It seems to be a complex situation that has been pervasive to the crypto prices downside. At present, crypto market cap stands at $224 billion meanwhile the 24-hour trading value has been increased. Although, the increase in trading volume couldn’t stop cryptocurrency prices from the loss of record.
In these recent days, Bitcoin price was almost nearer to the mark of $7000, then again plunged to its current value of $6,411.42.
Will bitcoin recover?
It seems difficult for every investor to predict as well as to react for the recent issues. Since last month and within two weeks of period, bitcoin price has fell from the mark of $8300 to $6350. However, since January, the price of Bitcoin has been moving between the marks of $6000 to $10,000.
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On the note, yet another reason for the drop in the Bitcoin price has always been effected by an vital crypto related news or an event. Meantime, it also effected while Winklevoss Bitcoin ETF or the VanEck ETF had disapprove their decision.
Bitcoin Price Predictions
Although, the Bitcoin price is heading towards the green for the weekend. Several, bitcoin investors and experts like Thomas Lee and Tim Draper have been predicting on price. FundStrat Global Advisor co-founder Tom Lee last month put the forecast at between $20,000 and $55,000 by 2022.
One-half of the famous twins, Cameron Winklevoss said that Bitcoin will hit over $5 trillion i.e. 40 times more its current value.
Cameron Winklevoss told CNBC:
“making bitcoin in isolation … we believe bitcoin disrupts gold. We think it’s a better gold if you look at the properties of money. And what makes gold? Scarcity. Bitcoin is actually fixed in supply so it’s better than scarce … it’s more portable, its fungible, it’s more durable. It’s sort of equals a better gold across the board”.
The CEO and Founder of digital assets investment fund BKCM LLC, Brian Kelly predict that Bitcoin could attain $25000, a new high by this year. Kelly said in an interview with CNBC.
Also, the prominent crypto advisor John McAfee predicted another bullish run of Bitcoin. He has constantly voiced confidence in crypto’s eventual accomplishments from his tweets. On July 18, 2018 McAfee said that bitcoin’s recent uptick is an indication to set an upcoming trends.
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