[2017-10-12]Ultra-Rich Investor Trace Mayer Predicts Bitcoin Price Will Reach $2

Carlton Banks

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Quote from: cr1776 on October 12, 2017, 09:23:01 PM

Quote from: Carlton Banks on October 12, 2017, 04:49:32 AM

I would question the methodology Meyer is using to extrapolate the price trend. I'm not an expert in market technical analysis, but even I know that moving averages are not an indicator of future prices at all. Maybe everyone is feeling confident about the $5000 mark being definitively crossed, but the volumes taking us there have not been exactly confidence inspiring to me.

And it would not suprise me if these (very optimistic) price outlooks we've been receiving are either notably interrupted or outright reversed instead. Don't get me wrong, I'm bullish long-term about Bitcoin, but the short-term isn't necessarily as obstacle free as the recent consensus suggests. Quite often, carefully doing the opposite of a widespread sentiment is the best investment decision (i.e. be greedy when all are afraid, and afraid when all are greedy).

You are probably right. But giving the number of doublings we’ve had since mid-2010, 1 or 2 more doesn’t seem that difficult. 😂

I'll be happier if I'm wrong in this case Grin

(and even happier if we double up again, even once)

Kakmakr

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I have a lot of respect for Trace Mayer, but I think his prediction is flawed. We have only seen a sudden increase in the price, because people are hoarding and buying coins in anticipation of a big payday, when the upcoming hard forks will dish out some free coins. < So this is not a natural adoption increase or increase in demand >

I anticipate a significant drop in the price after the fork, when people received their free coins from the hard fork and they start selling off the coins they hoarded before the fork. < price correction >

You cannot extrapolate a future price on unnatural events that are based on temporary push factors. ^hmmmmm^

rroyk

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Since he is rich and huge bitcoin hodler are the people leading the industry as what ever they say for a short period of time people just believe it just like that.
so mayer here may be totally wrong or right we just have to wait.

cpfreeplz

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Blah blah blah, some guy rolled some dice and he came up with $12,345 a piece by X date. Woop dee doo. Can he also back this up with past predictions that actually panned out? Not just "bitcoin will go up" but real good analysis? I didn't think so.

Let the bull run take it's natural course. No need to insult people's intelligence.

The_Dark_Knight

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Quote from: 1Referee on October 12, 2017, 04:03:20 AM

Another clown not being shy of expressing his thoughts on Bitcoin, while in reality it's nothing more than an attempt to gain himself a bit of attention in this market, which apparantly has worked out well for him looking at the article coverage. Don't get me wrong, I am in support of the bullish sentiment and the mildly exaggerated preditions that happen to come with it, but this is just insane. In order to test him out if he really stands behind his words, and knowing that he isn't shy of a bet, it would be a good idea to have him place an x number of coins in escrow for another bet. I am quite sure that he will *politely* decline that offer for whatever reason. Roll Eyes

According to the article in the link, the investor is in fact an early investor so at least he is one of the few that is committed to bitcoin and not like many others that throw random predictions and do not have a single dollar invested in bitcoin, so while his prediction is abnormally high at least he has some skin in the game and it seems he is willing to put money where his mouth is.

jseverson

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Quote from: 1Referee on October 12, 2017, 04:03:20 AM

Another clown not being shy of expressing his thoughts on Bitcoin, while in reality it's nothing more than an attempt to gain himself a bit of attention in this market, which apparantly has worked out well for him looking at the article coverage. Don't get me wrong, I am in support of the bullish sentiment and the mildly exaggerated preditions that happen to come with it, but this is just insane. In order to test him out if he really stands behind his words, and knowing that he isn't shy of a bet, it would be a good idea to have him place an x number of coins in escrow for another bet. I am quite sure that he will *politely* decline that offer for whatever reason. Roll Eyes

Not to defend him, but at least he's put his money where his mouth is by supporting Kraken, BitPay, and Armory. He's obviously not doing it out of the goodness of his heart because he has everything to gain if Bitcoin continues to succeed, but concrete support is concrete support. He's at least better than Dimon who disparages Bitcoin just to nuy dips.

Thayt doesn't mean I would trust him with my money though. He's supporting Bitcoin because he has an agenda, and will withdraw for sure once he feels there is no more money to be had. He won't think twice about using his followera to this end. His prediction does seem out of touch with reality, and you're correct that he's clownish in terms of that bet.

Nameless27

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Exaggeration maybe an issue to some but it’s more likely entertaining to me. How can you hate that kind of guy having the same trust and perspective in all of us. He might be most vocal of all but why not? He is a journalist as he describes himself. He was not lucky to be on that position and be given the spotlight he highly deserved it.

Promoting bitcoin is not an easy job and if he do it for the benefit of us all, don’t make some harsh rhetoric about this and just make it a reference for your predictions.

peter0425

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Quote from: ivanpoldark on October 12, 2017, 04:49:38 AM

Quote

or i guess he is just pumping bitcoin for his own agenda.

Of course as a Bitcoin early adopter, Trace owns huge portfolio of different cryptocurrencies, with a basis of bitcoin of course. He is very interested in such bullish scenario, but his financial forecast does not include bear scenario, government bans and other negative factors, which of course will took place in the next four month. I would like it very much indeed, if he`s right.

If you have to look carefully, he is just promoting and pumping bitcoin. Although the market is very bullish even crossing the $5000 mark, it will not be sustainable. Others may see this as profit taking, so selling is a logical choice. There are so many tangible and intangible parameters that we need to account to, but I doubt that his forecast will come into fruition as much as we like it. Well good to see though that we have two opposite pushing and pulling the market. The bankers who are fell threaten and then the wealthy elite speculating what the future will be. In any case, this guy has made headlines so its a plus publicity for bitcoin ecosystem.

cr1776

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Quote from: Carlton Banks on October 12, 2017, 04:49:32 AM

I would question the methodology Meyer is using to extrapolate the price trend. I'm not an expert in market technical analysis, but even I know that moving averages are not an indicator of future prices at all. Maybe everyone is feeling confident about the $5000 mark being definitively crossed, but the volumes taking us there have not been exactly confidence inspiring to me.

And it would not suprise me if these (very optimistic) price outlooks we've been receiving are either notably interrupted or outright reversed instead. Don't get me wrong, I'm bullish long-term about Bitcoin, but the short-term isn't necessarily as obstacle free as the recent consensus suggests. Quite often, carefully doing the opposite of a widespread sentiment is the best investment decision (i.e. be greedy when all are afraid, and afraid when all are greedy).

You are probably right. But giving the number of doublings we’ve had since mid-2010, 1 or 2 more doesn’t seem that difficult. 😂

IAMYOURLEADER

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We can all see that he is just basically promoting bitcoin. Anyone can make a prediction but it should be supported by his reputation with his previous acts. But I must admit that every famous people on the net are doing a great job even just a prediction because it makes btc rise to the moon.

ivanpoldark

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Quote

or i guess he is just pumping bitcoin for his own agenda.

Of course as a Bitcoin early adopter, Trace owns huge portfolio of different cryptocurrencies, with a basis of bitcoin of course. He is very interested in such bullish scenario, but his financial forecast does not include bear scenario, government bans and other negative factors, which of course will took place in the next four month. I would like it very much indeed, if he`s right.

Carlton Banks

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I would question the methodology Meyer is using to extrapolate the price trend. I'm not an expert in market technical analysis, but even I know that moving averages are not an indicator of future prices at all. Maybe everyone is feeling confident about the $5000 mark being definitively crossed, but the volumes taking us there have not been exactly confidence inspiring to me.

And it would not suprise me if these (very optimistic) price outlooks we've been receiving are either notably interrupted or outright reversed instead. Don't get me wrong, I'm bullish long-term about Bitcoin, but the short-term isn't necessarily as obstacle free as the recent consensus suggests. Quite often, carefully doing the opposite of a widespread sentiment is the best investment decision (i.e. be greedy when all are afraid, and afraid when all are greedy).

rjbtc2017

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Quote from: Yaunfitda on October 12, 2017, 12:50:08 AM

Ultra-Rich Investor Trace Mayer Predicts Bitcoin Price Will Reach $27,395 in Just Four Months

Trace Mayer tweeted that he believes Bitcoin is currently undervalued, and that his target price for this coming February (only four months away) is $27,395 per Bitcoin. He bases this prediction on the steady increase of Bitcoin’s 200 day moving average. Mayer is extrapolating the rise of the 200 day moving average, assuming it will reach $5,767 by February. If this is the case, he asserts that a per-coin value of 4.75 times the moving average, or $27,395, would be a “fair” price.

Who is he?

Trace Mayer, J.D., was one of the “first popular bloggers to publicly recommend Blockchain technology” according to his website. At the time, Mayer recommended that his followers purchase Bitcoin, the price per coin was just $0.25.

Like most Bitcoin early adopters, Mayer is extremely wealthy, having recently challenged Roger Ver to a 25,000 BTC wager. There are very few people in the world with enough juice to make $121 mln bets. In addition to his early adoption and recommendation of Bitcoin, Mayer provided seed money for Kraken, BitPay, and Armory.

On his website, Mayer describes himself as:

“An entrepreneur, investor, journalist, monetary scientist and ardent defender of the freedom of speech. Trace Mayer holds degrees in accounting and law. He studied Austrian economics focusing on Murray Rothbard and Ludwig von Mises.”

Mayer has long been concerned with privacy and regulation, fearing that IRS action and AML/KYC laws could hamper growth and incentivize bad behavior.

https://cointelegraph.com/news/ultra-rich-investor-trace-mayer-predicts-bitcoin-price-will-reach-27395-in-just-four-months

The question here is , Will he invest or he is just making a noise here just to pump bitcoin? or i guess he is just pumping bitcoin for his own agenda. Anyway, if he really believes that bitcoin can reach in that value, why didn't he publicly say that he has bitcoins. For his record i don't think he is capable enough to say this kind of statement without even "BUYING" or "OWNING" bitcoin.

1Referee

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Another clown not being shy of expressing his thoughts on Bitcoin, while in reality it's nothing more than an attempt to gain himself a bit of attention in this market, which apparantly has worked out well for him looking at the article coverage. Don't get me wrong, I am in support of the bullish sentiment and the mildly exaggerated preditions that happen to come with it, but this is just insane. In order to test him out if he really stands behind his words, and knowing that he isn't shy of a bet, it would be a good idea to have him place an x number of coins in escrow for another bet. I am quite sure that he will *politely* decline that offer for whatever reason. Roll Eyes

Yaunfitda

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Ultra-Rich Investor Trace Mayer Predicts Bitcoin Price Will Reach $27,395 in Just Four Months

Trace Mayer tweeted that he believes Bitcoin is currently undervalued, and that his target price for this coming February (only four months away) is $27,395 per Bitcoin. He bases this prediction on the steady increase of Bitcoin’s 200 day moving average. Mayer is extrapolating the rise of the 200 day moving average, assuming it will reach $5,767 by February. If this is the case, he asserts that a per-coin value of 4.75 times the moving average, or $27,395, would be a “fair” price.

Who is he?

Trace Mayer, J.D., was one of the “first popular bloggers to publicly recommend Blockchain technology” according to his website. At the time, Mayer recommended that his followers purchase Bitcoin, the price per coin was just $0.25.

Like most Bitcoin early adopters, Mayer is extremely wealthy, having recently challenged Roger Ver to a 25,000 BTC wager. There are very few people in the world with enough juice to make $121 mln bets. In addition to his early adoption and recommendation of Bitcoin, Mayer provided seed money for Kraken, BitPay, and Armory.

On his website, Mayer describes himself as:

“An entrepreneur, investor, journalist, monetary scientist and ardent defender of the freedom of speech. Trace Mayer holds degrees in accounting and law. He studied Austrian economics focusing on Murray Rothbard and Ludwig von Mises.”

Mayer has long been concerned with privacy and regulation, fearing that IRS action and AML/KYC laws could hamper growth and incentivize bad behavior.

https://cointelegraph.com/news/ultra-rich-investor-trace-mayer-predicts-bitcoin-price-will-reach-27395-in-just-four-months

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