From US $ 50,000 to US $ 2,800.00; Bitcoin's price forecasts fall as much as 95%.
In early 2018, when Bitcoin's price fell from $ 20,000 to $ 6,000 and rebounded to $ 11,000, most traders and investors were still highly optimistic about the short-term price movement of the main crypto-bull market.
Entrepreneurs and respected investors, including BitMex CEO Arthur Hayes, Anthony Pompliano, a Morgan Creek Digital partner, and Tom Lee, a Wall Street analyst, predicted that the BTC's price would exceed $ 50,000 by the end of 2018.
"I kept my $ 50,000 price target for Bitcoin by the end of 2018. I still have a lot of confidence in the $ 50,000 number. The deadline is the great unknown. The next five months will be fun to watch, "said Pompliano at the time.
While Hayes has stated that $ 20,000 to $ 50,000 is possible for the BTC, he acknowledged that a drop to $ 5,000 is also a possibility.
"SOMETHING THAT ARRIVES ABOUT $ 20,000 IN From US $ 50,000 to US $ 2,800.00; Bitcoin's price forecasts fall as much as 95%.
In early 2018, when Bitcoin's price fell from $ 20,000 to $ 6,000 and rebounded to $ 11,000, most traders and investors were still highly optimistic about the short-term price movement of the main crypto-bull market.
Entrepreneurs and respected investors, including BitMex CEO Arthur Hayes, Anthony Pompliano, a Morgan Creek Digital partner, and Tom Lee, a Wall Street analyst, predicted that the BTC's price would exceed $ 50,000 by the end of 2018.
"I kept my $ 50,000 price target for Bitcoin by the end of 2018. I still have a lot of confidence in the $ 50,000 number. The deadline is the great unknown. The next five months will be fun to watch, "said Pompliano at the time.
While Hayes has stated that $ 20,000 to $ 50,000 is possible for the BTC, he acknowledged that a drop to $ 5,000 is also a possibility.
ONE YEAR CAN HAVE A CORRECTION. WE COULD DEFINITELY FIND A FUND IN THE BAND OF $ 3,000 TO $ 5,000. BUT WE ARE ONLY A POSITIVE REGULATORY DECISION TO APPROVE A BITCOIN ETF BY THE SEC, PASSING FROM $ 20K AND UP TO $ 50K THROUGH THE END OF THE YEAR, "AFFIRMED HAYES.
Since then, Hayes, Pomp, Lee and Charlie Shrem have reworked their predictions due to the extent of the crypto-coin market correction.
In late August, Pomp stated that the BTC could fall to $ 3,000 before reaching $ 10,000.
"WE WILL PROBABLY SEE THE BITCOIN NEAR $ 3,000 BEFORE WE SEE THE BITCOIN FOR $ 10,000 AGAIN. IF THAT IS TRUE, THAT MEANS THAT WE STILL HAVE A PRICE REDUCTION OF MORE OR LESS 50%. THINGS CAN REALLY BE UGLY IF THAT HAPPENS. "
This week, Shrem shared Pomp's sentiment, stating that the BTC could drop to $ 2,800 in the near term.
Hard to predict market
Bitcoin is extremely difficult to predict, after all the crypto-coins market is still at an early stage. There is a wide range of variables, as can be seen by the sudden increase in Bitcoin's price on October 16, from $ 6,150 to $ 6,700, which can significantly and abruptly impact the market.
As Erik Voorhees, CEO of ShapeShift, said instead of formulating specific figures that are not supported by statistical or quantitative evidence, it is more practical and less risky to understand the macro trend and the psychology of investors in the market.
"I DO NOT THINK THAT COMES ABOUT SOON, THOUGH I THINK THAT THE FALLING RATE HAS HAD TO DECREASE PRETTY. GENERALLY, IN THOSE BUBBLES, AFTER GOING FOR VARIOUS MONTHS OF LOW TREND, YOU STAY AT A TIME FOR A TIME. BUT I THINK WE FINISHED WITH THE GREATEST PART OF THE FALL. "
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