Ever since the mysterious Satoshi Nakamoto released Bitcoin into the wild, the world has been speculating over the first-ever crypto and its long term validity and value.
While the current bear trend and over 84% decline in Bitcoin has crushed much of the enthusiasm the market saw during the 2017 parabolic advance and media blitz, crypto investors still believe that in the long term, Bitcoin price will reach over $100,000 to as much as “millions” of dollars.
Poll Results: Bitcoin Price to $100,000 or Millions Long-Term, Votes Majority
Prominent crypto trader and top author on popular charting site TradingView, the outspoken MagicPoopCannon, polled his over 20,000 Twitter followers hoping to find out what the collective crypto investing community thinks Bitcoin’s long-term value will reach.
The results are in! 42% of the 3,000 voters think BTC will reach into the $100,000 to Millions range, and 72% think BTC will surpass $20,000. Very nice. 😁 — MAGIC (@MagicPoopCannon)
The trader himself thinks that Bitcoin price will go to “at least $100,000 within four years,” adding that he thinks “it could even reach $150,000 in that time.” Eventually, he says, it could “surpass $1,000,000.”
Related Reading | From $20K to $3K and Back: How Bitcoin Price Counters Sentiment in the Crypto Market
The large majority of his followers agree, according to a Twitter poll the trader ran. As much as 42% of nearly 3,000 voters think that Bitcoin price will reach $100,000 to “millions” long term. 30% see the leading crypto only reaching a maximum of the previous all-time high price of $20,000 to $100,000, and just 13% think that its value will top out somewhere between $3,000 and $20,000.
The bear market got the best of some investors, who see the price of the first ever cryptocurrency falling much further from here, with its long-term price being pegged at anywhere between $3,000 and virtually worthless at $0.
For my long term view, I see Bitcoin going to at least $100,000 within four years. I think it could even reach $150,000 in that time. Eventually, I believe it could surpass $1,000,000. Where do you see BTC going in the long term? — MAGIC (@MagicPoopCannon)
Only time will tell where Bitcoin price eventually ends up, but MagicPoopCannon’s technical analysis has been spot on for much of the last two years of Bitcoin buzz, and his support of these astronomical values on Bitcoin might suggest that those lofty predictions could become a reality at some point in the future.
Top TradingView Author Calls Bitcoin’s Break of $6K, Now Says Bottom is In
MagicPoopCannon is among the top authors on TradingView, boasting over 10 million views across his trading ideas and over 53,000 followers on the platform.
The eccentric trader has earned his strong reputation after making a number of correct calls far in advance of the move actually happening. No such example is better than Bitcoin’s break of critical support at $6,000. The actual plummet didn’t occur until mid-November, but the trader actually of 2018 – a full six months in advance of the powerful bearish movement.
Nine months ago, in the attached analysis, I showed you how BTC would fall to $3,000. Now, I believe the market has bottomed at just above $3,000 last December. Time will tell. Here is a look at my forward view, when most others were overly bullish… — MAGIC (@MagicPoopCannon)
Now, the trader is claiming that “the bottom is in,” and Bitcoin is following a bottoming fractal from the 2015 bear market that led to a period of accumulation before a bull market resumed. Once the bulls returned, history was made as Bitcoin skyrocketed to $20,000.
Related Reading | Peter Brandt Calls For 80%+ Bitcoin Price Decline Over A Year Ago With Chilling Accuracy
Given MagicPoopCannon’s accurate predictions, and his calls for $100,000+ in the future, if Bitcoin truly has bottomed, the next bull run may take the cryptocurrency to incredible heights.