Bitcoin price close to $6999$ analysts are good-hearted
The current Bitcoin price is around $7,230, so it has risen by 2.98% in the last 24 hours. However, if we take the whole week into account, BTC is still on the considerable minus, which is as much as 14.76%.
What has been the situation with Bitcoin recently?
In the last few days the price of Bitcoin has not been very interesting, and he has been deducting drops since the end of October. However, weekly fluctuations were not great when the day before yesterday the price of the oldest of the cryptocurrency fell below $8,000.
Recent days have shown that the cryptocurrency market is still very susceptible to panic. Many people immediately lost confidence in Bitcoin and started to sell it. For a short moment yesterday, the BTC fell even below $7,000, but then most investors apparently came to their senses, as the exchange rate quickly went above that limit.
Forecasting BTC price behaviour
What do investors think about Bitcoin’s future? What do analysts and observers think? Can the last fluctuations mean the end of the king cryptocurrencies?
Peter Brand says optimistically or even brazenly that before the BTC starts approaching the level of USD 50,000 announced by many optimists, it has to react. At the same time, he notes quite realistically that many people perceive the downward price fluctuation as a tragedy when in reality it is a natural phenomenon for all asset prices. He believes that there are still too many investors in the market who think that the day after buying a BTC they will become millionaires or at least they will be able to afford the luxury of a Lamborghini type. However, this reasoning has nothing to do with investing in anything.
Will the Bitcoin price hit $10,000 in 2019?
Thomas Lee from Fundstrant spoke in a similar calming tone, reminding the community not to panic about every short-term correction of Bitcoin’s price, but to focus on the broad picture of the dominant cryptocurrencies. This approach was also supported by Tuur Demester, who suggests looking at a parable that began in 2015 and which, despite various turbulences, remains intact according to him.
How do other cryptocurrencies behave when the Bitcoin price drops?
Charles Hoskinson, founder of Cardano (ADA), spoke even more optimistically or excessively optimistically about the recent events at the BTC course. He believes that soon Bitcoin will be at a level higher than $10,000 and that this will mean that he will march towards $100,000 per Bitcoin. He added that the cryptocurrency, especially the oldest crypto in the world, is much more than just a speculative object. Moreover, he believes that the recent decline in Bitcoin’s price was caused intentionally by the FUD and manipulation to cause falls so that someone could buy BTC cheaper. His speech ended with a statement that cryptocurrencies are no longer unstoppable.
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