Post
Topic
Board Economics
Re: Notable Bitcoin Critic Claims Price Likely to Hit $5,000 In Near Future
by
wuvdoll
on 11/01/2019, 14:26:34 UTC
How do you respond to comments made by Bitcoin critic Jeffrey Gundlach, CEO of DoubleLine management. He estimates that Bitcoin can reach $ 5,000 in the near future. Gundlach notes that investors who have a high tolerance for risk can make easy profits if they want to trade Bitcoin.

The question: is it true that currently Bitcoin has changed with fairly competitive volatility ...?

Source: https://www.newsbtc.com/2019/01/11/notable-bitcoin-critic-claims-price-likely-to-hit-5000-in-near-future/
We are really not that far away from 5 thousand dollars to begin with. This is not some major prediction like it will be 100 dollars or 100 thousand dollars, its just a thousand dollars away, about 20% or 25% away from reality. Considering bitcoin moves up and down 25% almost all the time it wouldn't be a shock to any of us if price moved from here to 5 thousand dollars.

Remember we moved from 3300 or so to 4200 in a week once, if we can move from those levels to higher than there is no way of bitcoin missing a chance to move from 4200 to 5600 again, it is not expected right now and we are not going to the right direction for sure but all I am saying is if it were to happen none of us will be like "how did this even happen" because we are all used to the fact that bitcoin moves weirdly all the time. I wouldn't be shocked about 2600 as well as 5600 to be honest.