On March 11, the much awaited Winklevoss twins Bitcoin ETF decision will finally be announced by the SEC. South African serial Internet entrepreneur Vinny Lingham posted on Twitter that within 48-hours of the ETF announcement, on the downside, the Bitcoin price will be $850. However, he holds Bitcoin price will be $1,750 maximum (probably $1,500) on the upside.
With just a day for the SEC to make an announcement on the Bitcoin ETF, the community is divided between whether it will pass or not. Experts and analysts including Lingham perceive the chances of either decision as 50/50. On Wednesday Cointelegraph reported that so far 72 percent of the public are in favor of the ETF.
Lingham's accurate predictions
When it comes to forecasting Bitcoin price, Lingham has a distinguished reputation and is famously known for accurately predicting Bitcoin price adjustments. He is very shrewd with factors that hold it up, sideways and down, and outside events changing the supply/demand curve for Bitcoin.
In 2013, before Bitcoin reached its first ever all-time high price, the African entrepreneur prognosticated it would reach over $1,000. Truly, the community saw Bitcoin rising to $1,255.
Also, in the first quarter of 2016, Lingham predicted the $400 mark for at least the next quarter when the price was hovering around $100. This once again came to pass.
Fast forward to Dec. 11, 2016, he foretold that if the price exceeded the $800 mark, it will go straight to $900, and interestingly by Dec. 23 Bitcoin was being sold at $911.
In addition, Lingham tweeted in November 2016 that the demonetization in India would push the price up to $1,000 by the end of the year. Just as he articulated, the price reached $1,000 on New Year's Eve.
In early January this year, when there were fears, uncertainty and doubts concerning a Bitcoin bubble, the Civic CEO boldly told Cointelegraph that there won't be a bubble unless price grows over $2,000 by March.
After this analysis, he again said Bitcoin price would resist the $1,300 mark. Obviously, the community has witnessed how, for the past month, Bitcoin has been struggling to reach that mark without succeeding.
Nevertheless, we are now witnessing one more prediction from the Cape Town boy who sojourns in California. This is the $3,000 per Bitcoin he believes will come to light by the end of 2017.
ETF and Bitcoin price
The plot is thickening, as we are left with just a day to know the outcome of the ETF that many experts believe will significantly affect the Bitcoin price if passed. When Cointelegraph asked the legend concerning the Bitcoin price prediction and what informed his current analysis based on the ETF announcement, he simply said it was just his gut.
The euphoria, uncertainty and fear surrounding this transit have never before been witnessed in the community. March 11, 2017, will definitely be one of the landmarks in the history of Bitcoin.
Cointelegraph, therefore, wishes the community all the best.