Well, That Didn't Take Long. A Follow Up to My $17,000 BTC Price Prediction Issued Two Days Ago

And a further bonus year-end BTC price prediction coming...

Just a quick note about my predicted fall of BTC prices to $17k slightly less than 48 hours ago when it was trading at $20,720. Subscriber Russell Zo asked if I used sentiment metrics to settle on a $17,000 level for BTC within six weeks, and my answer is a definitive “No” to this question. Sentiment metrics may point to further bearish price levels but wouldn’t provide a price level within a specific six-week time frame. Though I also have discussed BTC price volatility metrics on this platform, I did not use this in my assessment of significantly lower BTC prices either, nor did I use any Technical Analysis charting patterns to settle on my $17,000 price prediction.

I also did not use the collapse of FTX token FTT as a consequence of Sam Bankman-Fried’s feud with Binance’s CZ to predict this collapse, as this post-mortem narrative was falsely used as an explanation for BTC’s current price dump. As you will see in the below charts, I provided my imminent price dump to $17,000 BTC well before the collapse of FTT started, when it was still trading above $22.

Furthermore, the fact that the price crash of FTT token this week has allegedly eviscerated Sam Bankman-Fried’s wealth from $16B to $1B aptly illustrates the lack of proper risk assessment that pervades the cryptocurrency community. Granted, $1B is still likely more than you and I will ever see in our lifetime, but I wonder if his crushing loss of wealth will make Bankman-Fried reconsider his statement from this past April that he will give away 99% of his wealth, a statement now, if executed, would only leave him with $10M in wealth. If he actually even still possesses $1B, which is heavily in doubt, he should use this money to reimburse as many as possible for their FTT losses, though anyone with huge losses in FTT must also take personal accountability for their lack of risk assessment as well.

With my $17,000 BTC price now likely not requiring the full six weeks of time as the timeframe I provided BTC would dump to $17,000 to play out, I will provide another BTC price prediction tomorrow for the end of this year for paid subscribers only, of which I am just as confident will manifest as this week’s prediction of $17,000 BTC.