Bitcoin Price Predictions, Uncovering the Real Crypto Market Drivers

Editor’s note: The price of Bitcoin has also broken the regular rise to $ 22.3k. This article is still a way to understand the psychology of bitcoin prices, especially in the bear market in 2019 when it was first published.

Bitcoin failed to enter the $ 10,000 market for the second week since hitting $ 8,000.

A team of crypto market analysts strongly believes that a merger of more than $ 10,000 will launch a major FOMO and boost the investment.

ThinkMarkets crypto market researcher Naeem Aslam is one of the promoters of this theory. Going by the newsletter sent to subscribers last week, it predicts that the actual FOMO will start after the bitcoin price hits the required price. According to the official, “The price of bitcoin is about to explode to $ 10,000, recovering half of its losses from its regular rise.”

He predicted that the most important thing would be within a week or two.

Fundstrat Global Advisors co-founder Thomas Lee also sponsors a $ 10,000 FOMO dispute. According to its definition, the key market value has been used for 3 per cent daily, meaning that it is time to change the main market, in which case, FOMO can trigger.

He explains that the $ 10,000 price is equivalent to BTCA $ 4,500 price tag in 2017 that paved the way for development. The run brought bitcoin to a regular peak of $ 19,500.

The price of Bitcoin stands at $ 8,499 at the time of printing. This is a loss of about 5 percent from its 12-month peak that came on May 30. Although the pro-bitcoin military was relatively small, it is certain that the $ 10,000 price tag is imminent.

Yes, there is a chance that bitcoin will sell between $ 7,000 and $ 9,000 for a while and it could take a whitewash to move BTC already $ 10k within the next few weeks.

Bitcoin To Remain Between $ 7,000 and $ 10,000 Price Threshold

Billionaire Mike Novogratz predicts that BTC will remain within $ 7,000 and $ 10,000 for a while but the constant excitement surrounding the recent rise could cause prices to rise sharply.

Speaking to Bloomberg, stressed that the key to a successful market plan include a new acceptance of new products by major Wall Street companies as well as an increase in blockchain operations.

He cited Facebook rumors crypto project and Microsoft blockchain-powered user identity software as popular apps that bring greater corporate trust.

Power that Guarantee Prices Directly

Whales Guarantee Short-Term Value

The early bitcoin market is still very volatile and difficult to move prices due to whales and players who can make millions of dollars by buying and selling orders.

The most recent price hike on April 2 led to a change from about $ 4,100 to $ 5,078.52 within 48 hours.

As explained by crypto industry researcher Willy Woo, the most recent price up to $ 8,000 was made mainly by market experts. This was done via a tweet showing the following results.

“The last big rise & loss was not natural. We have a blockchain that shows the movement of the capital. There was no one. It was a short cut of milk profits. This requires a lot of money to buy all bitcoin shortcuts. They are made by experts.”

Strategic Techniques Used To Change Markets In A Short Time

There are fears that algorithmic trading tools could be used to harass market forces. This is because they have the potential to make false orders on a large scale. This method, known as flash trading, is banned in government-sponsored markets because it gives the wrong impression of a price target.

The biggest problem the team is facing right now is that there are too few checks and balances so such procedures will continue.

Spraying and disposal systems are also common. It is designed to entice investors to buy certain items in the hope of a sharp rise in prices.

Long-Term Price Drivers

Halfing Article

Economists point to a reduction in the share as a key event that could raise the price of bitcoin to more than $ 20,000. This phenomenon reduces the availability of bitcoins in the market by adding to the mathematical complexity involved in BTC processing. This allows the remaining coins to increase and raise prices.

The next mid-term follow-up is expected to take place in May 2020 and will result in a reduction from wages of 12.5 per block to 6.25. This issue occurs every 210,000 blocks and currently, about 51,300 are left.

The BTC network protocol was designed to start at the price of 50 bitcoins rewards per block. This was the level when the network was created back in 2009. Halfing occurs after a number of blocks have been repaired. Today, about 17,733,563 coins have been mined.

Mining stands at 21 million depending on network hardcode parameters. The price of bitcoin is expected to rise steadily after this for a small reason.

Only about 3 million bitcoins are left and it is not known what the BTC rate will be in the next few years as demand increases sharply leading to higher prices and prices.

(Embedded Image Credit: Pixabay)

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