The cryptocurrency market has seen a tremendous addition in the last 24 hours, with Bitcoin jumping from $5,300 to over $5,500 in a very short time.
This has increased optimism that Bitcoin could jump to $50K before the year end. However, Veteran cryptocurrency expert who predicted the 85% Bitcoin (BTC) price decline of 2018 has revealed it is uncertain Bitcoin (BTC) will go to $50K.
As contained in a survey by Adaptive Capital and On-chain analyst Willy Woo, Peter Brandt uncertainty emphasis came as a neutral prediction in the face of increasing expert prophesies that the price of Bitcoin would touch $50,000 before December.
Willy Woo, who surveyed different respected cryptocurrency traders, analysts and influencers, inferred that Peter Brandt is 50% sure Bitcoin (BTC) will go to $50,000.
Peter Brandt prediction: “50% chance BTC goes to $50k. 25% chance we establish a very prolonged broad trading range for several years. 25% chance we go to basically zero. Thanks to all that participated”.
Meanwhile, Willy from the survey, presented more results on whether “the bottom is in for this bear market”.
Here are the results of the survey:
Willy Woo: 95%
Kraken Founder Jesse Powel: 90
Arjun Balaji: 90%
CEO Galaxy Digital Micheal Novogratz: 85%
However, Jesse said Bitcoin has still not bottom, adding that BTC price can go back to zero.
I surveyed notable influencers, analysts and traders for their probability that the bottom is in for this bear market. Here are the results:
— Willy Woo (@woonomic) April 22, 2019
Earlier, Peter Brandt had said Bitcoin is within the brink of a parabolic bull run, pointing that this bull run will be greater than the 2017 all-time high of $20,000.
He said in a conversation with Yahoo Finance:
“I believe that what’s happened from December of 2017 through December of 2018 is really an analogue to what happened in the 2013 to 2015 bear market, where we saw a sequential 10 up and down move in the bear market. And we’ve almost identically formed that same sort of pattern. After the 2015 low in Bitcoin (BTC), we saw the market then developed into a parabolic advance. And so, I think the analogues are holding remarkably well, and based on those analogue studies I think cryptos now will go back into a parabolic bull market. The only question I have is do we rally here some, and then sometime in late summer, check the late 2018 lows or not. I mean, there’s a chance it does and there’s a chance it doesn’t.”
As crypto lovers rejoice over the increasing price of Bitcoin (BTC), do you think Bitcoin has bottomed?