TenX Co-Founder Stands Behind $60,000 Bitcoin Price Prediction

[pooya87]

we are talking about going past that ATH and setting a new one which is 3 times bigger than the previous one! one useless ETF with its hype can not do that.

Don't underestimate the power of FOMO. When Bitcoin will start rising, people may freak out again. Remember Novermber-December 2017?
Of course, if doesn't have to be a bubble, but 60k this year clearly means that it's a bubble what he predicts.

maybe, it is hard to tell with bitcoin sometimes.
but my logic is that the FOMO buy of end of 2017 was huge (2x rise in ~1 month) but it had certain characteristics that made it like that.
1. bitcoin was already on the rise in a strong bull market and a lot of money was coming in.
2. there was a big mainstream adoption hype thanks to Bitcoin Futures by CME and NASDAQ,...
3. (which i believe is more important) we were in uncharted waters. compared to now, we have the resistance at $10k, then we have all those who bought all the way from ATH to current price who may want to panic sell their coins. then we have the previous ATH which will be another big resistance. all the profit taking and FUD that will come then and people who sell won't allow the rise to be that fast. yes if price reaches $30k-$40k then it can easily go to $60k in a month but up to that point will take a long time.

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[boyptc]

I don't see how we're going to end 2018 higher than we did in 2017.

No idea but ETF might be the answer.

first of all what does this new ETF have that the previous ones like the Winklewoss ETF didn't? and why should they accept this while they continuously denied the previous ones?!
second, ETF approval will be a big hype and lead to a big rise but we are not talking about a rise back to $10k or rise to the previous ATH even. we are talking about going past that ATH and setting a new one which is 3 times bigger than the previous one! one useless ETF with its hype can not do that.

Yep the first tries last year were all a failure but they keep on trying it again, the same hype has been going all over again like last year but it's worth if it gets approved.

I don't have full hope with it but let's all say what if it gets approved? and this.

Don't underestimate the power of FOMO. When Bitcoin will start rising, people may freak out again. Remember Novermber-December 2017?
Of course, if doesn't have to be a bubble, but 60k this year clearly means that it's a bubble what he predicts.

[adam1230]

There are many more investos and developers are waiting bitcoin price over 20k for this year.
Bt this is just a hope and will never achieve until regulators give their decision.
Lets wait for agust i hope it will be good.

[LeGaulois]

Who gives a shit about outrageous predictions?  If you recall the huge bull market in precious metals that ended in 2011, there were "experts" predicting $10,000 silver and $500,000 gold, and every increment up to those insane values.  People were predicting the Dow would soon be at 36,000 back in 2000.  And on and on.  

My guess is that individuals who make these calls have a vested interest in being bullish, i.e., they have some of whatever it is they're pumping.  That kind of stuff is commonplace in the Speculation section, where people who own bitcoin are always predicting it's going to the moon, wherever that is.

Don't listen to this hype, because that's all it is.  I can guarantee you the dude in the OP who's predicting bitcoin is going to $60,000 didn't predict we'd fall from $20,000 to where we're at now.

But he predicted this fall during the high back in December, which might make his statement deserving of more attention. In any case, his prediction is mentioned in the article which I highlighted.

Back in December and even before, it was not difficult to predict the price will crash. Most people expected it. It's just that we didn't think it would happen so fast.
Predictions from such people need to be considered all together but not individually in my opinion. And still, it need to be considered with a grain of salt

[1Referee]

Lets wait for agust i hope it will be good.

Don't hope and don't focus too much on the price; everyone hoping for a recovery has gone through a bad time this year, and that could have easily been prevented.

What's the point of hoping for whatever event to lift the price up? It's a never ending cycle because after the ETF approval (in case it gets approved), we'll face another bear market where the price won't be going up for long, and then you will yet again wait for an event to lift the price up. It's a pretty empty and boring way of participating in this industry.

Instead, try using Bitcoin as currency for once, and explore what merchants accept it to see if you can ditch fiat in that specific case.

[bbc.reporter]

@LeGaulois. That is easy to say today, but I reckon it was difficult to accept for many people at that time. When I posted some news articles on the coming bear market during January, many responded so negatively to the articles and they were telling me to stop spreading doomsday stories.

Also, there is the same negative reaction when I post bullish news articles today hehehe.

[pooya87]

@LeGaulois. That is easy to say today, but I reckon it was difficult to accept for many people at that time. When I posted some news articles on the coming bear market during January, many responded so negatively to the articles and they were telling me to stop spreading doomsday stories.

Also, there is the same negative reaction when I post bullish news articles today hehehe.

well to be fair you were posting "doomsday stories" back then, at least most of the times.
an example: bitcoin should be worth $20
talking about price dropping to $900

so i'd say the reaction you received was perfectly justified.

and today's news that you call bullish is just as bad in my opinion. they are all exaggerated

[NereuFajardo]

This is more than impossible, i do not understand why there are so many people against this. It is more than obvious that bitcoin can easily touch those numbers, but there are still too many bad news and thigns affecting the price sentiment

[BitHodler]

but there are still too many bad news and thigns affecting the price sentiment

The sentiment can change in an instant in crypto. If a whale decides to buy the price up to the $7000 mark, 99% of the market will turn into a bull while a few seconds before that they were extremely bearish.

Regardless of how unlikely something is, there technically still is a possibility for it to happen, and as long as enough people believe in it, we can see the market moon beyond what we consider unrealistic right now.

In other words, expect the unexpected!

[bbc.reporter]

@LeGaulois. That is easy to say today, but I reckon it was difficult to accept for many people at that time. When I posted some news articles on the coming bear market during January, many responded so negatively to the articles and they were telling me to stop spreading doomsday stories.

Also, there is the same negative reaction when I post bullish news articles today hehehe.

well to be fair you were posting "doomsday stories" back then, at least most of the times.
an example: bitcoin should be worth $20
talking about price dropping to $900

so i'd say the reaction you received was perfectly justified.

and today's news that you call bullish is just as bad in my opinion. they are all exaggerated

The titles are exaggerated, but those are not mine. I copied and pasted them because they were the titles of the news articles. But if you read my own reactions on the articles, they were not spreading doomsday stories.

Also, the other reactions from the bearish articles and the bullish articles are the same in the denial that the bull or bear market is over hehehe.

[fabiorem]

Actually it was pretty easy to predict the 5000-6000 USD price bottom,there were many factors pushing the price down,but what will push the price up to a 60,000 USD ATH?

Read the news.

[pooya87]

@LeGaulois. That is easy to say today, but I reckon it was difficult to accept for many people at that time. When I posted some news articles on the coming bear market during January, many responded so negatively to the articles and they were telling me to stop spreading doomsday stories.

Also, there is the same negative reaction when I post bullish news articles today hehehe.

well to be fair you were posting "doomsday stories" back then, at least most of the times.
an example: bitcoin should be worth $20
talking about price dropping to $900

so i'd say the reaction you received was perfectly justified.

and today's news that you call bullish is just as bad in my opinion. they are all exaggerated

The titles are exaggerated, but those are not mine. I copied and pasted them because they were the titles of the news articles. But if you read my own reactions on the articles, they were not spreading doomsday stories.

Also, the other reactions from the bearish articles and the bullish articles are the same in the denial that the bull or bear market is over hehehe.

duh! i understand they are not yours, that is obvious. but you were still posting them and the "reactions" were to the article first and how absurd they were and then to you for paying attention to a low quality doomsday article like that and posting it here

[bbc.reporter]

@pooya87. Agreed. But think of what would the reactions be if I posted the very bullish articles that were as crazy during December, or after the bull market on January or February. I reckon everyone would be clamoring for more exaggerated bullish news hehehe.

[fabiorem]

there are still too many bad news and thigns affecting the price sentiment

Can you point some of these bad news? Im having some difficulty in finding them.

Unless you consider Schnorr signatures and ETFs bad news.

[magneto]

To me, there is really no point in following mainstream media regarding speculation anymore. There are always going to be individuals that are trying to make outrageous predictions that will very obviously not come true by any means.

If we see over $10,000 by the end of August, we can see the $20,000, then the press, the media is going to come in, and we can still see the $60,000 this year.

This part just made absolutely no sense.

Notice that most predictions that these people make have absolutely no basis whatsoever. I really am starting to think that these predictions are solely for the purpose of sensationalist headlines, self promotion and nothing else. With the current bearish sentiment, and the fact that there is virtually 0 momentum upwards, there is virtually no chance that we'll see an all time high this year.

[Jamie Oliver]

I also think that if the price of BTC can reach 10,000 usd at the end of August, it will have a good promotion effect on the price increase after BTC.

[bbc.reporter]

To me, there is really no point in following mainstream media regarding speculation anymore. There are always going to be individuals that are trying to make outrageous predictions that will very obviously not come true by any means.

If we see over $10,000 by the end of August, we can see the $20,000, then the press, the media is going to come in, and we can still see the $60,000 this year.

]This part just made absolutely no sense.

Notice that most predictions that these people make have absolutely no basis whatsoever. I really am starting to think that these predictions are solely for the purpose of sensationalist headlines, self promotion and nothing else. With the current bearish sentiment, and the fact that there is virtually 0 momentum upwards, there is virtually no chance that we'll see an all time high this year.

Why? Is it impossible for bitcoin to see over $10,000 by the end of August for you, or is it possible that he saw something that we did not see?

I reckon we might be in another situation of denial again, but on the opposite side hehehe.