While the Bitcoin price continues to show heavy fluctuations, the factors behind it continue to be debated and delved upon. Be it the Bakkt launch, US-China trade wars, or spike in CME futures, there are several schools of thoughts when it comes to predicting Bitcoin price trends.
Paving Way for A Bitcoin Bull Market
When it comes to predicting Bitcoin price trends, be it the geopolitical warfare or pre-established dominance, several factors come into play. Founding Partner of Adamant Capital, Tuur Demeester recently tweeted that there is no such thing like a crypto bear market. Rather it is the case of a post ICO bubble bitcoin bull market.
A twitter user with handle Bitcoin Tina further alleged that Bitcoin is superlative, and has more value than that of Gold. More importantly, the risk-reward ratio with Bitcoin is incomparable and a bull market over the coming 2-4 years will surely be beyond imagination.
Another tweet seemed to support the stance and touted the analogy to be an apt one. The twitter user with the handle ‘ Bitcoin Badger’ compared the inventions of microchip, steam engine/turbine, the wheel, power grid to that of Bitcoin. He alleged that just like these inventions and their several use-cases, mass adoption will happen on the Bitcoin platform, which in turn will invariably lead to positive price trends for Bitcoin.
Difficult to Compete with Bitcoin’s Pre-established Dominance
Recently, a famous crypto trader, analyst, and Bitcoin investor, Willy Woo came up with an interesting case. He claims that, although Bitcoin’s technology is old, no other crypto asset has the potential to come close to the Lindy Effect that Bitcoin has established.
He further asserted that when it comes to an investor’s point of view, the key deciding factor is –utility. In order, to establish the Lindy Effect, greater liquidity and longevity is needed. More importantly, Bitcoin will continue to assert dominance owing to its pre-established market value and it will lead to a higher Bitcoin price and demand for Bitcoin.
Max Keiser’s $100 Bitcoin Price Prediction
Renowned crypto enthusiast, Max Keiser, recently made a $100k bitcoin price prediction, He further suggested cryptocurrencies, particularly Bitcoin, will take over the global economy as the world transits into a new era of “individual sovereignty.” While he maintains a bullish stance on Bitcoin, he believes that altcoins have plummeted and they will never revive from the shock.
Bitcoin Price Charts
Bitcoin is trading at $10,404, at press time, with a price decrease of 3.08% in the past 24 hours.
With Bitcoin price fluctuating it will be interesting to note that how does Bitcoin score in the tumultuous market. Will Bitcoin set an unprecedented high or fall drastically, let us know in the comments!