Bitcoin Is Still In A Bull Market And Will Reach $200,000 – $300,000

Bitcoin by Sal Miah  | 1 week ago
Bitcoin, BTC
2 min read

Those are the incredibly optimistic predictions of one individual trader.

Twitter user, The Moon, is making a very bold claim on the future of Bitcoin. A price prediction of $200,000-$300,000 may as well be the result of hopium. Nonetheless, this is Bitcoin. It operates in a unique trading space where the unlikely is sometimes the result.

 

Conversely, breaking $7,700 seems like a possibility considering the downward trend experienced in the markets lately. Bitcoin currently sits just under $8,300. A $600 loss can be realized within hours of trading in the cryptocurrency market. Anything is possible with Bitcoin.

The past week saw Bitcoin lose $2,000 in value in less than 24hrs. There was a slight price correction before it stabilized at $8,400.

Given the history of Bitcoin, breaking $7,700 seems like the most reasonable answer. Some market uncertainties are likely to play a part in this.

However, breaking $7,700 may not necessarily lead to a bearish market. The dump recently experienced is like that of 2018. Breaking $7,700 may be the long-awaited low before Bitcoin soars.

Hopium On Extreme Levels?

@meostatic gives a very sobering reply to The Moon. $20,000 by the end of 2020 seems realistic, well-thought-out and possible. It looks like the right prediction.

There is still the possibility that we may get to $20,000 on our way to $200,000+.

Some agree with the $200,000 prediction, and because this is Bitcoin, there is always the chance that traders may wake one day to a $200,000 Bitcoin.

With the looming financial crisis and unpredictable markets, Bitcoin may rise as the haven, or it may fall together with other centralized assets.

 

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