David Gokhshtein: Bitcoin Price Will Reach $80K

[STT]

1981 was the tail end of a period of large inflation in the dollar and it relates to now probably quite accurately, however we have more to come and there is continuing trend of dollar devaluation and probably instability.

Its questionable if crypto succeeds, thrives or dies in such troubling times, if they get worse it does cause failure no doubt.   There is a certain loss to inflation from the failure in efficency and that represents something also of an opportunity for new monetary standards but it can also just mean a simple change from west to east or various other alternatives to FIAT debt such as commodity or trade based currencies.  Crypto doesnt have to benefit and not sure speculation alone raises us to 80k, not this year so soon imo.

It turned out that the key consumer price index jumped 0.9 percent compared to June, reaching 5.4 percent, which was a record increase and was last seen only in 1981.
The decline in the price of Bitcoin indicates that this cryptocurrency, in which many corporate investors have invested, is often seen by them as a risky asset.

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[kotajikikox]

PAC Protocol CEO David Gokhstein shared his views on the latest bitcoin status on Twitter.
In particular, Gokhstein called the current market reversal "super necessary" to keep up the price of the flagship cryptocurrency, Bitcoin. According to him, the next step in the price of bitcoin will probably be $ 80,000.

But according to the link there is no specification of time frame for this 80k Price , meaning this can happen this quarter, this year or in the following years things that we surely does.
because from 20k from 4 years ago it breaks 64k then what more for the next 4 years? maybe bitcoin will reach 200-300k?
But if this prediction is for 2021 alone then I might say unless Bitcoin made a comeback this 3rd quarter? if not then maybe the growth will be expected in the next 3-4 years again.

[jaberwock]

PAC Protocol CEO David Gokhstein shared his views on the latest bitcoin status on Twitter.
In particular, Gokhstein called the current market reversal "super necessary" to keep up the price of the flagship cryptocurrency, Bitcoin. According to him, the next step in the price of bitcoin will probably be $ 80,000.

So we are only 50k more before reaching that goal? wish is will be that easy to achieve but i doubt that at any point 80k will happen this soon.

Bitcoin must break 40k first and stay a while , then climb to 50k then 60k , after that will break the recent ATH of 64k before finally hitting  70,000 Usd value.

I am not going to say it Is going to be easy to hit those numbers but I have to say it is not impossible neither. Remember bitcoin took nearly 12 years to hit 64k, but it also took about 3 months to reach from 30k to 64k as well, so it wasn't really that hard to reach those levels, it is actually quite easy to reach those levels bitcoin is in a bull run.

So, this means that we may not end up hitting 64k again for a year or two if we do not have that kind of bull run, or we could hit that in under 3 months if we have a bull run, the point here is that same numbers and same increase could happen either in 3 years or in 3 months is a big thing about bitcoin and how it is volatile while being stable otherwise, it Is not always volatile, it is only volatile at certain times and it Is probably not volatile at all during other times. I don't know which one we will have now.

[Slow death]

It's funny that when the price was going down a lot, all analysts and famous people kept saying that the price would go down a lot, they were all peximists, and now that the price is going up a lot, everyone started to appear again on the news channels and on social networks to say that the price will go up a lot, it seems to me that we will always see this same cycle:

price drops = everyone makes very negative forecasts

price increases a little = everyone shows up to make very high and exaggerated price predictions

and the cycle will continue for many, many years

[revilo]

It's funny that when the price was going down a lot, all analysts and famous people kept saying that the price would go down a lot, they were all peximists, and now that the price is going up a lot, everyone started to appear again on the news channels and on social networks to say that the price will go up a lot, it seems to me that we will always see this same cycle:

price drops = everyone makes very negative forecasts

price increases a little = everyone shows up to make very high and exaggerated price predictions

and the cycle will continue for many, many years

It feels like it has been that way forever. The best choice you have is to mostly listen to yourself. I think in crypto it is even more about yourself than in other markets, for instance like in real estate. Real estate is so nontransparent and complex in a certain sense that getting an expert opinion can't hurt. When you grow up with crypto and you put some effort into it you most likely have sufficient expertise to really rely fully on your own judgment and the information you can gather on the internet.

[suzanne5223]

The only advice I will give you about this is to be careful because these people (crypto CEOs/influentials) sometimes make prediction just to encourage the investors and every prediction that was done using TA/FA are not always accurate.
Dyor

I agree this is an open market although we have whales controlling it

The whales are no longer the market controllers but they are the manipulator while the institutional investors are the current controller. Having said that, according to the research did by a market trend examinator Willy Woo the major buyer/accumulator in the market are ordinary people who have at least 0.1BTC to 5BTC.

we are left to decide how and where to invest and who we listen to, some of these influencers are just leading you nowhere, you have the market, the fundamentals, and the news within your reach, analyze all of this and you can come out when and where to invest your hard-earned money, but of course only invest what you can afford to lose.

This will never happen because 95% of all crypto investors are more into profit than the technology not to talk about doing research.

How do you know what you are saying about whales? I think the whales will forever be mostly the exchanges. I have no clue, but I am quite sure that the five biggest exchanges control the vast majority of BTC by now. Just look at the volume and how many BTC they cash in on a weekly basis. Multiply that by 52 and you know what they could be sitting on. Low operating costs, almost every trade sheer profit. If they stick their heads together, you have a real round table of big fat whales.

How do I know what I said about the whales? Although, I hear through a source that know/tell the what the whales are doing, the market itself tells the story to be truth and the news about institutional investors also prove it.

That don't mean the whales don't play their roles as the whales but institutional investors are the major market drive .

[rahmatrf331]

It's funny that when the price was going down a lot, all analysts and famous people kept saying that the price would go down a lot, they were all peximists, and now that the price is going up a lot, everyone started to appear again on the news channels and on social networks to say that the price will go up a lot, it seems to me that we will always see this same cycle:

price drops = everyone makes very negative forecasts

price increases a little = everyone shows up to make very high and exaggerated price predictions

and the cycle will continue for many, many years

It feels like it has been that way forever. The best choice you have is to mostly listen to yourself. I think in crypto it is even more about yourself than in other markets, for instance like in real estate. Real estate is so nontransparent and complex in a certain sense that getting an expert opinion can't hurt. When you grow up with crypto and you put some effort into it you most likely have sufficient expertise to really rely fully on your own judgment and the information you can gather on the internet.

The market is nothing more like a mountain, when it goes up it goes up, when it goes down it has to go down.

When the wheels go down you have to prepare the brakes so that they don't burst and when you go up you have to put up barriers so they don't fall into the abyss.
David Gokhshtein says Bitcoin Price Will Reach $80K, maybe he has seen some high mountains and needs to prepare some fuel before flying.

[justdimin]

It's funny that when the price was going down a lot, all analysts and famous people kept saying that the price would go down a lot, they were all peximists, and now that the price is going up a lot, everyone started to appear again on the news channels and on social networks to say that the price will go up a lot, it seems to me that we will always see this same cycle:

price drops = everyone makes very negative forecasts

price increases a little = everyone shows up to make very high and exaggerated price predictions

and the cycle will continue for many, many years

That is how it happens, there is manipulation in the market which means when the price is about to go up, they are trying to convince you to sell your coins so that they can be the one who profits from going up. That is just how it is for a long time.

I have been checking the markets and what people say for years and I can easily say that it has been like this for a very long time, not forever but for a long time, it started around after 2017 peak, whenever too many people start to say price will keep going down, I realize that it will go up, that is just too obvious now. We have increased a whole 10k in the past week, if you ever said it will go down during 28-29k price period, then whoever said it will go down should have 0% right to ever make a prediction again, and just watch and you will see that they will keep on making some more predictions that will turn out to be wrong.

[Koro-Sensei]

It's funny that when the price was going down a lot, all analysts and famous people kept saying that the price would go down a lot, they were all peximists, and now that the price is going up a lot, everyone started to appear again on the news channels and on social networks to say that the price will go up a lot, it seems to me that we will always see this same cycle:

price drops = everyone makes very negative forecasts

price increases a little = everyone shows up to make very high and exaggerated price predictions

and the cycle will continue for many, many years

I somehow disagree. Even though price of BTC were going down, many speculators and analysts predicts that it was just a correction and probably be returning in its ATH again. Price manipulation is really a thing but for those who truly hard core bitcoiners these aren't big deal. These are just a mere speculation and spread FUD through entire social media just to amplifies the current situation and earn more from it.