He bet the maximum price of the currency would reach $30,000, but he valued much more!
Bitcoin shirt man desperate looking price chart
The price of Bitcoin continues to surprise people around the world, including those more orthodox fans of cryptomeda. The owner of the oldest website on digital currency, bitcoin.org, said he expected the price to rise by a maximum of US$30,000. However, the price has already surpassed $40,000 at several brokers, a figure never seen before.
The move has been fast, as Bitcoin was still priced at $18,000 in early December 2020. By more than doubling the price, Bitcoin would have frustrated the owner of the website that is the community reference.
However, there is a very strong reason for the pessimism of the currency enthusiast.
The owner of bitcoin.org was surprised at the price in the heights
Well known in the cryptomime community, Cobra Bitcoin is the owner of bitcoin.org. Cobra is part of the history of digital currency and has followed the market since the early years.
By 2021, however, he would be scared and even pessimistic about Bitcoin’s recent boom. According to Cobra, his predictions led him to believe that the current high would take the currency to a maximum of $30,000.
He called this bullfighting (bullish move in the market) unreal, and asked his followers for their opinions on Bitcoin’s price forecast for 2021.
Cobra said his pessimism at Bitcoin’s rise has one justification: he likes it when Bitcoin is low. That way, he can buy more. Bitcoin’s high would be getting in the way of him accumulating more Bitcoins in his portfolio.
„In general, I am pessimistic about price forecasts, maybe because I unconsciously wanted Bitcoin to be cheap so that I could accumulate even more“.
Bitcoin history is showing new concept of overbought
Cobra said he did not expect to see the Bitcoin burst because he believed there would be sales in the market. The ’surprise‘ at seeing the currency reach historic levels, however, is just an irony of Cobra, who has been a fan and enthusiast of Bitcoin for many years.
Bitcoin does not go more than 3 days without breaking a record price in the market. But this has been seen other times.
For veteran market analyst Peter Brandt, Bitcoin is redefining a common concept among traders: that of overbought. For Brandt, Bitcoin has been overbought for some years, a strange move for technical analysts who may be waiting for a correction.
„Bitcoin $BTC is redefining the concept of „overbought“. Bullish markets become and remain overbought. Major bullish markets become mostly overbought. Historical bullish markets become historically overbought. Red arrows mark mid-points of parabolic advances“.