Here we are, elbow deep in FUD as January closed and February showed up with more of the same for its first two days. Hey everyone, the groundhog saw his shadow! That means six more weeks of dropping prices for Bitcoin. That’s the kind of Bitcoin price prediction we have to endure these days.
While groundhogs may be so-so at predicting whether or not winter will linger, they have no experience at cryptocurrency price prediction. I mean seriously, they are probably holding Dogecoin, or maybe NeuCoin which at least has a near relative for a mascot. It’s a squirrel in case you’re not familiar with the now defunct coin. If the groundhog is still holding NeuCoin, you know not to take any financial advice from him or her.
Some Crazy Document Leak
Seriously, today when I woke up I read about a leaked document from the NSA. In the photo one could see someone’s ID plugged into what looked like a phone. With facial recognition, you can bet that person is burned, if it really was a “leak.” The document was about how the NSA was so successful at infiltrating things like Tor, I2P, and VPN they needed to hire more people. They also need to hire more people who familiar with CryptoNote code. Mind you, the document is dated 21 AUG 2017.
Rule #1 to leaking restricted documents: No identifiable information in the image. Speaking of that, I wonder if that person had metadata turned off because if not, someone at Fort Meade could have a lot of explaining to do. Perhaps they were already fired and that’s why the image was released a while ago. It’s only making the rounds now because the FUD factory is in full swing.
Some Crazy Conspiracy
Leave it to the FUDmongers to come up with some other crazy ideas. Allegedly, there’s a massive conspiracy between mainstream media and big financial institutions who want to collapse the Bitcoin price so that they can do a massive buy in at the new low. They listed a whole bunch of dark net sources who claim to have inside information about it all. Yeah, I watch the X-files too. I want to believe and all that. I’m not saying they’re wrong, I’m just saying it’s crazy in all caps with flashing underlined text. If it turns out to be true, bully for those people who shined light on the darkness that we all know exists in the elite halls of power and wealth!
My Crazy Bitcoin Price Prediction
So here’s my shot at a Bitcoin price prediction. When Jupiter, Mars and the Moon make an isosceles triangle in the night sky, it will be a trigger. That trigger will start a gravitational wave that will set off the LIGO, Laser Interferometer Gravitational-Wave Observatory, who will send out a message to NOAA, National Oceanic and Atmospheric Administration. They will contact FEMA, Federal Emergency Management Agency, to inform them that the alien invasion is underway. Those aliens will actually be made of pure gold.
When humanity begins to fight back, the alien bodies will pile up and everyone will be showered in more gold than we can imagine. That will cause the price of gold to plummet, destabilizing some currencies around the globe. Luckily, cryptocurrencies will be the savior of the global financial market because they’re not based on gold. My Bitcoin price prediction for that event is upwards of $800,000, mostly because the US dollar will be so devalued.
I’ll leave you to analyze and point out all the factual inaccuracies in that prediction in comments.
A Realistic Price Prediction
I’m not a financial adviser, I’m not even a crypto savant. So me making a Bitcoin price prediction is a lot like letting the groundhog do it, only I don’t live in a cave, and actually own some cryptocurrencies. Anyway, here we go. By the end of the day, Bitcoin price will be higher than it was earlier. It won’t be as high as it has ever been.
Yep, that’s it. That’s my complete Bitcoin price prediction. Why? Because it’s probably true. While I was writing this, I watched Bitcoin bounce off the $7,540 mark and ping $8,880. In a previous article I talked about how some believe the Bitcoin support point to be $10,000, others think $8,000 and still others say $6,000. Well on the last day of January the price was all wibbly wobbly around $10K, but it didn’t stick. Yesterday, it began a swift decent to a new local low. Then, today, there were two hours of higher volume and the price went up. This hour it’s going to lose a little. But it still closed the hour at $8,616.
Today’s volume is over $13B already and it’s only 10am Eastern time. Volume has not been that high for two weeks. There have only been 13 days with higher volume all year. Perhaps $8,000 was the actual support point.
Make Your Own Prediction
Many people are looking for someone to give them a firm Bitcoin price prediction so they know what to do with their money. Well, that’s not this place today. Do I, in my iron hand and heart, believe Bitcoin will hit $10K today? Maybe. How about tomorrow? Also, maybe. For those of you looking for a solid, guaranteed Bitcoin price prediction, my advice is this; make your own. Take all the information you can gather about it. Find out all you can about how markets operate. Find the real reasons behind this early year drop off of value in cryptocurrency markets. Then analyze it all. Separate the facts from the FUD. Finally, come to your own conclusion and make your own Bitcoin price prediction. In the long run, it will at least be more realistic than that groundhog’s.
Speaking of groundhogs. Punxsutawney Pete says six more weeks of winter. If he’s anything like me, he just said “Screw this! It’s cold, I’m going back to sleep.” Actually, that’s kind of my crypto strategy at the moment as well. HODL!