TL;DR: Halloween 2019 for the BTC maximalist community and their Number Go Up hopium can count among its casualties how a much-vaunted meme, one passed around for months, has officially died. The so-called 4Chan anon BTC price prediction of $16,000 by October 2019 did not materialize.



4Chan BTC Price Prediction of $16,000 by October is Dead

Price prediction is littered with the reputational graves of many social media influencers. A personal favorite, “This is the last time you will be able to buy BTC under $10,000,” and then the requisite envisioning of sitting down their grandchildren to impart the prophet’s financial wizardry so many decades later is too delicious not to at least retweet, cementing the quality of that person’s thinking in digital infamy.

Doom pornographers who go the other way, crypto Jehovah’s Witnesses intellectually martyring themselves, selling their bags while warning others to do the same before it’s too late, have only to read Mike Hearn’s classic, The resolution of the Bitcoin experiment in 2016, to understand the gigantic miss he made juuuuuuuuust prior to the entire ecosystem exploding by many billions of dollars in value. Hearn could not have been more wrong if he tried, regardless of his principled intentions. It didn’t resolve at all. In fact, it metastasized and grew and innovated by nearly anyone’s measure since his posted gloom.

Back in late January of this year, BTC maximalists on the controversial social media site 4Chan, rallied around a now-infamous price prediction post. “The bottom was December 15, 2018,” it noted. “Just look at the charts. We are in the bull market. We are currently in the last 3 months of accumulation stage. After that we will slowly rise and rise. Then we will boom. Screen cap this.” It goes on to layout 6 price scenarios through 2019 and deep into 2020. Truth be told, BTC did pick up close to those numbers in Spring and Summer, causing some maxis to give almost mystical credence to the 4Chan prediction-turned-meme.

“There will be a 1.5 trillion market cap,” it continued. “The dominance of BTC will only be 40%-46%. The charts never lie.” Welp, apparently they do. BTC languishes at slightly above $9,000 as of publication, but that is certainly well-over where it was when the 4Chan prediction meme was posted — just close enough to buttress true believers who need something, anything, to expect the price to rise. BTC’s tech is old by nearly everyone’s standards. It’s slow and expensive, and adoption is near nil compared to its overwhelming headstart and network effect. At one time BTC maxis had the comfort of clinging to an oracle-like meme. Now even that is dead.

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