Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
Billionaire J. Gundlach believes Bitcoin could drop to USD $10,000 and explains why. Meanwhile, Bloomberg analyst Mike McGlone projects a price of $100,000 in 2025.
- Gundlach believes Bitcoin could drop to USD $10,000
- Billionaire said the crypto trend was not positive
- He argues that, after the fall, it should recover.
- Analyst McGlone projects it will cost USD $100,000 by 2025
As if in a string of bad predictions, several billionaires have recently spoken out about their concerns about the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. ecosystem, especially if Bitcoin continues to fall.
For example, this week it made headlines when personal finance expert Robert Kiyosaki, who has been recommending for at least two years that you buy Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. said that the main cryptocurrency was no longer a solution to the crisis and that the best thing to do was to buy cans of tuna fish. . For his part, the former CEO of BitMEX, Arthur Hayes, with irony said that si Bitcoin fell over US $10,000 we’d better pray to “Lord Satoshi”.
Now it’s the turn of the billionaire CEO of DoubleLine Capital, Jeffrey Gundlach, who is skeptical that the current price will hold and said it could go as high as $10,000.
It is worth remembering that Gundlach had a bad opinion of BTC, but in 2020 he changed his position, recognizing that could be a hedge against inflation a general increase in prices and fall in the purchasing value of money. . Before that, he had called it a lie and that he preferred to invest investing is when you put money in a financial scheme with the intent of making a gain. in things he could put in the trunk of his car, like a painting.
Falling and then rising from the ashes
Gundlach said in an interview with CNBC yesterday who believes that Bitcoin could fall well below the $20,000 mark, stopping at no more than $10,000.
When asked by the host about his prediction of how low Bitcoin could fall, Gundlach explained:
“The trend in crypto is clearly not positive. It went out a long a situation where you buy a cryptocurrency with the expectation of selling it at a higher price for profit later. time ago. In July last year, Bitcoin rose to USD $60,000 or so, then fell to $30,000.
The billionaire added:
“Ultimately, it will crash and then it should recover, but it’s still running, it looks like it’s liquidating. So I’m not bullish on USD $20,000 or $21,000 in Bitcoin. I wouldn’t be surprised at all if it went to $10,000.”
You can watch the video here:
Another position: towards USD $100,000
The medium Finbold shares a different position: that of the senior commodity strategist ofBloomberg IntelligenceMike McGlone, who said he expected $20,000 would be the new fund for Bitcoin. Dijo:
“USD $20,000 per Bitcoin may be the new USD $5,000. The fundamental early-day case for global Bitcoin adoption versus declining supply may prevail as the price approaches typically too-cool levels. It makes sense that one of the best performing assets in history would decline in 1H.”
However, he believes that the asset would recover to emerge as a critical investment product, and expects it to reach USD $100,000 by 2025.
Meanwhile, today at 7:20 am, Bitcoin has a price of USD $21,231.70, according to the charts at Cryptomarkets . It gained 3.13%, as the market an area or arena, online or offline, in which commercial dealings are conducted. reacted positively after the U.S. Federal Reserve announced that the U.S. Federal Reserve would hike its interest rate by 3.13%. announced a 0.75% increase in interest rates.
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