Bitcoin entrepreneur and investor Trace Mayer believes Bitcoin will hit $27,395 by next February according to his own analysis using a 200 Day Moving Average.
Let’s be clear – there is absolutely no shortage of Bitcoin price predictions floating around the internet. A quick Google search these days yields no shortage of financial experts utilizing fundamental analysis, technical analysis, and Bayesian regression techniques to produce forecasts as far-ranging as the methods they employ. And let’s not forget the daily parade of mainstream articles proclaiming Bitcoin to be worth precisely nothing.
Bitcoin entrepreneur and investor Trace Mayer recently threw out his own predictions on Twitter, and he’s placing his bet on a $27,395 price by next February. His personal technique? The 200 Day Moving Average (DMA), a metric which has been steadily rising for Bitcoin since its inception. According to his calculations, we’ll see Bitcoin hit that price in another four months if it can maintain a $5,767 22 DMA by February of next year.
A good month of $BTC consolidation. 200 day moving average rising well. Next six months should be very interesting & fun. LedgerX! #NO2X pic.twitter.com/Q1n3ns1myu
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