Bitcoin (BTC) is experiencing a massive price pump at present, giving cryptocurrency enthusiasts reasons to rejoice. Its recent price increase has boosted the faith of some silent crypto analysts to reiterate the assurance of BTC price moving forward.
Ran NeuNer, a renowned analyst sees Bitcoin reaching $50,000 hallmark sooner than later.
Bitcoin (BTC) first displayed its price surging strength on the 1st May, 2019. It continued to enjoy a favourable market condition for another 2 weeks, which saw it breaking $8000 resistance.
As Bitcoin was growing, it kept on impacting the price growth of other cryptocurrencies alike. The strength of Bitcoin due to its market dominance is quite reflecting on its contemporary digital currencies positively and negatively.
A host of crypto enthusiasts, investors and analysts expected the BTC to maintain its steady growth rate, but the reverse of their expectations came to play. The price of Bitcoin remained stagnant with no significant loss or gain.
Bitcoin critics got reasons to rejoice on 17th May, 2019, when it dropped down below $7000, losing about $1000 within 48 hours. In a matter of hours, BTC regained its price rising strength. This market value increase saw it to neither settle above nor below $8000.
The market situation exhibited by Bitcoin makes crypto analysts believe that it will either experience a sudden rise in price, breaking resistances or an abject price plummet, dropping far below expectation.
Bitcoin enthusiasts and investors were quite elated to see it breaking above $8,700 on May 26 in a very short interval. At the time of filing this report, Bitcoin is trading at $8,767.46 with 9.63% price increase in the last 24 hours.
Ran NeuNer Believes Bitcoin’s significant growth is unstoppable
The Host of CNBC Crypto Trader and founder of Onchain Capital/Advisory, Ran NeuNer, expressed his view about the growth of Bitcoin (BTC) especially this time that the value is very close to $9000.
NeuNer believes Bitcoin would still retest $7500, however, he’s sure Bitcoin would as well go as high as $50,000.
I have zero doubt that we will see BTC at $7500 again and at $50000.
— Ran NeuNer (@cryptomanran) May 27, 2019
John McAfee, Tom Lee, Time Draper and other had Earlier Made Likely Predictions
John McAfee, a popular Bitcoin capital investor, Thomas Lee, the Fundstrat Global co-founder and Tim Draper, the founder of Draper University are known for their distinct Bitcoin (BTC) price predictions.
McAfee predicted that 1 BTC will equal $1 million by the end the end of 2020, while Draper forecasted that Bitcoin will attain $250,000 by 2022.
Tom Lee did not state an actual price for BTC, but he assured that it will reach its All Time High by the end of 2020, stating some signs that initiated his prediction.
However, all these predictions are considerably possible if Bitcoin price can maintain its steady growth rate, even a significant bull run is not an overstatement, considering the time interval of these forecasts.
Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.