Published
3 years ago on
May 19, 2020
- Tuur Demeester has said that he can’t see the leading crypto dropping below the $6000 mark following it having earlier this month.
- Furthermore, he adds that the price of bitcoin could even reach $50,000 saying that it is certainly possible for the future.
One well-known figure and research analyst within the crypto space, Tuur Demeester has said that he can’t see the leading cryptocurrency dropping below the $6000 mark following it having earlier this month. Furthermore, he adds that the price of bitcoin could even reach $50,000 saying that it is certainly possible for the future.
Speaking in a YouTube video for space earlier this week on the 18th of May, the researcher said that bitcoin was back in its bull market following the event last week. He added that the bottom was between $3000 and $4000 in regards to the crash in March of the crypto market.
He further went on to say that the recent inflation measures put in place by the federal reserve in the United States could have a big impact on the price of crypto.
Even though he is concerned that a potential low buying power of the United States dollar could have an impact on a valuable bitcoin price, Demeester predicted that BTC hitting $50,000 is not insane at all.
Taking to Twitter to share more of his views on bitcoin and crypto, he said that if institutions and whales are able to accumulate enough, another rally could potentially be ignited.
12 months ago bitcoin broke out of its accumulation phase, and re-accumulation started. A break out of this band will likely ignite another parabolic rally. https://t.co/uGbpqYs5s8 pic.twitter.com/T1jDZMeiNV
— Tuur Demeester (@TuurDemeester) May 18, 2020
It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!
