Following their impressive gains over the past week, cryptocurrency markets and Bitcoin are pulling back a little as expected. Analysts are still eyeing the next peak but some have adjusted their predictions.
Anything that surges almost 20% in less than a week needs to take a breather. This is exactly what Bitcoin is doing at the moment as it corrects to support at $8,600.To read the full article, click hereAnd here goes another random figure prediction that may not happen....I just don't know how crazy they are when it comes to predicting these numbers in that specific day, month or year. Even John McAfee's prediction of $1 million dollars per BTC by the end of 2020 may be impossible as he is now "under pressure" of eating his d*ck live on TV!
Not even halving would guarantee the claims of analysts like him that Bitcoin would "moon" for real.
Every other ATH was about 5-15x bigger than the previous cycle, so I can see where people get these ridiculous predictions from. On the other hand it takes abit more effort to 10x from 10 to 100 than it is from 10000 to 100000. Anything in the range of 30-80k seems much more realistic to me as we will need quite a bit of money from outside to reach higher levels. Households dont have these type of money spared for investing so it has to be institutional $ or some mass adoption event that will force everyone to have 0.01 btc on him for some reason. Other than that, we are sub 10k.