With the highly unstable cryptocurrency market, many predictions have been made, some for and many others against the bright future of cryptocurrencies.
A respected crypto trader has taken to his Twitter account to predict that Bitcoin will fall to $4,000 before the beginning of next year. He also said Ethereum will fall to $100 before next year.
This year, you will see BTC in the $4000’s or lower, and ETH at $100 or lower.
If I’m wrong, I will send a box of Cuban cigars to everyone who retweets this.
— Bitcoin Macro (@BTC_Macro) September 17, 2018
Admittedly the cryptocurrency market has seen a “bad market” with cryptocurrencies reaching between 65% and 95% loss since the year begun and there may be a further loss. Nevertheless, many experts in the industry are optimistic that the market will experience a great boost in the future even starting this year.
Analysts said Bitcoin will likely grow to between $7,000 and $9,000 before the end of the year. Some experts have also predicted a greater adoption of cryptocurrencies, introduction of new scaling solutions, bringing in institutional investors, emergence of decentralized exchanges and even a further drop before a rise.
John McAfee, founder of McAfee Associates who is better known by his “unhackable wallet” story had earlier on predicted that Bitcoin will reach $1 million in the near future following his earlier prediction of $500,000, saying the cryptocurrency is moving at a very fast pace. He himself made a promise earlier this year to give $100,000 to whoever hacks his “unhackable wallet”.
With all these positive predictions from experts and analysts, why is this “Bitcoin Macro” so confident that Bitcoin and Ethereum will crash and this time promising a box of Cuban cigars instead of $100,000 like McAfee or even more?
As a response, a Twitter user said the prediction was a move to promote FUD by promising the box of cigars to encourage retweets which he has gotten a lot. As at yesterday, he got 1.124k tweets and 721 likes with 163 comments. The popularity alone is worth more than the cigars.
He however said he wasn’t promoting an FUD and that his “pessimistic predictions” will not affect the price or turn people from the market, contrary to what some people believe. He also claims he just wants to warn people against what is to come, saying if anyone thinks we have seen the bottom of cryptocurrencies then they are either not experienced traders or don’t have experience outside the cryptocurrency market.
FUD? Quite the opposite. I’m simply here to help people and make them aware of what’s to come.
If you think we’ve seen the bottom and won’t go lower, then you’ve probably been trading for less than 2 years and have no experience outside of crypto.
— Bitcoin Macro (@BTC_Macro) September 18, 2018
Bitcoin Macro must have gotten the attention of the cryptocurrency community by this prediction but what will be really interesting is seeing if it comes to pass. If it doesn’t then I guess the price of Cuban cigars will go up as well seeing he will be buying cigars for over a million people.