4 Days Remain for 16K Bitcoin Price 4Chan Prophecy: Now Possible?
Will Bitcoin soar to $16k in the next 4 days?
Bitcoin price (BTC) has been a popular topic this week. After the monstrous run from $7,400 to over $10,500 on Oct. 25, it certainly looks as if last week's article indicating the early stages of a bullish reversal came to fruition.
Weekly crypto market performance. Source: Coin360.com
As usual, there has been wild speculation on Crypto Twitter that the Bitcoin price pump was a direct result of Chinese President Xi Jinping calling for an acceleration in the development of blockchain technology as reported by Cointelegraph last week.
Whilst this was good news to hear, it’s doubtful that it was the sole reason for Bitcoin price making one of the largest price leaps in its 10-year lifespan. Instead, it's more likely that the rally was a culmination of several factors including the China news, as well as strong technicals.
The Bitcoin 4Chan Anon Prophecy
Anon Prophecy. Source: 4Chan
Many traders will roll their eyes, but it can’t be ignored. Initially posted on Jan. 21st, 2019, this well-known meme has been astonishingly accurate so far this year.
The meme reads as follows:
“The bottom was December 15 2018. Just look at the charts. We are in the bull market. We are currently in the last 3 months of accumulation stage. After that we slowly rise and rise. Then we will boom. Screen cap this.
April 2019 - BTC ~ $5,300
July 2019 - BTC ~ $9,200
October 2019 - BTC ~ $16,000
February 2020 - BTC ~ $29,000
July 2020 - BTC ~ $56,000
November 2020 - BTC ~ $87,00
This will be a 1.5 trillion market cap. The dominance of BTC will only 40- 46%
The charts never lie”
With just 4 days left for the prophecy to be fulfilled, one must ask whether or not the current price action was predicted by the above prophecy. It certainly wasn’t on any charts I was looking at. However, the phenomenon does lead me to inquire about exactly who the early Bitcoin adopters are. I don’t mean the ones that take to Twitter and are public about it. I mean, who are the sort of people that invested and mined Bitcoin in the early days and keep quiet about it?
The answer is geeks, and what do geeks enjoy watching? Anime, just like the avatar on the anon post. So let’s think outside the box for just a moment, and consider whether a reclusive individual or group could be controlling Bitcoin price with their early stash.
It’s not that far fetched for an asset that was once worth less than a penny and now trades for approximately $9,600. All someone, or a group working collaboratively would have to do is make the manipulation look less obvious by timing their moves to coincide with potentially market-moving news, much like the recent nod from President Xi to adopt blockchain.
Whilst it may seem a little like a tinfoil hat conspiracy, given its past accuracy I wouldn’t want to dismiss this meme prophecy just yet. Furthermore, Edward Snowden tweeted out the anon anime avatar shortly after Bitcoin’s meteoric move on Oct. 26. It does add weight to the reclusive Bitcoin holder theory.
However, one such theory that would explain both the Bitcoin pump and it’s volatility afterwards are the strange things happening with Tether (USDT).
Shortly before the Bitcoin pump on Oct. 25 Cointelegraph reported that the head of Crypto Captial was arrested in connection with the laundering of a drug cartel’s money. Given the close nature of the relationship between Crypto Capital and Bitfinex, and the $850 million that is missing from Tether reserves as a result of that relationship, it’s reasonable to assume that right now Tether could be a hot potato.
24-hours after this news broke, the Tether markets looked rather unusual, in some instances they were down by 5%