German Bank Considers Bitcoin Could Hit $90,000; Anonymous Trader Predicts $16,000 This Month | UseTheBitcoin
Bitcoin gold coins in currency

German Bank Considers Bitcoin Could Hit $90,000; Anonymous Trader Predicts $16,000 This Month

Avatar · in Breaking, Crypto News
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

An anonymous trader in 4chan has predicted Bitcoin’s (BTC) bottom in December 2018. He was also able to predict Bitcoin’s price performance in April and July. He considers that in October, Bitcoin will reach $16,000. 

At the same time, the German bank BayernLB released a report in which they consider Bitcoin could reach $90,000 after its halving event in May 2020. 

Bullish Bitcoin Price Predictions

A few weeks ago, Bitcoin fell from $10,400 and it dropped under $8,000 for a short period. This has affected the current sentiment in the market. While many investors expected Bitcoin to surge above $13,750, it ended up falling. 

At the same time, Bitcoin monthly sentiment fell during the last days of September. At the moment, Bitcoin’s sentiment remains in negative territory with 0.076 points. 

Nonetheless, an anonymous 4chan user correctly predicted Bitcoin’s price performance in December 2018, April and July 2019. He said that Bitcoin bottomed on December 15, 2018, and that the virtual currency was going to raise to $5,300 in April and $9,200 in July. 

The next price prediction is for October. He considers that Bitcoin should be traded close to $16,000 and surpass $29,000 by February 2020, before the halving event. After Bitcoin’s halving, Bitcoin could reach $56,000 in July 2020 and $87,000 in November 2020. 

Although that’s far from the $1 million John McAfee predicted that’s certainly a bullish price prediction for Bitcoin. 

At the same time, the German bank BayernLB published a research paper in which they consider that the most popular cryptocurrency could reach $90,000 next year. To predict this value, they analyze the stock-to-flow (S2F) ratio for Bitcoin. 

On the matter, they commented:

“If the May 2020 stock-to-flow ratio for Bitcoin is factored into the model, a vertiginous price of around USD 90,000 emerges. This would imply that the forthcoming halving effect has hardly been priced into the current Bitcoin price of approximately $8,000.”

PlanB, a recognized crypto analyst, has also published a chart in which he says that Bitcoin remains slightly below the stock-to-flow model. PlanB has always analyzed and explained how the S2F model can be applied to Bitcoin taking into account Bitcoin’s price performance in the past. 

You can read more about Bitcoin’s price prediction here.

At the time of writing this article, Bitcoin is being traded around $8,366 and it has a market capitalization of $150 billion. In the last 24 hours, Bitcoin surged 1.53% according to CoinMarketCap.

Build a winning crypto portfolio
Free report teaches how to structure your crypto portfolio, so you can maximize gains and minimize losses.