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Bloomberg Contributor Expects Bitcoin to Witness “Much Bigger” Bull Market 

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    Jared Dillian claims the Bitcoin price could rise “significantly” if it achieves mainstream adoption   

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Bloomberg contributor Jared Dillian, who refers to himself as a “reformed crypto doubter,” has completely changed his stance on Bitcoin.

In his recent op-ed article, he claims that the top coin could experience another bull market, which will be much bigger compared to the 2017 bubble.

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Turning into a Bitcoin bull

Bitcoin’s appeal became evident for Dillian when he understood that there was a need for a stateless currency that cannot be printed by governments to fund their spending programs.

The US dollar has lost 96 percent of its purchasing power since the creation of the Federal Reserve, which recently cut interest rates for the first time in more than a decade.

Gold seems like an obvious answer for risk-averse investors who want to stay away from volatile assets, but Dillian writes that he simply likes Bitcoin more (sorry, Peter Schiff).

No government can ban Bitcoin or seize it. It is technologically impossible, without a piece of technology known as a quantum computer. It is the ideal way to move capital seamlessly and secretly around the globe at minimal cost.”

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A “much bigger” bull market

Dillian further touts the potential of Bitcoin by comparing it to the Internet, which also went through its short-lived bubble phase in the late 90s. Investors would throw money left and right at all dot-com start-ups, but only a few of them survived the big crash.

If Bitcoin finally breaks into the mainstream, its price could experience a significant increase. In fact, he predicts that the next bull market will be much bigger, and there will be no need to wait for decades in order to witness new highs.

I believe there will be another bull market, much larger than the first one where the potential is finally realized. Bitcoin is currently in a state of neglect.”

As reported by U.Today, CNBC’s long-time anchor Joe Kernen also compared Bitcoin to Amazon.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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

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    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.

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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.

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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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