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

  • Yuri Molchan
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    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

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

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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.

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‘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.

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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.

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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
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    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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