In a Tweet on May 3, Sherman-Founder of Bitcoin Foundation Charlie Shrem announced that this month the Bitcoin market would mark an important turning point.
May 2018 will be Bitcoin's "last time" at under $ 10,000. That was Shrem's statement, which made the digital money community flutter. From less than $ 6,500 in the first quarter of this year, BTC / USD prices rose by over 30% in April and have kept rising ever since. Previously, there was a long-term trend analysis indicating the beginning of the 'hold' phase for Bitcoin. Right from the first week of the month, we have seen one of the most obvious signs that an uptrend may begin soon. Currently, Bitcoin has been traded at $ 8,397.10 and Ethereum at $ 700.10.
With Shrem's strong statement, do you believe from June 2018, Bitcoin and Ethereum will change drastically and the value will start to increase rapidly?
I don't buy it at all.
I think that he is completely ignoring the possibility that bitcoin may, and probably will, experience future bear markets that will take prices down unexpectedly to low levels. It simply makes no sense to guarantee bitcoin is going to stay above $10k for eternity, when we can't predict what goes on in future bear markets in which the extent of the crash may be much bigger.
Plus, with the correction that just came, it'll be hard for bitcoin to even get above $10k this month with respect to the lower levels that we are currently at, and the strong barrier of $10k. As I said, I don't see this prediction being realistic or even a serious one.