1 minute read
- Just because bitcoin is skyrocketing doesn’t mean the market is “overheating“
- It also doesn’t mean that we’re going to see a crash similar to December 2017.
The founder of quantum economics, Mati Greenspan said that the recent skyrocket in price from bitcoin did not necessarily mean that the market was “overheating“ and added that it doesn’t mean that a crash, similar to that of December 2017, was on the cards either.
“In our opinion, things are just getting started. We probably shouldn't be using any old yardsticks when it comes to determining what kinds of percentage gains are possible.”
He further added:
“Should demand continue to pick up from these levels and supply continue to constrain, there is a distinct possibility that we may see some days of 250% gains, or even more.”
Of course, the analyst accepted the fact that no one in the world would be able to predict when the flagship coin takes a dip. But he did go on to say that the price could be anywhere between $23,000 and $1 billion per coin.
As previously reported earlier today by Cryptodaily, this chief investment officer at Guggenheim partners, Scott Minerd said that the asset could be worth around $400,000 in an extremely bullish statement.
“Now that we're past the prior all-time highs, there are no levels left on the chart that might indicate where the price might eventually top out. It will top out at some point though. You can be sure of that.”
Catherine Coley, the Chief Executive Officer of the United States arm of Binance, Binance.US has said that she also sees the continued run of bitcoin to be evidence of sustained growth.
“When the Fed and other governing agencies across the world are seemingly OK with the effects of inflation on fiat currencies, we’ll continue to see the diversification thesis into BTC surge, with price breaking through key technical levels.”
© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.