Published on October 12th, 2017 | by bitcoin0
Bitcoin predicted to reach $27395 in 4 months per super rich investor Trace Mayer
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.
Mayer is extrapolating the rise of the 200 day moving average, assuming it will reach $5,767 by February.
At the time, Mayer recommended that his followers purchase Bitcoin, the price per coin was just $0.25.
Because the 200 day moving average is weighted with such old price data, in a bull market it lags significantly behind the current price.
Mayer is predicting that the 200 day moving average will continue to rise, and that Bitcoin will remain a reasonable level above the measure.