40 Bitcoin Predictions: What I got right, what I got wrong, and ones for the future
The original article is posted here, on Yours.org. Four Predictions are shared for free, and the remaining 36 are viewable for $1.25. To entice you, the four available for free can be found below. I hope you enjoy.
During the middle of 2013, I discovered Bitcoin as a result of what was going in the country of Cyprus, and let’s just say, I’ve been hooked ever since. Like most people, I’ve made many predictions over the course of Bitcoin’s history, and in this writing, I’m going to share as many as my memory allows. You should see some bonehead predictions, some spot-ons, and some that are too close to call. The predictions will go in chronological order, beginning with the initial predictions made in mid-2013, and ending with ones of the future. Four are viewable at no cost, and the remaining 36 can be viewed by unlocking the paywall for a cool, $1.25. And if you share one of your own in the comments section, I will gladly send $0.25 back in your direction. Hope you find the predictions interesting and the stories behind them equally as enjoyable. Now let’s get this show on the road.
Prediction #25: In the midst of another “China bans Bitcoin” episode, the bull market would NOT end.
Result: True. I was proud to get this one right, because at the time, a lot of people I knew were freaking out, thinking this was the end. I stood calm, knowing this storm would pass, knowing sunny days were just ahead. I knew this because the chart wasn’t going to end with Bitcoin topping out at $5,000. Not when we had just broken out over $3,000. Not without rising exponentially. And mostly, because we had experience with “China banning Bitcoin” back at the beginning of 2017. When it happened then, Bitcoin’s price fell, but it didn’t break. It recovered, and a few months later we proceeded to reach the high from 2013, which then launched us into the beginning of Bitcoin’s meteoric rise. It didn’t stop us then, and it wasn’t going to stop us now. I told my friends there wasn’t anything to worry about, and it would probably be a good time to buy if they had any extra cash lying around. China banning Bitcoin is never as scary as it seems.
Prediction #16: Vinny Lingham’s “Bitcoin to $1,000 by 2017” prediction was going to be accurate.
Result: True. Just as Vinny publicly predicted, the price of Bitcoin was $1,000 as 2017 began. Because of this prediction, he became known as the Bitcoin Oracle; but to me, he was somebody who knew how to read and interpret a chart’s pattern correctly and extrapolate the data from it. That may sound like a knock on the guy, but I hope you don’t take it like that. He’s a very intelligent and respectable person. I value his opinion, appreciate his Bitcoin contributions with Gyft, look forward to him making a difference in identity verification with Civic; and to be honest, it did take talent to make that prediction. But I watched The Matrix, so throwing “Oracle” around is something I don’t take very lightly. Haha, just kidding around. But anyways, based on the trend at the time, his prediction seemed accurate and I absolutely agreed with it.
Prediction #17: After the Winklevoss Bitcoin ETF (Exchange Traded Fund) was disapproved by the SEC, it was curtains for the price.
Result: DEAD Wrong. — And I’m so glad I was… But wow, this event put me through one hell of an emotional rollercoaster. I was so hyped up from it, tracking the price on a daily basis, watching industry news, writing articles; and then on the day the ETF was axed, my enthusiasm was gone, hopes were shattered, and I was in one of the worst moods I’ve ever had in my life. I didn’t know what to do, what to think, or where the market was going to go from there. 2013’s all-time high had already been breached — largely due to the ETF speculation — so I fully expected the ETF to be approved (wishful thinking). When this thought was put to rest, and because the run-up past 2013’s all-time high seemed to be the catalyst for the rise, I began to doubt whether the exponential rise would ever occur again. I fully expected the price to tank. Well, I was both right and wrong. For the first few days, it held strong, but after a few more, it started to drop. As it did, my emotions got the best of me and I ended up panic-selling some of my small stake like a worried little child. What a costly error that was…
Future Prediction #5: Central Banks will issue their own digital currencies.
Comments: And I say GOOD. Let them get their citizens accustomed to using digital currency. Let their centralized cryptocurrencies compete with decentralized cryptocurrencies. Governments and central banks are powerless to stop the best decentralized cryptocurrency(s), and they may temporarily “win” by disallowing trading or commerce to be conducted with them, but as the age of digital money makes its mark on the world, the best form(s) of money will win out in the end. The good ones will always be available as an alternative for the inevitable day when the central bank or government abuses their money-issuing rights. When they’ve gone too far and the citizens unite and stand up to them, the people will have a fair alternative to fall back on. Decentralized cryptocurrencies can, and will, keep governments in check — and you should consider that a prediction, too.
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