[2019-02-17]Bitcoin will hit $740,000 despite crypto winter'says Chinese guru

[stomachgrowls]

Co-founder of crypto mining pool Poolin, Zhu Fa, took to social media to share his bullish statement that Bitcoin will surge up to 20,000% in the next bull run.

According to News.8BTC, the Chinese Bitcoin bull predicted that the world's number one cryptocurrency would surge to all-time-highs of roughly $740,000, during the next bull run.

Despite the ongoing bear market, the operator of the world’s fourth-largest mining pool said that the price of Bitcoin 'will be in the range of $74,000 to $740,000.'

However, Zhu Fa couldn't be specific in regards to a given time frame, except by saying 'next round of bull run'.



Source: https://www.chepicap.com/en/news/7476/-bitcoin-will-hit-740-000-despite-crypto-winter-says-chinese-crypto-guru.html?utm_campaign=cryptocontrol.io&utm_medium=cryptocontrol_web&utm_source=cryptocontrol.io

Too exaggerated prediction.It would even hard to tell surpassing previous ATH on next bull run.

[pixie85]

He's looking at log charts and it sure does look like it could go much higher because 2017 pushed the price 20 times higher than 2013. That would mean 400 thousand dollars at the next bull run. This man thinks it will go even higher which could be possible if the bull run turns into a worldwide FOMO hype.

[BLAST2MARS]

He's looking at log charts and it sure does look like it could go much higher because 2017 pushed the price 20 times higher than 2013. That would mean 400 thousand dollars at the next bull run. This man thinks it will go even higher which could be possible if the bull run turns into a worldwide FOMO hype.

The worldwide fomo hype is much harder because many people are aware of what happened after 2017. We can only rely on financial institutions now or worldwide adoption instead of hype of fomo. I bet the Chinese guy is just trying to make an "alternate reality" in his mind instead of accepting the truth to escape.

[btyco]

The bull run is going to be big but that number is too optimistic. Going over 100,000 is certainly doable but 7 times over will take another round of dumps and pumps

[NeuroticFish]

Too exaggerated prediction.It would even hard to tell surpassing previous ATH on next bull run.

It is exaggerated, but never say never. After 20k will be touched again, 74k is just one step away, really (you have to visualize an exponential graph).
Of course, going 10x more is way more difficult and I think that the upper limit is exaggerated... for the next market cycle, that is.

[Naida_BR]

That is certainly impossible. These people are only trying to create a hype and made an impression to the public in order to attract people's eyes.
I would not characterize him a crypto guru, with such statements. We all expect a bull run but this number is not rationale and they will have to reserve their statements as the year passes.

[magneto]

Co-founder of crypto mining pool Poolin, Zhu Fa, took to social media to share his bullish statement that Bitcoin will surge up to 20,000% in the next bull run.

According to News.8BTC, the Chinese Bitcoin bull predicted that the world's number one cryptocurrency would surge to all-time-highs of roughly $740,000, during the next bull run.

Despite the ongoing bear market, the operator of the world’s fourth-largest mining pool said that the price of Bitcoin 'will be in the range of $74,000 to $740,000.'

However, Zhu Fa couldn't be specific in regards to a given time frame, except by saying 'next round of bull run'.



Source: https://www.chepicap.com/en/news/7476/-bitcoin-will-hit-740-000-despite-crypto-winter-says-chinese-crypto-guru.html?utm_campaign=cryptocontrol.io&utm_medium=cryptocontrol_web&utm_source=cryptocontrol.io

Too exaggerated prediction.It would even hard to tell surpassing previous ATH on next bull run.

Exactly. I'd expect the next bull market to come somewhere around 2020-2021, due to the fact that there is likely to be a lot of hype surrounding the halving event.

However, there is absolutely nothing that suggests to me prices are going to go up that much higher than it was in the 2017 bull market. It should be obvious that it's harder to make bigger percentage gains when markets have already matured and increased in total market cap, as there needs to be more money in the market to get prices up.

As you say, given the fact that 2017's bull market was a huge event, it could be entirely possible that we don't even hit an all time high on this bull market. But more importantly though, I wouldn't ever listen to someone speculate on something without something to back it up, or even a specific timeframe.

[stomachgrowls]

Too exaggerated prediction.It would even hard to tell surpassing previous ATH on next bull run.

It is exaggerated, but never say never. After 20k will be touched again, 74k is just one step away, really (you have to visualize an exponential graph).
Of course, going 10x more is way more difficult and I think that the upper limit is exaggerated... for the next market cycle, that is.

Nothing is impossible but sometimes being too optimistic will really lead to exaggerated presumptions.

As you say, given the fact that 2017's bull market was a huge event, it could be entirely possible that we don't even hit an all time high on this bull market. But more importantly though, I wouldn't ever listen to someone speculate on something without something to back it up, or even a specific timeframe.

We can all speculate basing on what we saw and presume things on what might happen ahead.Just seeing on the movement of BTC after that bull run and then suddenly dump.The market is stabilizing for how many month.It do increase but on gradual basis. Hitting 800B marketcap is really hard to believe unless for those who cashed out on bull run will consider to look back.

[joniboini]

Does someone get paid for making such predictions? I'm seeing a lot of people or media make news about how high Bitcoin will be or how low it will be in the near future. One side is being too pessimistic, while the other seems to be overly optimistic. What do we get from this kind of news anyway? It doesn't change anything, I'm still rekt.

Anyway, I will predict that the next bull run, there will be two kinds of candles, green or red. Here, I'm pretty sure I'm right.

[Slow death]

Too exaggerated prediction.It would even hard to tell surpassing previous ATH on next bull run.

He was very clever not to have said the date for the realization of his prediction, and with this:

However, Zhu Fa couldn't be specific in regards to a given time frame, except by saying 'next round of bull run

we can not say that his prediction is exaggerated because he did not say in what year we will see bitcoin reach $740,000

Does someone get paid for making such predictions?

they gain fame, before this article I did not know about this Chinese guru "Zhu Fa". But with this prediction, people already know of his existence

[richardsNY]

It is exaggerated, but never say never. After 20k will be touched again, 74k is just one step away, really (you have to visualize an exponential graph).
Of course, going 10x more is way more difficult and I think that the upper limit is exaggerated... for the next market cycle, that is.

2013 high $1.2k > 2017 high $19.5k = +4 doublings.
2017 high $19.5k > 20XX high $78k = 2 doublings.

If we assume that every bull run from now on will be less extreme than the previous one, $78k would statistically be an easy target. Less extreme up swings will lead to less extreme down swings the more liquid and institutionalized this market becomes.

More paper coins will definitely damp the demand during the next bull run. $50k has been my target far before the price took a dive under its major support last year. Everything above is a sweet bonus.

[mindrust]

He's looking at log charts and it sure does look like it could go much higher because 2017 pushed the price 20 times higher than 2013. That would mean 400 thousand dollars at the next bull run. This man thinks it will go even higher which could be possible if the bull run turns into a worldwide FOMO hype.

You are forgetting something.

Just because it did 20x before doesn't mean it will do it gain. I mean it can do higher than 20x but that's very unlikely.

It is because every time we do these pump and dumps, the volatility curve gets more flattened.

That means we are lucky if we see $100k this time, let alone $400k.

Tbh $100k would make me more than happy.

[bittraffic]

I've read it somewhere here that bullrun will actually come the least you expect, so in case if that is true then the optimism and the speculations that it will hit $1M just as John Mcafee said might never really happen unless they themselves buy BTC to pump. Price is running up though which is good. $740K is going to be far far

[bitcoinisbest]

All this are unrealistic numbers as per me because it will surely crash even if it crosses 6 digit mark. Yes if some one says near 50k to 100k maximum quite possible in coming years but 740k for any rationale person will sound unrealistic.

[snipie]

All this are unrealistic numbers as per me because it will surely crash even if it crosses 6 digit mark. Yes if some one says near 50k to 100k maximum quite possible in coming years but 740k for any rationale person will sound unrealistic.

As you said I can believe bitcoin could rise in the future to 30k, 50k and maybe to 100k after ten years or more, but honestly 740k is too much overestimated prediction and the only thing I can imagine is that this guy is trying to attract attention to him and his service.