Bitcoin’s Halving Helped BTC Price Surge This Year, Says Gold Bug Frank Holmes. Francisco Memoria; 9 Dec / In #Bitcoin; Gold bug Frank Holmes, CEO and chief investment officer at U.S. Global Investors, has revealed he believes Bitcoin’s halving event has helped the price of the flagship cryptocurrency surge this year, as demand was. Apr 17, · Smartereum Bitcoin price prediction for , , , , An author at crypto news site Smartereum noted that, unless Bitcoin bulls could push the price over $7, in April, a downtrend would follow and that BTC would likely be stuck under $7, for the rest of Even after Bitcoin has lost its undisputed dominance, it remains the largest cryptocurrency, with a market capitalization that fluctuated between $$ billion in , owing in large part to the ubiquitousness of platforms that provide use-cases for BTC: wallets, exchanges, payment services, online games and .
2020 btc priceBitcoin Price Prediction Pompliano Says BTC Is on Way to Hit $K
Not only that, they also believe that in the near future, crypto offerings like Bitcoin futures, stablecoins such as Tether will also take off in a big way.
However, only time will tell whether this prediction will come true or not. However, in his books, Bitcoin is a much better long term investment option than gold. While most traditional financial institutions have regularly slagged off cryptocurrencies as being fads, the analysis team over at Citibank believes that big things lay in store for the flagship crypto in the coming few years.
Furthermore, Citibank's trust in crypto and blockchain tech is highlighted by the fact that the global financial organization currently holds a massive stake in BTC. Not only that, the bank has also invested in various crypto startups including Komgo — a firm with which Citibank has integrated its native trading platform. While optimistic price predictions in regard to BTC have flooded the internet in recent months, prominent cryptocurrency analyst Ki-Young Ju released a tweeted on July 26 claiming that BTC's recent upward surge has been a bit too quick and that in the coming months we could see more and more whales cash out on their crypto holdings — thus leading BTC as well as other prominent altcoins to drop in value.
In this regard, it bears mentioning that as per an email sent to Forbes earlier this year by Panxora CEO Gavin Smith, he claims that will continue to remain a highly volatile year for BTC. That being said, Smith is fairly confident that by , the aforementioned scenario will change quite drastically, with many cryptocurrencies starting to approach their all time high values.
He was quoted as saying:. From a technical standpoint, it bears mentioning that the S2F model leans heavily on halving-related events and proposes that demand for BTC is bound to keep increasing if supply keeps on dropping. That being said, it is extremely important to note that the bullish outlook portrayed by the S2F model is highly dependent on the "demand-scarcity' outlook and that the crypto market has traditionally been affected by a number of other peripheral economic markers as well.
Even though a whole host of crypto analysts have criticized the Elliot Wave Theory for being too biased and dependent on crowd psychology, there are many prominent economists who firmly believe that the theory is an excellent way to determine how the currency's future market cycles will play out. However, the finance team over at TradingBeast did acknowledge that during the latter half of , the crypto market as a whole could potentially be on the receiving end of some bullish action which could help spur the value of many prominent cryptocurrencies in an upward direction.
As per the analysis team over at FX Street, BTC's price can potentially surge to unfathomable levels by the end of One of the most outlandish price predictions to come out in recent times for Bitcoin has been from Chamath Palihapitiya, the co-owner of the NBA dynasty Golden State Warriors.
He is also the founder of Social Capital, a firm through which he has invested quite heavily into cryptocurrencies especially Bitcoin. That being said, Palihapitiya's optimism might be stemming from the fact that he owns such a massive amount of crypto.
However, last year he backtracked on his word and claimed that his prediction was a bit far fetched. Infact, in recent interviews, McAfee has once again doubled down on his optimism regarding crypto, claiming that a single bitcoin could become worth in the next year or two. The Winklevoss twins, who are probably best known for being one of the earliest stakeholders in Facebook, are currently the driving force behind popular crypto exchange Gemini. Their prediction is based on the notion that Bitcoin has the potential to rise by over times since it makes use of a deflationary finance model.
Early last year when prominent crypto trader Mike Novogratz was asked about Bitcoin's future monetary prospects, he predicted that the currency could quite easily surpass gold's market cap within the next 10 to 20 years. Furthermore, he also believes that as crypto tech becomes increasingly popular, more and more people will start to make use of BTC and its associated offerings.
In the past, Fundstrat's Tom Lee has made a number of outlandish predictions regarding the price of BTC, many of whom have fallen flat on their face.
Banker and prominent financial analyst Kay Van Peterson has been making a lot of news these days , primarily for his extremely bullish outlook in regard to Bitcoin.
That being said, it is worth pointing out that Kay made this prediction all the way back in a time when the crypto market as a whole was surging. Slow and steady wins the race. Well, predicting Bitcoin price has always been a dicey game for analysts considering its volatile behavior. Zhao also explained that anything above the previous high could be the new ATH.
However, he is expecting predictions before the BTC price will retrace like the last time. Bitcoin price jump since the beginning of is the outcome of several reasons. Initially, the escalating tensions between the U. Later on, the coronavirus outbreak in China is another reason giving the BTC price a major push ahead. Overall, the optimism surrounding Bitcoin seems high at this point which is likely to trigger northward momentum from the existing levels.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.