Bitcoin Forum

Bitcoin price may hit 27k all time high by summer predicts Tom Lee (https://cointelegraph.com/news/bitcoin-price-may-hit-27k-all-time-high-by-summer-predicts-tom-lee)

---

If everyone remembers, last year he made a price forecast that was nowhere near certain. in 2018 he also made a price prediction that went wrong. The question is:

- how will it be this time, he will right or not?

In the past we never saw the price skyrocketing right after the halvening like Tom Lee suggests here, it usually was taking quite some time, like a year or a year and a half. Even if this time it will be faster, it still unlikely to be that fast - maybe the market will be growing that fast by the end of this year, no in the middle of it.

His statement is all about TA, which I don't believe in so what he said amounts to a simple guess to me.  I know he's one of those "bitcoin celebrities" and he's always making predictions, but his guess is as good as anyone else's--whether you're analyzing charts or not.

If bitcoin were to hit $27k by this summer, it could be in danger of a serious correction and possibly a crash that it would take a long time to recover from.  Every time I see predictions like this, I think of 2017 and how euphoric everyone was about bitcoin (and altcoins, too), and then December rolled around and everything kept falling right through 2018.  And why was that?  It was because there was so much buying, so much hype, and prices went up way too far, too fast. 

Bitcoin at $27k would represent a 2.84x rise from where it is now, and to get that level of growth in a matter of a few months is frightening to me.

I dont know why people do really rush on reaching those prices in a short period of time.Same as yours where i do much prefer on having a slow and gradual pace of movement rather than
rushing on breaking ATH's on short time because we know that it would really have that corresponding correction or hard dump later on when people tend to mass sell for profits.
We would surely see that 2018 correction once again.Analysis like this isnt really special and as mentioned even a typical man will make his own.The difference here is that
these personalities are famous thats why each sentiments would be given will really get some attention.

I also did not see a price skyrocket after a single Tom Lee's prediction. In fact this was the other way round. In 2018 every time Tom made a prediction the price went down.

Tom is a permabull but he's a permabull of the worst kind because he doesn't learn from his mistakes. Like when you fight someone and get beaten every time you either learn to fight or learn to avoid confrontation. Tom doesn't learn to do good TA but he also doesn't know how to keep his mouth shut.

Incorrect, last year he was essentially correct......
https://bitcoinist.com/tom-lee-bitcoin-fair-value-is-14000-right-now/

Personally I don't see $27,000 in 2020. I do believe in 2021 it will reach that price however.

They rush because they all want rush profits as well they wanted the price to go as high as possible this summer probably because they have projects in line that season 😂. Kidding aside, bitcoin may reach $27,000 but surely it will not stay long and it is prone to big correction which may result to a big dump as well. Also the price is very unlikely to reach $27,000 in just a few months, just saying.

I view it as blurry still at this moment given that the price is now on a slight downtrend and is having a hard time to make a comeback at the $10,000 mark. There are only few months away before summer and I think such market price cannot be achieved before such season take place and if there will be no positive changes to occur next month.
I still don't get why many people are believing in the predictions of personalities with regards to the market value of Bitcoin, that is, in the first place, has volatility in nature, and with that being said, it is hard to make speculations with certainty. Not being a pessimist but jumping into conclusions could yield to disappointments if  expectations will not be met.

News to me that the ATH was 27k, I thought like 19 or 20k on various exchanges.   Is that the particular price on a certain site I guess.   I doubt we get such a large price increase of 400 to 500% in just six months, I'm not sure thats the best for Bitcoin long term stability.
   Its possible of course but I look not to Bitcoin trends so much as the weight pushing people out of FIAT, such as a large depreciation in a major currency like dollar or China devaluing.   

We cant still yet we cant point out if they do have bitcoin into their stashes and trying to be permabull to make up some hype on which they would benefit them in case the market reacts to such prediction.

The thing here is that they should at least make it realistic yet breaking ath wont really be that simple and we would need some another wave of global recognition into a certain extent which is the same on what
happened on 2017.

They can predict all they want and even myself can tell that it might shoot up on 100k at least.  8)

These price predictions from these people are like;

"Try and try until they happen and become accurate."

Many times he failed with his predictions although he is a known bullish guy but nothing ever happen and become true. Now, the price he gave is more likely than hundreds of thousands.

I think I would agree with that, prediction is quite reasonable though, but seriously though at first I was a bit confuse with the time summer as I am not living in the US, to clear my mind, I made some research and found this one.

https://www.metoffice.gov.uk/weather/learn-about/weather/seasons/summer/when-does-summer-start

is my interpretation correct?

Bitcoin has repeatedly proved that its price movements do not correspond to any technical forecasts and graphs. Quite often, his movements occur even contrary to expectations and previous behavior. After all, the number of market participants is increasing. Tom Lee's forecasts have always been too optimistic and rarely come true, but they are interesting to read. The rise in the price of bitcoin this year to $ 27,000 is unlikely. Good growth should be and it would be nice if its price at least rose again to $ 20,000.

I don't think it may hit all time high but I hope it will reach atleast 20k by the end of the year, halving is a big hope for most them and I wish it should go on a positive mode.

These days predictions are scary ;) and there are traders who have been accurate as well, a lot of speculation comes only if the market is rocking, else most of the analyst won't turn up when the market is bearish.

Well I don't believe in Tom Lee prediction anymore because many of his prediction has never see the light of the day and I do wonder why some still take this Man prediction serious.

Exactly, instant price rise would represent kind of exception. But I don't think that is going to happen any way, at least I don't believe that price will jump so high all the way to 27000$.
If the price rise happens to my opinion it will not come instant and it will not be so high. Probaby more moderate and rather on short term than long term.

Don't know why my mind isn't allow to believe on such as unrealistic prediction. May be some of you will say it's possible, I know as well everything is possible on crypto-currency. But you will have to realize about current trend and predict up to where it can go. From last year till now we have seen lots of such as predictions and eventually they failed. Touching $27K even end of this year look like a dream to me. Main reason is, I can't see much new big investors on bitcoin lately. The only chance for cross last ATH due to Halving. But I think we will not see much difference during Halving what we are expecting really.

even a broken clock is right twice a day!

Tom Lee is never predicting bitcoin price, he is always throwing big numbers around to advertise himself and his business. at least this time since we are in a bull market and there is a halving coming he has a better chance of being right. although i don't think we can see any prices above previous ATH in such a short time but i think it is possible by the end of the year and definitely we will see much bigger rises in first half of 2020.

I don't really think that it could go that high in just a short time.
The price wouldn't just simply skyrocket into those price it would take some time before it gets into $27K.
For me this would be impossible to see for this year just looking at the past few months we could see that the price is struggling to rise up everytime .

We could not really say who would be right and wrong about their predictions because, it would only cause a loophole in which we are also predicting who will be in the right side. What we could only do is give our best effort to predict what would happen in the future. Predictions or opinions from other people are just guide for us to either stop us from investing or make us more certain about our decisions but, the decision that would be made must only come from our own and not from others.