John McAffee Predicts at Least $15K Bitcoin in June
You may have heard John McAffee's long term prediction of $1 Million Bitcoin by the end of 2020. Recently, however, he made more of a short term prediction saying that Bitcoin will at least reach $15,000 in June and dip in July.
He said his predictions are based on a mathematical analysis and he also pointed to June 12th as a date that Trump would sign Reunification treaty with North and South Korea. Based on his analysis McAffee predicted this on Twitter on May 22nd before Trump announced it in his letter to Kim Jong Un on May 24, 2018.
Because the letter was Trump cancelling the meeting based on Kim's angry outbursts and threats many in the media criticized Trump for cancelling the meeting. But shortly after this letter Kim released a statement saying that he still wants to meet with Trump and will modify his behavior.
Even Scott Adams predicted in his book, Win Bigly, that Trump would walk away from the North Korean deal at least once.
I wish I knew McAffee's mathematical formula. Is this guy a genius? And what was that thing about a gold backed US currency? Is that an admission that the Dollar is in trouble?
Back to the Price
As I have noted in my technical analysis on May 25th giving several reasons why I believe the low is already in on February 6th.
- We are seeing higher lows and we are running out of sellers in the market.
- RSI on those lows is trending upward, creating Bullish Divergence.
- The MACD has created a YUGE symmetrical triangle of which the apex ends in mid June. A breakout must occur either direction BEFORE we reach the apex.
- Plus looking at the fib retracement from $0 to the all time high, it shows that we are in the golden pocket between 0.618 & 0.65 fib. Indicating a key pivot point.
- Market sentiment is pretty low right now as most people seem to be pessimistic about Bitcoin's price. As a contrarian this tells me we are near the end of this market cycle and near the beginning of another bull market.
Summary
So in summary, my TA shows and showed before I discovered McAffee's prediction, that June would be a bullish month and that we will see a dip in July only to continue the white 5th wave in August. Followed by the larger Blue 4th & 5th waves by the end of 2018.
These are all strong indications and is being strengthened daily but I always trade as if I could be completely wrong and have the other half of my funds waiting in case Bitcoin does go down to $3,000.
If it breaks the low of Feb 6th and closes below the lower trend line then we would have to reaccess. But as it is right now I am expecting a bullish market beginning in the first half of June.
Note: If I'm long term investing in a coin I will hold a portion (10 - 25%), preferably in secure storage without trading them.
Disclaimer: This is my personal technical analysis. You should not trade cryptocurrencies without taking full responsibility for your own decisions. I will NOT be responsible for any loses you may have incurred based on my TA. Responsible money allocation is key to not gambling all your investments on one or a few trades. I am now a professional trader but am still learning the hard knocks and realities of swing trading full time. I take responsibility from my own decisions, so should you.