0
📰 News

Bitcoin Bulls Have a Say, Promising BTC Price to Surge in Short Term: from $20,000 to $1 Mln

  • 📰 News

    Despite the recent Bitcoin collapse, many still believe that the BTC price will soon go to the moon; here are some of the bravest forecasts made recently

Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

Last week, the Bitcoin price all of a sudden dropped by more than $1,000, losing around 10 percent and then another 5 by the end of the week.

At press time, BTC is sitting at $8,255 as opposed to trading slightly under $10,000 last Tuesday morning.

However, Bitcoin bulls are not putting their hands down and keep trying to persuade the community that this is just a slide before BTC goes to the moon.

Bitcoin Price 10/02/19
Image by Coinstats

John McAfee stands by his $1 mln forecast

Recently, the world-famous crypto bull and a US presidential candidate John McAfee confirmed his previously made prediction that by the end of 2020 the Bitcoin price will hit $1 mln.

German government-backed bank predicts $90,000 per BTC

BayernLB, a bank located in Munich, issued a report the other day. In the document, the research team says that the upcoming BTC halving has not been priced into the current Bitcoin price.

If the May 2020 stock-to-flow ratio for Bitcoin is factored into the model, a vertiginous price of around USD 90,000 emerges. This would imply that the forthcoming halving effect has hardly been priced into the current Bitcoin price of approximately USD 8,000 (the current model value is roughly USD 7,500).

Tim Draper: $250,000 could be a conservative prediction

Recently, the well-known investor and a Bitcoin supporter, billionaire Tim Draper, stated that his previous forecast in which BTC hits $250,000 by the end of 2022 is rather conservative.

$250,000 means that bitcoin would then have about a 5% market share of the currency world and I think that may be understating the power of bitcoin.

👉MUST READ

Ripple Could Be Doing Massive Rebranding While Community Argues about 1 Bln XRP Release from Escrow

Ripple Could Be Doing Massive Rebranding While Community Argues about 1 Bln XRP Release from Escrow

‘Crypto Godfather’ on Twitter: ‘Bitcoin will hit $20K and more again’

The most modest of these predictions was made by the ‘Crypto Godfather’ user on Twitter. He believes that Bitcoin will reach $20,000 and that the community needs patience.

Join our Telegram channel to get news even faster!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

This block is broken or missing. You may be missing content or you might need to enable the original module.
Recommended articles
0
📰 News

Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

  • 📰 News

    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

👉MUST READ

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

Subscribe to News.U.Today on Facebook, and get involved in all top daily cryptocurrency news, stories and price predictions!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

This block is broken or missing. You may be missing content or you might need to enable the original module.
Recommended articles