Bitcoin News Today – The past few weeks have been quite volatile for the king of the cryptocurrency jungle. Like a swashbuckler fencing, the BTC has bounced back and forth as the price of the BTC dipped and soared. Cryptocurrency analysts, researchers, and traders were kept in a perpetual state of tension as BTC price prediction flew back and forth. Some predictions foresaw the doom of Bitcoin and the entire cryptocurrency market as a whole while others saw the price of the BTC skyrocketing to heights beyond imagination.
Bitcoin News Today – Bitcoin Price Prediction – Bitcoin Latest Update – Cryptocurrency News Today – Bitcoin To Hit $100,000?
Bitcoin news today learned that one such analyst, Murad Mahmudov, formerly of Goldman Sachs, believes that the BTC would reach a whopping $100,000 in price value. Murad wrote on twitter that though the BTC looked like it was going into a bearish trend in the next few weeks, he believed that the Bitcoin was only gearing up for a major surge that would see the BTC soaring to the unimaginable level of $100,000 price value.
Murad went further to say that after analyzing data showing the BTC support level, the small moving average, exponential moving average, the relative strength indicator, and the weekly support, he gave a BTC price prediction of $10,800 as the stable level for the BTC. Murad also advised cryptocurrency traders and enthusiasts to be patient and slowly add to their tokens at the key support levels.
Murad Mahmudov’s outlandish Bitcoin price prediction of $100,000 was echoed by another cryptocurrency analyst, Anthony Pompliano of Morgan Creek Digital Assets who analysed that the present downslide of macroeconomic institutions like banks and financial bodies would be the platform that would shoot up the price of Bitcoin and help it achieve the $100,000 price value by 2021. Pompliano also believed that Bitcoin’s halving event coming up in 2020 would also act as a catalyst to boost the price of the BTC.
Bitcoin News Today – Bitcoin Price Prediction 2019 – Bitcoin Latest Update – Bitcoin Halving Event May Be A Windfall For The Coin
Bitcoin’s upcoming halving event is seen by analysts as a major push in the BTC price prediction of $100,000. The halving event is when the block reward for mining is reduced by half. There have been two previous halving events that have brought the block reward value to $12.50. The upcoming halving event is expected to bring the block reward value to $6.25. There are speculations and predictions that the halving event could drive miners and interested traders from mining Bitcoin, thereby reducing the value of the BTC. Others believe that the halving event would be the catalyst that propels the coin to the sky. They believe this would occur as the halving event would create a scarcity of the BTC.
Bitcoin (BTC) Price Today – BTC / USD
The current value of the BTC is $10,898, which is a far cry from the predicted lofty height of $100,000. History has shown that Bitcoin has always proven to be a sure winner to bet on. The number one ranked cryptocurrency coin is presently one of the few coins that are still reaping profits in this stormy condition that the cryptocurrency market finds itself. The $100,000 target may not be too farfetched for this wonder coin.
What do you think about the Bitcoin price prediction? Will BTC hit $100,000 eventually? Share your thoughts in the comment section below.
Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.