Bitcoin News
By Dan Saada
1 / 15
The price of the Bitcoin is set to see a more profound drop if the trend line support is breached at $10,120.
2 / 15
Tim Drapers has predicted that the Bitcoin will experience some huge gains over the next four years. The cryptocurrency is expected to grow more than 25 fold by 2023.
3 / 15
Previously Tim Draper predicted that Bitcoin would reach $250,000. This is the prediction he did when Bitcoin was worth nearly $5,000 in the year 2018.
4 / 15
Bitcoin has been trading above $10,000 with a resurgence, and therefore Draper states that his prediction will eventually come true.
5 / 15
Mr. Draper stated, “$250,000 means that Bitcoin would then have about a 5 percent market share of the currency world, and I think that maybe understating the power of Bitcoin.”
6 / 15
As people realize that their fiat will depreciate, they will decide to use Bitcoin. Of note, Draper has invested in companies like Twitch, Tesla, and Skype.
7 / 15
Draper has been an outspoken advocate for cryptocurrency and has been claiming that it represents the future of money.
8 / 15
The market projection of Bitcoin price by several other analysts have been modest, and they have predicted that the cost of the token will increase.
9 / 15
Nigel Green, CEO of DeVere Group, stated, “Bitcoin is likely to break out of its recent sideways trading pattern and be given a healthy boost by the Fed’s rate cut.”
10 / 15
Green opines that the interest rate cut will reduce the incentive of keeping the fiat currency.
11 / 15
The geopolitical stability, according to Green, would see Bitcoin touch $15,000. During times of uncertainty, the Bitcoin is serving as a flight to safety.
12 / 15
The outcome of the Brexit crisis is unpredictable in the UK and Europe. Green had forecasted interest rate cuts, and he further stated that “Cryptocurrencies will continue…
13 / 15
Several other industry figures have been predicting short-term gains for the cryptocurrencies.
14 / 15
Rates cuts have a major role to play when it comes to inflation. When the Federal rate cuts happen, the FX markets are expected to dump the USD.
15 / 15
A break below $10,120 would add strength to the bearish grip, and it will lead to a more profound drop to $9,855.
The Currency Analytics
Want the full story?