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With the Bitcoin halving rapidly approaching, the multi-billion-dollar question is just how the historic event will impact BTC price.
One popular Bitcoin price prediction model has a post-halving price in the range of $55,000 to $400,000.
According to the theorist behind the prediction, people have been misinterpreting the model behind the lofty figures presented.
The analyst responsible for them has addressed the confusion, advising folks not to hold their breath for a $50,000+ Bitcoin (BTC) during the three months leading up to the halving.
Apparently some people have interpreted the already extremely bullish BTC price prediction model as even more optimistic than it is though.
Analyst Plan B addresses the misunderstanding in the following tweet:
“Some misunderstandings about S2F model: 1) That it predicts $100k by May2020. No, it predicts $100k May2020-2024 average, like the chart shows 2) Why $100k, it was $55k? Yes, the original model on monthly data (Mar22) says $55k, but a new model on yearly data $100k. Your choice.”
The analyst clarifies that the price mentioned in the original paper (and a higher target of $100,000 worked out using yearly data) is not a pre-halving prediction.
Instead, it refers to the average price we can expect at some point after the event itself.
CHAINLINK (LINK) TO HIT A NEW ALL-TIME HIGH SOON, ANALYST CALLS
Chainlink crypto, a project that joined the crypto market relatively late, is on an expansion again, promising to break its all-time record.
LINK, one of the most active altcoins that has even defied the bear market, is on a fast expansion once again.
The asset has been known for its rapid, significant appreciation boosted by activity on Binance and a strong community.
LINK remains volatile, sinking from its highs by as much as 60%, but expansions are dramatic.
This time, while an altcoin season is not a promise, most assets regain some of their value.
This translates into significant earning opportunities as altcoins move very fast. What is even more curious, LINK made most of its gains during the bear market of 2019, and has repeated price peaks in the past year.
“There is virtually little to no resistance between here and the ATH for $LINK We should see new ATH’s & price discovery next few months – this alt rebound I’m confident will continue with $BTC halving looming in the background and the bull market cycle progressing forward …”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.