- Analyst and trader “CryptoWhale” used quantum model to predict Bitcoin’s price
- According to this analysis, Bitcoin will bottom at $2,000 before a proper bull run to $24,000 in 2022
- The prediction runs contrary to bullish sentiments prevailing at the moment because of the recent Bitcoin halving
If a new quantum model analysis is to be believed, Bitcoin will potentially drop to $2,000, which will act as the final bottom for a proper bull run in 2022.
Crypto trader and analyst “CryptoWhale” introduced on Twitter the Fermions Flow (FF) Whale Model, a quantum analysis model that claims to forecast the future price of Bitcoin.
Fermions referred to particles, such as quarks, leptons, and electrons that follow Fermi-Dirac statistics, which describes a system where indistinguishable particles can be distributed among a set of energy states, with the condition that each available discreet state can only be occupied by one particle.
The graph CryptoWhale shared included the price of Bitcoin plotted along with data points from 2012 to 2022. According to the forecast, Bitcoin’s price will go down to the $2,000 level in 2020 and will visit this level in 2021. After that bottom, a proper bull run will catapult Bitcoin to $24,000 in 2022.
Cryptowhale claimed to have spent 6 years in developing this model to predict the future price of Bitcoin and promised to release a 27-page document that detailed the process of the quantum analysis this June. When pressed further, the analyst said the model “effectively predicted every major move since 2018.”
CryptoWhale’s bear predictions run contradictory to recent BTC price predictions, which are mostly bullish. Bitcoin just experienced its 3rd halving, an event that has long been considered bullish based on past scenarios. Famed cryptographer and now Blockstream CEO, Adam Back, said the current global situation could propel Bitcoin’s price to $300K, even without institutional involvement. Institutional investors, like those serviced by the Grayscale Bitcoin Trust, are buying 25% of Bitcoin’s annual supply.
On the other hand, Bloomberg released its “Crypto Market Outlook” research that predicted Bitcoin will revisit $20,000 in 2020. Both are bullish outlooks for the world’s first cryptocurrency.
However, nothing is more bullish than the prediction made in 2009 when Satoshi Nakamoto announced the release of Bitcoin v.01. Computer scientist Hal Finney discussed with Nakamoto the possible future value of Bitcoins.
“As an amusing thought experiment, imagine that Bitcoin is successful and becomes the dominant payment system in use throughout the world,” he said. “Then the total value of the currency should be equal to the total value of all the wealth in the world.” His estimate of $100 trillion to $300 trillion gives Bitcoin a value of $10 million each.
Bitcoin was worth zero at the time.