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‘Oracle of Bitcoin’ Predicts Price to Blast Through $10K and Test $12K Soon


‘Oracle of Bitcoin’ Predicts Price to Blast Through $10K and Test $12K Soon
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Despite the price of Bitcoin tipping over $9,000 and falling back down again, predictions are that it will soon blast past $10,000. This, in fact, is a prediction from a well known face in the cryptocurrency space, Vinny Lingham. The head of Civic has often been dubbed the ‘Oracle of Bitcoin’ because of his accurate predictions.

Lingham took to Twitter noting that the Bitcoin price action was looking ‘aggressive’, adding that he saw $10,000 fast approaching and even more action to follow. Lingham believes that while $10,000 is not far off, the price of Bitcoin will keep climbing to $12,000 and test those limits.

Two strong months

These types of predictions from men like Lingham are only once again possible thanks to two strong months for the cryptocurrency market. Bitcoin has managed to more than double in value since the beginning of the year and it has been growing at a steady, if not too rapid, pace.

It has been good news across the market, though, with some other coins showing parabolic growth that may be leading Lingham to call Bitcoin’s moves aggressive. Bitcoin is up 129% year-to-date, while BNB has seen a jaw-dropping 432% performance.

Other predictions

Lingham’s prediction joins a few other key calls from important people. Mike Novogratz has said, more cautiously, that he believes Bitcoin will consolidate between $7,000 to $10,000. He further added that “trees don’t grow to the sky”, hinting at his belief that the recent move might be “too much, too fast”.

Bitcoin’s price is currently hovering in the mid $8,000 range with a bout of minor volatility shaking it through that range. Having only tested $9,000 once, and for the briefest time, it will be interesting to see what happens if it can reach that level again.

Moreover, it will be interesting to see if these last two months have been a foundation being laid for Bitcoin to take on Lingham’s prediction, or if it has indeed just been one big bull trap. There are also predictors who are far more cautious, expecting the price to drop back to levels seen at the start of the year again.

Cover image via 123rf.com
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About the author

Darryn Pollock is an award winning  journalist from Durban, South Africa. He picked up Vodacom’s Regional Sports Journalist Award in 2017 while expanding his Blockchain and cryptocurrency reach.  He is a contributor to Forbes, Cointelegraph, Binary District, and of course, U.Today. Darryn’s belief is that Blockchain technology will be the driving force of the next technological wave and it is the obligation of journalists and writers to tell its emerging story with integrity and pride.

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