Crypto Community Gave A Forecast For Bitcoin Exchange Rate Movement
A well-known trader Tone Vays published a post on his microblog in which he agreed with the president of Euro Pacific Capital Inc. Peter Schiff's forecast for the movement of the bitcoin exchange rate. Both experts believe that cryptocurrency is going to the level of $ 4,000.
I agree with @PeterSchiff, however the difference is that once it finds a bottom: above, at or below $4k, I will be going ALL IN on $BTC w/ whatever I can sell that's not nailed down! #Bitcoin #stacksats https://t.co/RfRHGxjXtt
— Tone Vays [Bali - Financial Summit] (@ToneVays) September 25, 2019
Many of Twitter's commentators did not agree with the opinion of experts. Some participants believe that the maximum depth of the BTC drop is limited to $ 6,000.
At the same time, the co-founder of Fundstrat Global Advisors and Wall Street analyst Tom Lee gave his vision of the reasons for the fall in BTC prices. In his opinion, the cryptocurrency exchange rate demonstrated a negative trend due to the sale of a large number of risky assets in the traditional market. The specialist believes that the activity of sellers can be explained by the destabilization of the political situation in the United States.
- reinforces our ‘unpopular’ opinion bitcoin does not do well in a ‘trendless macro’ environment.
- New highs needed in S&P 500 before $BTC can blast off.
Why? We think crypto is retail and thus, risk on https://t.co/y5Yo5NepPz
— Thomas Lee (@fundstrat) September 25, 2019
Recall that Tom Lee is a known person in the crypto community for his pipe forecasts.
A number of participants in the crypto community noted that such corrections are normal for BTC. In their opinion, in the near future, the next phase of growth will begin.