Mysterious prediction chart: Will Bitcoin price soar to $16,000 in October 2019? 

In the ever-changing world of cryptocurrency, predictions are often like lighthouses in the ocean, guiding the direction of countless investors. Bitcoin, the earliest cryptocurrency, has been the focus of market attention since its birth in 2009. Especially in 2019, predictions about Bitcoin prices have emerged one after another. One of the mysterious prediction charts has triggered widespread discussion and speculation, and some people even boldly predicted that Bitcoin prices will reach a high of $16,000 in October 2019. What kind of analysis is such a prediction based on? Is it worth our deep consideration?

Before we delve into this topic, we first need to understand the volatility of Bitcoin prices. The price of Bitcoin is like waves, sometimes calm and sometimes turbulent. In 2017, the price of Bitcoin soared from $1,000 to nearly $20,000 in just a few months, which made countless investors cheer. However, what followed was the bleak 2018, when the price fell to more than $3,000. Such drastic fluctuations have caused many people to begin to reflect on what factors actually affect the price of Bitcoin.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

A chart about Bitcoin price predictions has gone viral on Reddit. An anonymous author published the prediction on January 21 this year, listing some key price points for Bitcoin in 2019 and 2020. According to the prediction, Bitcoin will reach $5,300 in April 2019 and $9,200 in July 2019. Putting the predicted price on the monthly price trend of BTC, we find that these two points are basically consistent with the facts.

The author's third prediction is that Bitcoin will reach $16,000 in October this year. However, Bitcoin plunged sharply last night, falling to $9,580 at one point and temporarily reported at $9,698, a 24-hour drop of 4.48%. Today is August 29, and the time is about to enter September. In other words, Bitcoin will have to rise 65% in more than a month to reach the target price of $16,000. At the same time, the forecast indicates that Bitcoin's market capitalization share will be reduced to 40%-46%, far lower than the current 69.3%. The current mainstream currency market is in a bloodbath. If the prediction is accurate, it also means that the mainstream currency market may eventually usher in an explosion.

Data source: QKL123

How high can Bitcoin reach a new high? This has always been a hot topic among investors. The anonymous author also gave his answer-87,000 US dollars, and the specific time point is November 2020.

This picture has caused heated discussions on the Reddit forum. Netizen jmrooney said that if Bitcoin really reaches $16,000 in October, this prediction will trigger a comprehensive FOMO (fear of missing out) emotion, and thus reach every subsequent predicted price.

Netizen MistEchoes said that he did not think this prediction would happen. If Bitcoin is adopted as a currency, this will definitely happen, but it has not happened yet, and the two recent big drops are also manipulated by the dealer. It is best for everyone to leave the market quickly before the next big drop. The dealer will not try to adopt Bitcoin, nor will they think of using Bitcoin as a currency. They only trade and only raise the price to harvest leeks.

Johnsom3 also disagrees with the high price of $56,000. He said that the market is satisfied with the valuation of Bitcoin at $10,000, and every $1,000 drop will attract more and more people. A price of more than $20,000 is a bit unrealistic, but 9,000 to 10,000 is the current bottom.