.
It could happen but not while there is trading that is happening.
They would easily withdraw from that number if it happens in a blink.
We will surely see a great dump after that. So yes, it could happen but it won't take long.

It could be by chance and he predicted it correctly. As for the unpredictability of bitcoin, yes it's always like that. There can be hundreds of predictions that may come to us base on what they think about the market status.

Honestly, it's just making me impressed with how bitcoin reacted to the global pandemic. It has plunged under $5000 and it was before WHO declared covid19 as a pandemic, CMIIW.

in a short amount of time? sure it is impossible. just like it was impossible to reach previous ATH $20k in short time when price was still trying to break the $600 resistance.
but is it really impossible? you know your comment reminds me of all the same comments that we saw back in 2016 from people saying $2k is realistic and anything higher than that needs the whole world to switch to bitcoin. now we can't even imagine price being $5900 let alone be $2000.

Well, nothing can really foresee on what would happen to future thats why speculation would either happen or not but come to think that $600- $2k or go to 20k ATH isnt really that far to happen if we do base up with value but come to think from $7k - $400k.. Then sorry to say that i dont really believing that much into this possibility.We do need global adoption with this one plus computing the entire capitalization.Do you
really think that it would have high chances?

This really an optimistic prediction and that because he is right at its prediction before, he can always be right. And this not the basis for he can predicted right for the incoming.
$400k is quite high for Bitcoin to reach even hypes will play again.  I shouldn't be fool into this nor I have see the market will go that far. If that he says we will reach $40k, maybe I was convinced. Even though I was optimistic about the market to grow but I have to think of some instances that being too much will never look good and unrealistic end.

I assume people who are making these kinds of predictions are not doing it because they believe it, but because they want to get attention at a big way and get their names out there. Think about it, if he came out and said "bitcoin will be 8k in the following months until end of summer" would you really see that as news worthy?

Do you really think he would get his own topic at bitcointalk which has nothing to do with where the article was written? Dude said 400k and thanks to that his name is everywhere now, which I assume what he was going for. Another possibility that he just wanted to say 400k so he could probably get a lot more people interested in bitcoin, when you say 8k not a lot of eyebrows are raised, but when you say 400k you make some people check what bitcoin is.

yes i do really think that it is a strong possibility that bitcoin price is going to reach $400k and not just that i still believe that much higher prices such as a million is a possibility. but i say mass adoption is needed for $1 million not something like $400k, for the later we already have enough adoption. right now about 4 or 5 big countries have adopted bitcoin as a legal currency and the adoption is growing there much faster than anywhere else.
the price doesn't reflect this now because of panic, manipulation and the world economy being on the brink of a disaster.

note that i'm not talking about any time-frames here. if i were to "predict" i would say $400k is an easy possibility as the next bubble target that could be reached by the end of 2020 or early 2021 then the realistic price after that bubble pops would be somewhere around $170k-$200k.
$1 mil could take another decade or more though.

Those articles are just trying to attract more viewers.
There is not any analysis that can show that the price is going to hit 400k. We are still struggling to hit the ATH and those guys say that they can show in the charts that the price is going to be up so much...

Crypto is future and will have much more value than its present value. Buy not sure that anything can be so expensive which just does not add much rationale to me. Anything every person has their own perspective and one should identify where they see the value of a coin and how is the future shaped for it. If it looks good one should stay invested and keep buying at lows.

I would make my own prediction for bitcoin price can hit $150k-$250k, but I cannot say when it will happen ;D

If we multiply by 20x by looking back to history, then yes, we will see $400k as the highest price. But that is not logical for me as we are not sure if the bitcoin price will increase 20x. Maybe that price will make sense for the next 5 years in the next halving ;D

Gosh!!! That's probably a big number for sure, let's give predictions for recent market rather than going for next decade. I agree BTC is a very powerful crypto asset and a long-term investment but keep in mind that it's not so easy for 400k, for me it's very very expensive and I don't think it will reach that price till next decade..

After all what happens in the world right now 400k sounds realistic to me. If you told me 40k 3 months ago I would say impossible.

I am fully invested in bitcoin but now have a bit of savings and honestly if I leave it as fiat it will be worthless soon.  This fake pandemic has some bigger reasons we dont understand yet.

Predicting such a high price for bitcoin is unrealistic and not likely to happen. The highest bid I will take in the game of guess about bitcoin price after halving will be $15K. Let's not exaggerate because economies are down and starting to pick up gradually. Bitcoin will never achieve this $400K unless new investors start investing in it as well.

Mostly predictions coming from unknown and known personalities are totally insane how come btc will reached $400k if btc cannot even go back to 15,000 price.

There is always a possibility especially that the market is very unpredictable but the chance for bitcoin price to reach 400k$ is very less especially if we will be talking like 1-3 years from  now. The market will increase and decrease anytime as this is how the market works from the start therefore increasing that much cannot be achieve easily.

That price can be achieve only if the demand will focus on bitcoin and other currencies will be left behind or the demand of crypto will be spread all over the globe like 80-90% of the countries are open to bitcoin usage which is very difficult to happen.

Even if he hit right on his first prediction I would like to see concrete proofs or events that can lead Bitcoin to reach a certain price, I believe in cause and effect, if there is a cause there is an effect brought by that cause, based on his next predictions those are all predictions and assumption, we can make a reliable prediction on how the price will get after we are done with our present situation.

Maybe we'll see in 2022 if his predicted price would come true because $400k is massive amount no matter who you ask in the cryptoworld. Though the price of BTC is very unpredictable and even the people in the past would not have expected that it would go this much as what the current price is. Well 2029 is very far and a lot of things would unfold so let's see if the prediction is a total nonsense or if it would happen. But I find it more useful if we talk about the prices more in a not-so-far into the future because talking about $400k in nine years today doesn't make any much of a sense in my opinion.

With that price level then it would already talk about full adoption.Come to think that we do just able to hit 20k mark and
talking about 400k price is really too far to consider in a short span of time and we cant still be sure if the demand would
really be there on upcoming years since nothing is assured in terms of future talks even we do see a potential towards crypto.
I dont even believe on 50k-100k price. How much more on 400k?

predictions like this that make FOMO bitcoin successful later, but I think not this year, I also believe the price of Bitcoin can reach $ 400,000 after halving of course, hopefully it can happen, and don't let you get stuck, because the whale game could be the price of Bitcoin DUMP first before rising to the moon  ;)

One way or another, it is big whales that will first of all affect the stability of the price of Bitcoin, so if we assume too active a rise in the price of Bitcoin in the near future, we would like to see more widespread use of cryptocurrency in everyday life, and not just the use of Bitcoin to make money thanks to it  volatility.  I believe that you really need to fix Bitcoin as a means of payment, so as not to expect a drop in prices again.

Pretend you are back to 2012, and someone introduced you to Bitcoin at $1.00 per coin, and that that someone told you it would hit $20,000 per coin someday.

Are you the person who could see that possbility? Or would it be "absurd" for you? Add that as your poll for the topic. 8)

I was "sort of" that person back in the day. I didn't get in during the one dollar era, I was here when it was about 120 dollars and so forth, that is why I was already quite late, when you consider "this 120 dollar thing will be 20k one day", it is certainly a lot bigger possibility compared to 1 dollar going to 20k dollar thing.

However even back that moment (and interestingly right now) not a lot of people believed that bitcoin could be 20k. I saw what it was, I saw the trajectory and I said it doesn't matter what happens to bitcoin right now, I still say that, it could become 1k tomorrow and nothing would change in my mind. As long as people love it the way they love, and as long as we have less and less of it, the price will eventually skyrocket.