Catching Up with the Long-Term Bottom Price of Bitcoin – Stem Out Money LaunderingFebruary 27, 2019
Josh Rager, a crypto advisor stated, “What’s another 5% or 7% compared” when the market has declined already to great level in his analysis about what a further decline could mean in drawing the big picture.
Arriving at Bitcoin’s long-term bottom, past the key support levels is not viable at this point in time, while the long-awaited Bitcoin block reward reduction is all set to happen.
When commenting about catching up with the long-term bottom price of Bitcoin one of the cryptocurrency trader stated, it is “like trying to pick up a penny in front of a steamroller.” This is a great deal of risk for a potential return.
The capped supply of Bitcoin and the deflationary characteristics are likely to be Bullish in the long-term.
The enthusiastic trader also stated, “let bears enjoy a few extra percentage points.” This he reinstated to mean that short-term bearish trends should not affect long term “HODlers.”
Regardless of the current Bearish trend, analysts are of opinion that it is only going to be wise to “HODL” the crypto.
The Bitcoin price ranges are expected to fluctuate between $3,000 and $5,000. A massive price break is not expected in the next 3 to 5 years.
There are several fundamentals; however, that add to the positive effect for Bitcoin as a deflationary money.
Travis Kling in his recent reference to the Bitcoin stated, “There is a good chance of having something better than gold. It’s like a CDS against fiscal and monetary policy irresponsibility.”
There are several Fintech experts who are already fearing a repetition of the monetary situation like in 2008. Fears are mounting as to the low interest rates and high budget deficits which might eventually erode the value of the USD.
In the current economic scenario, CEO Mark Yusko the Morgan Creek founder stated, “We believe that Bitcoin will be one of, even if not the, largest network on the planet. We are in the middle of the greatest wealth opportunity, whcih is beyond our imaginations.”
Despite all, there are regular warnings about crypto day trading, because big players only enter in to the process considering the long-term investments.
With sanctions and interventions from dominant economies, citizens from different countries are looking at a global currency that is censorship resistant. In countries like Venezuela, the citizens are ignoring the government bans on crypto exchanges and trading of cryptocurrencies. By endorsing BTC as a reliable source to store value banks will be able to “stem out money laundering.”