Bitcoin will never set a new record for the cost — sure of the Bloomberg analyst Mike McGlone. In a recent interview, the expert said that the main cryptocurrency will be infinitely traded in the range of from 8 to 20 thousand dollars. The scope is quite wide, however, McGlone has made it clear that investors should not rely on exorbitant profits and Bitcoin for a million dollars.
At the moment the coin is trading at 10 158 dollars. For the past day, its price rose 0.47 percent. Now the share of BTC in the total capitalization of all cryptocurrencies exceeds 68 percent.
The year will not be
Bitcoin is often called the digital equivalent of gold and the best way to preserve their capital. McGlone noted that this attitude towards bitcoin does not encourage people to trade it, since many prefer to just keep the bitcoins to a cold wallet in the hope it is very profitable to sell them in a few years.
With the launch of Bakkt even large investors will have the opportunity to safely invest in the coin. According to experts, the launch platform for Bitcoin futures generally discourage all desire is often to exchange cryptocurrency. McGlone makes a bet that the price of Bitcoin for a very long time “sandwiched” between lines 8 and 20 thousand dollars.
Note that the arguments of the expert rather dubious. If he says that in the future Bitcoin will buy and keep, not this will cause the growth of cryptocurrencies? Attracting new investors with Bakkt also should have a positive impact on the number of commercial transactions, as the new platform will give a boost to the rising popularity of BTC among traders and enthusiasts.
The point of view of McGlone does not support co-founder of Fundstrat Tom Lee. He expects a rise in price of Bitcoin down to 40 thousand dollars in the next few months. Billionaire Tim Draper does have a very optimistic Outlook for the future.
After a few years, five percent of all the wealth on Earth will be in Bitcoins. This is the best currency, it is decentralized, open and transparent. Each person will be able to monitor global financial flows in the blockchain.
One of the first investors in Uber recently posted in his Twitter an interesting idea. He believes that innovation in Finance will not stop Bitcoin, and cryptocurrency will even be replaced by new better technology. But the price of BTC it will reflect very negatively — it will fall at least to $ 500. Here tweet.
My position remains the same. #Bitcoin will likely be replaced by a new technology & it’s manipulated
It’s possible it’s built to last, but not probable, so keep your position to an amount you’re willing to loose
For most, that’s 1-5% of net worth
It will likely go to 0-$500. https://t.co/8Bs4PGmiN5
— [email protected] (@Jason) May 27, 2019
Statement analysts commented Grigory Pasechnik, chief editor of 2Биткоина.
Any forecast of exchange rate of Bitcoin with precise marking of borders is an attempt to draw attention to himself. The reality however is such that neither Warren Buffett or Jimmy Buffett (as in “the Wolf of wall street”, remember?) don’t know where will go the price of the asset. The cryptocurrency is even more applicable, because of their sharp jerks have all been accustomed to.
Recall the recent statement Canina Zhao, the founder of the largest Binance. The second of August he recommended to hit yourself everyone who sell Bitcoin cheaper than 10 thousand dollars. So he kind of hinted that more the coin will not fall below this level. We saw the fifteenth of August? 9685 dollars per BTC. Even this morning the rate was below ten. So whether Bitcoin is forever sandwiched between 8 and 20 thousand dollars? I don’t know. Same as everyone else.
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