Alex Manshinsky, CEO of the Celsius Network, in January predicted that bitcoin will set an all-time high in the fourth quarter of 2020, and his prediction was right. This prediction was given before the corona virus attacked the world.
Manshinsky in his latest prediction during an interview with Kitco Thursday (3/11/2020) stated that in the next 3 months bitcoin still has room to strengthen, but after that it will collapse around 40% to US $ 16,000 / BCT to US $ 15,000 / BTC.
“I think bitcoin will strengthen again to the range of US $ 20,000 / BTC to US $ 22,000 / BTC, before going down and retesting US $ 16,000 / BTC to US $ 15,000 / BTC, due to the lack of trading volume,” said Manshinsky.
According to Manshinsky, the movement will occur in the next 2 to 3 months. But the good news is, in the second semester of 2021 bitcoin is predicted to shoot again.
“The price of bitcoin will indeed experience a correction, but the trend in magnitude is still strengthening. Entering the second semester of 2021, bitcoin prices will move up again until they return to above US $ 30,000 / BTC,” he added.
Citibank predicts bitcoin to reach US $ 318,000 per coin
Meanwhile, Citibank gave a “very crazy” prediction. Through technical analysis, Citibank predicts bitcoin will penetrate US $ 318,000 per coin, or about 1,500% of the current level.
The prediction was leaked to the public via Twitter social media. In his notes to consumers, the analyst calls Bitcoin ’21st century gold’.
“Bitcoin’s entire existence has been marked by unthinkable performances followed by painful corrections, the kind of patterns that underpin long-term trends,” wrote Tom Fitzpatrick, Global Head of CitiFX Technincals Citibank in a note to institutional clients, as quoted by Forbes, Friday (20 / 11/2020).
“Based on the three bulls (uptrend) running over the past decade, the current rally in bitcoin prices has the potential to peak in December 2021, indicating a move of up to US $ 318,000 (per coin).”
“Time will tell if Bitcoin finally reaches such highs but previous events suggest the potential for a major move higher in the next 12-24 months.”
In that note, it was stated that one of the reasons for the increase in bitcoin prices was its reputation as an increasing digital gold.
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