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Anonymous: Bitcoin Will Hit $87,000 by November

An anonymous 4chan user who was spot on in his bitcoin price predictions so far this year, accurately hitting price targets, has predicted BTC will hit $87,000 in November of 2020.

As first reported by TrustNodes, the anonymous 4chan user accurately called that bitcoin bottomed out in December 2018 at $3,200, and also got right BTC would be trading at $5,300 in April.

He accurate predictions didn’t end there. The anonymous analyst predicted bitcoin would trade at $9,200 in July and came extremely close, as in the beginning of the month BTC dipped to about $9,500 before recovering.

4chan user's bitcoin price prediction

In the future, the 4chan user sees bitcoin hit $16,000 in October, and keep on rising to get to $29,000 in February of 2020. By November of that year, it’ll be at $87,000. He adds that then its market cap will be of $1.5 trillion, and its dominance will be between 40% and 46%, meaning the cryptocurrency space would have a market cap of well over $3 trillion.

At press time, bitcoin is trading at about $11,380, after rising from the dip earlier this month. The cryptocurrency’s recovery so far this year was notable, even though it’s still around 40% below its all-time high. In the chart, we can see the analyst got his predictions right so far.

Bitcoin's price over the last 6 months

Per the anonymous analyst “the charts never lie.” The model used seems to revolve around bitcoin’s price doubling every time it starts to rise. This pattern has, according to TrustNodes, been occurring since at least 2013.

His predictions would nevertheless line up with those of other prominent cryptocurrency analysts. Willy Woo, for example, has predicted bitcoin’s market cap will hit $1 trillion by 2025, while top technical analyst Carter Worth, who called bitcoin’s price would be at $10,000 in June, told CNBC viewers to enjoy bitcoin’s roller coaster ride to another breakout.

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Written by Ravi Gupat

Ravi grew up in India and graduated in Economics. He is a serial entrepreneur who has founded and exited several companies in tech and media over the past 15 years. He is also an early stage investor and advisor in various blockchain-based companies.

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