Crypto Execs Expect Bitcoin (BTC) To Reach $9,600 By Year’s End, Why?

Crypto Execs Expect Bitcoin (BTC) To Reach $9,600 By Year’s End, Why?
фото показано с : ethereumworldnews.com

2019-5-22 03:50

Bitcoin Expected To Rise 22% By EOY 2019

Some crypto analysts may be calling for the moon, but some only expect Bitcoin (BTC) to reach $9,500 by year’s end, and not much higher than that. This is according to a recent poll/survey conducted by Finder, which was targeted at ten fintech “specialists” who are aware and knowledgeable about cryptocurrency and its ilk.

Predicted Bitcoin Price Action

Per the South China Morning Post, which managed to obtain the results of the poll, Bitcoin will end the year at $9,659, 22% higher than current levels, if the average of price predictions from the specialists is hit. These fintech gurus purportedly included executives from Arca, BitBull Capital, and unnamed academics. What’s interesting was the exact path they expect for BTC and other digital assets to follow as we head into the latter half of 2019. Most postulated that they expect a pullback in the coming weeks and months, prior to a slow and steady uptrend to just below $10,000 by year’s end.

They aren’t the first to have called for a healthy pullback. Josh Olszewicz, a leading technical analyst that frequently posts articles to Brave New Coin, suggests that the Ichimoku Cloud, a series of technical indicators meant to determine trends and key levels, is saying that Bitcoin is “insanely overbought”.

He goes on to add the Cloud is “calling for $6,150, looking to the fact that one of the indicator’s leading lines, which acts as support in bull runs and resistance in bear trends, sits at that price level. Olszewicz also notes that the Relative Strength Index (RSI) reading on the one-day chart is at 90, which is well overbought, hinting that a move lower may be inbound.

What Caused The Rally?

When asked about the recent catalysts behind the move from $4,200 to $8,000, or at least some of the intermediate moves higher, eight out of ten panelists agreed that the news released during Consensus Week was a primary catalyst behind the bullish price action. Five out of ten revealed that they, themselves, have been enticed to invest in a cryptocurrency like Bitcoin following the start of the U.S. and China trade war, confirming analysis that the recent BTC rally might also have something to do with it being a hedge in adverse geopolitical and macroeconomic environments.

So what pieces of news were the cryptocurrency panelists looking to other than the trade war? Well, according to the article, these include the news that Bakkt is finally going to launch its product in July, Whole Foods & Co. are accepting indirect crypto payments, and institutional players are delving into the cryptocurrency game at last.

They note that this news is likely to continue to entice investment in the space, resulting in a slow uptrend.

While $9,500 for each Bitcoin is not bad by any means, many cheery investors expect for the cryptocurrency market to head much higher than that price level by year’s end, especially considering the decidedly positive news cycle (save for ETF denials/delays of course).

Title Image Courtesy of Marco Verch Via Flickr

The post Crypto Execs Expect Bitcoin (BTC) To Reach $9,600 By Year’s End, Why? appeared first on Ethereum World News.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 69537.02 (-0.25%)
Объем 24H $28.889b
Изменеия 24h: 4.67 %, 7d: -2.68 %
Cегодня L: $66951.93 - H: $69960.2
Капитализация $1370.666b Rank 1
Цена в час новости $ 7935.37 (776.29%)

bitcoin year crypto reach btc expect execs

bitcoin year → Результатов: 126


Bitcoin is up in Argentinian Pesos over the last year, but natives should still avoid it

Key Takeaways Inflation in Argentina is now near 100%, as savings in the peso are getting crushed Bitcoin, despite collapsing in the last year, is up in peso terms Weak currencies are often cited as benefits of Bitcoin, but in the case of Argentina, it would be worse, writes our Analyst Dan Ashmore  Stablecoins present […] The post Bitcoin is up in Argentinian Pesos over the last year, but natives should still avoid it appeared first on CoinJournal.

2023-2-18 20:08


Фото:

Why Bitcoin Is Unlikely To Ever Experience Another March-Like 50% Price Drop

This year has undeniably turned out to be bitcoin’s year. Despite the coronavirus pandemonium, no asset class has served as a better hedge against inflation, an ideal safe haven than bitcoin. Moreover, the flagship cryptocurrency is the top-performing asset in terms of returns after bouncing back from the March coronavirus-induced crash.  One analyst is noting […]

2020-11-19 16:57


Фото:

A Panel of Experts See Bitcoin Averaging $12,948 by Year End

A panel of experts is predicting the price of bitcoin will rise to $10,337 by September before adding a further $2,611 to end the year at $12,948. The findings are drawn from a Finder Cryptocurrency Predictions Report for July 2020 and the latest figure is roughly $2,500 less than the price predicted in the April […] The post A Panel of Experts See Bitcoin Averaging $12,948 by Year End appeared first on Bitcoin News.

2020-7-15 00:30