As you get closer to the price in 11 thousand dollars Bitcoin will survive another peak, and then go into a bear market. Such forecast was made by an expert in the cryptocurrency industry James Todaro. Managing partner of Blockchain Capital condemns the habit of cryptocratic to compare the Bitcoin with the Tulip mania and I am sure that the cryptocurrency is not to get rid of this label with any price increase.
20 June, Todaro uploaded to Twitter fresh chart, which shows that Bitcoin has much less the characteristics of a “bubble” compared to the Tulip mania.
People like to compare Tulip mania with only the most recent cycle of Bitcoin and ignore the previous 10 years of growth.
Drop BTC to a record high in December 2017, still nourishes many skeptics. They still believe in the inability of the largest cryptocurrency to recover from the fall. However, only since April this year, BTC has grown 150 per cent against the dollar. However, Todaro notes that at the end of the current bull market, analysts will once again take to condemn Bitcoin for the fall, completely ignoring growth. So already in 2017-2018.
I guarantee that when the next cycle of criticism of Bitcoin forgets about the explosive growth of cryptorhynchus 2017.
How expensive Bitcoin?
Analysts hold mixed opinions regarding the short term prospects of Bitcoin. As reported on Bitcoinist, the public mood is formed around the potential buyers covered by the FOMO effect. Theoretically, this should happen after overcoming the mark of 10 thousand dollars. In fact this is already happening, as in less than a few hours, BTC has risen to 11, $ 100.
Thus according to the most optimistic forecast, Tom Lee of Fundstrat Global Advisors, by the end of 2019 coin can rise to 40 thousand dollars. A similar theory about the future trajectory holds Bitcoin billionaire Tyler Winklevoss. He has repeatedly said that the tipping point for BTC will happen after overcoming the mark of 10 thousand dollars.
But so far none of the bulls does not undertake to predict the correction after the next bullrun — like situation in the beginning of 2018. Studies show that the current bull market has little to do with 2017 and much more — with the uptrend in 2012. At the same time, as noted supporters of Bitcoin, is now the fundamental value of the coins is much higher.
There are more bullish forecasts, including investor Tim Draper, who believes in Bitcoin for 250 thousand dollars already by 2022. In turn, the CEO of Twitter and payment apps Square Jack Dorsey said that Bitcoin in the next ten years needs to become the global Internet currency.
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