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There was once in ancient time, 2019, a bitcoin prophecy that grabbed everyone’s imagination because it appeared to have called bitcoin movements pretty much to the dot.
The world famous hacker known as 4chan said that December 15th 2018 is the bottom, which is now officially so.
He then went on to say on the 21st of January 2019 that bitcoin will reach $5,300 in April 2019, which it did.
It was then picked up and meme hyped a bit with das prophecy saying bitcoin will $9,200 in July 2019, which it did.
It then went even further in July to $13,000, but the October $16,000 didn’t come about. We blamed Boris Johnson, the British Prime Minister, jokingly.
The Boris Interlude
As you may recall in this ancient time there was a big debate about deal or no-deal with Europe. The no-deal talk played into the price of the pound and bitcoin, but Johnson managed to get a deal in the end, and a landslide victory in the election too, so bitcoin chilled out, as did the pound.
Quite a lot has happened since, with that same Johnson now a bit on a tightrope as party gate continues with calls for him to resign.
Where independents are concerned however, it would have been very different if he had lockdown locky for Christmas or even New Year.
He didn’t. Conservatives revolted, while Labour acted as a lapdog, and Boris listened. He imposed no lockdown, he is now to remove any little restriction left, he is to remove self isolation, and in a few weeks mass testing will go too.
We are free. The British economy is booming. Whatever fault, it is time to move on in our view and if we had the choice, we’d forgive in a general amnesty any outstanding fines or other punishments for and during the extreme measures.
It’s not for us to get involved in internal conservative politics however except to say we wouldn’t mind if Boris stays, something that would have been very different if he had not listened, with the Chancellor now having the opening to set the agenda for global Britain in the March budget.
And where it concerns who was right in the end, we’re pretty sure these pages were as enacted by Sweden and then Florida and now England.
There was a plan for this sort of situation by the civil service designed in cooler times and the plan said let it run. That’s what the British scientists said too in early March, but the media had gone hysteric with it shown best by that moment Angela Merkel went to the supermarket to re-assure the people. She was isolated a few hours after.
There will have to be an independent, proper and Royal enquiry on all matters and in particular in regards to potential abuses of trust, especially by modeling ‘experts,’ as well as with a focus on how to ensure there is proper independent advice to guard against what can be called bureaucratic bubbles or evenbureaucratic subversion, trust but always verify.
For however much authoritarian China may have bragged, history will undoubtedly show the free way was best as exemplified by Sweden where excess deaths were in the negative in 2021.
The lockdowns just prolonged the inevitable while unnecessarily causing undue harm, which is what the British scientists initially told us would happen. But that all is finally over, at least in England, where democracy and liberalism has prevailed.
The Prophecy Fulfilling?
We asked whether the prophecy was broken in October 2019, and concluded: probably not, it’s just the haxor 4chan was going a bit too fast.
It’s in January 2021, and not February 2020, when bitcoin reached $29,000. It then went on to $56,000 in February 2021, not July 2020. Now the most interesting part of all this, and the whole point of this article, is that November $87,00.
He puts no year for only that month, and makes presumably an intentional typo, or maybe it’s accidental for the ‘screenshot this’ post.
$87,000 or $80,000 is where speculatively you might think bitcoin will go if it heads up. That would strengthen this new theory of three months cycles.
That’s the suggestion that rather than two years of bull and two years of bear, we might get three months of bull and three months of bear due to monetary inflation now being at less than 2%.
Why three months? A little known and even forgotten open source ‘secret’ is that you can not spend, or move, newly mined bitcoins for three months.
There probably isn’t any technical reason for that, but a good policy reason would be to ensure that miners have skin in the game and keep caring for the network because they won’t be paid for another three months.
What effect this has on price, or supply and demand dynamics, can only be ascertained from observation with the halvening for example beginning to be ‘felt’ only some months after it goes into effect.
Thats because due to this 90 days probation on spending, there’s a delay in the practical supply and demand.
As such if we develop into three months cycles, there can be a technical explanation in as far as that’s how long it takes new supply to come on board or to be taken off board.
The prophecy thus has been pretty much to the dot so far with just some minor divergence in little details, but whether it will $87,000 as well, remains to be seen, although it has done everything else so far so, why should it not.