Bitcoin price has always been fluctuating over the years and no one is certain whether the value of this cryptocurrency will increase or decrease in the future. The people who own bitcoins are always confused about whether to sell their BTC now or hold on it for some and sell it later at a higher profit margin.
One of the popular analyst and trader, CryptoWhale has predicted that Bitcoin price will fall down by 80% to $2,000 at the bottom before rising up again to $24,000 in 2022. Here are more details on the Bitcoin price prediction model and whether you should sell your bitcoin now or hold on for some more time.
Bitcoin Price Prediction Model and Future Drop
Crypto trader and analyst “CryptoWhale” has introduced a quantum analysis model on Twitter called the Fermions Flow (FF) Whale Model which can predict the future price of bitcoin. CryptoWhale has used data from 2012 to 2022 to form the Bitcoin price graph and made the future prediction. As per the forecast, Bitcoin’s price will fall down to $2,000 this year will remain on that level till 2021, which means BTC price dropping by 80% of the current $10,000 price. Once hitting the bottom, a proper bull run will catapult the price of Bitcoin to $24,000 in 2022.
Introducing the (FF) Whale Model! 🐋
This quantum analysis model uses dozens of statistical modeling, measurement, and research to predict #Bitcoin's future price.
It forecasts the bottom in 2021, then the start of a bull run in 2022.
— Whale 🐋 (@CryptoWhale) June 2, 2020
Cryptowhale claims that it has spent 6 years developing the model and there is a 27-page document that explains how they have predicted the future price of Bitcoin. The analyst also claims that the model has correctly predicted every major Bitcoin move from 2018 correctly. Whereas BTC price predictions and other bullish analysts such as Blockstream CEO, Adam Back have predicted that Bitcoin price will rise to $300 K even without any sort of institutional investments.
Future of Cryptocurrency: Should I sell my Bitcoin Now?
Bitcoin and the future of cryptocurrency are totally uncertain at this point and different sources have different predictions on BTC prices. Bloomberg has predicted that Bitcoin price will again reach $20,000 in 2020 and it makes everything more complicated. Satoshi Nakamoto launched the Bitcoins in 2009 and predicted that the price of Bitcoins in the future will become equal to the total wealth in the world.
It means each Bitcoin will have a value of $10 million given the total wealth is around $300 trillion, which is a very absurd prediction. If you can hold off your Bitcoins, the prices will increase at one point, but if you are in debt, it will be smart to sell some of your bitcoins now and wait for the future for the rest of the BTCs.