Legendary Bitcoin trader who called 2013 bubble and subsequent bear market believes that a wild ride is coming, as Bitcoin prices will soon reach five figures.
Ask any oldtimer, and you’ll find that masterluc is something of a legend in the Bitcoin community. His main claim to fame is that he called the top of the November 2013 Bitcoin bubble and the subsequent bear market.
On December 6, with the price at $1100, he said:
“Third day in a row I wake up, see charts and ask myself “Is this the end?” and third day in a row answer is “Yes.” End of first historical bullish trend 2010-2013.”
Multi-year bear market
If that’s not impressive enough, masterluc predicted a multi-year bear market two days prior, despite the price at the time–$1240–being an all-time high. He wrote:
“Ah, of course thanks Satoshi and community, but I am still here =) Next entering point for me is in 2016-2017 year.”
Just in case there was any doubt about his prediction, he reiterated on January 31, 2014:
“I see price failing leave daily bb borders for too long time. This makes me think that price may enter stagnation like it was jan-may 2012. But for a larger period of time. Probably till next reward halving like it was in 2012.”
Not just lucky
In case there are any who think he might just have gotten lucky, consider that he called the end-of-2013 bubble back in March of that year. Nine months before the bubble peaked, masterluc posted the following chart on the bitcointalk forums:
He stated that Bitcoin’s long-term upper trendline would be “somewhere above 1000.”
Bubble to begin around May 2017
On May 30, 2015, masterluc wrote:
“Also you may estimate in this model how much time till next bubble (~ 2 years in my estimations)”
He only missed by about two months, as a quick look at the charts will confirm that Bitcoin’s major surge in price began on March 23, 2017 at $884. At press time Bitcoin is at $4080.
Crystal ball
Masterluc now predicts that Bitcoin will reach $15,000 before the end of this year. What’s more, he believes that Bitcoin will reach a price of $40,000 – $110,000 by the end of this bull run. He gives a timeframe of 2019 for that price target.
While these numbers seem absolutely extraordinary, many traders have noted that the recent “bubble” doesn’t seem so bubbly after all. Bitcoin has not yet gone parabolic as it did at the end of previous bubble cycles.
No guarantees
Of course, as any investing prospectus will tell you, past performance is no guarantee of future gains. It remains to be seen if masterluc is correct in his predictions. If–and it’s a big if–he is correct, there are going to be a lot more Bitcoin millionaires by 2019.
