The Bitcoin exchange rate (BTCUSD) continues to support around $ 30,000, despite considerable downward pressure from panicked sellers.
The main driver of negative sentiment and pressure on the highest cryptocurrency by market limit is due to the sharp monetary position being prepared by the Federal Reserve, as well as the conflict in Ukraine.
The crypto market continued to panic after the collapse of the UST and related altcoin LUNA. LUNA prices have fallen to zero, and this has further crushed any chance of a bullish sentiment in the crypto market among the crowd.
Even with all the negativity, experts from the trading world, trading, finance and more, all came to the defense of Bitcoin, repeating its unquestionable promise and its commitment to see the cryptocurrency through to the end.
This hope keeps overall positive market sentiment alive just enough with influential figures that dominate the attention and respect of big followers, companies and capitals. So PrimeXBT analysts have compared the expectations of some of the most prominent investors and public-facing personalities regarding the future prospects of Bitcoin price appreciation.
Big Names In Trading And Specialist Traders Bullish On BTC
MicroStrategy CEO Michael Saylor is a typically sincere Bitcoin bull who almost always has something to say. Interestingly, during this investigation, Saylor was brief, stating, “I buy BTC when there are free dollars.”
Founder of Twitter Jack Dorseywhich is a a long-time Bitcoin activistdoes not “pay attention to the price of BTC,” adding that he is “Bullish in the long run because more and more people will use BTC in the future.”
Legendary career merchant of goods Peter Brandt expects the $ 27,000 level to become the local fund for BTC. “I have noticed the huge trading volumes in BTC in recent days. In my opinion, this is a sign of capitulation and an opportunity to start growing,” Brandt revealed.
PayPal founder and early Facebook investor Petro Thiel claims that the “The spread of cryptocurrencies will inevitably lead to the collapse of the paper money regime.” Thiel then called on those against Bitcoin, such as BlackRock CEO Larry Fink, JP Morgan CEO Jamie Dimon, and Berkshire Hathaway billionaire Warren Buffett.
Even Ray Daliowho was previously against Bitcoin, later came and took some exposure to cryptocurrencies. “Bitcoin is a good insurance against inflation, but so far it is losing against gold. I would recommend keeping both gold and bitcoins in your portfolios. Over the next year, the crypto market is expecting active development,” Dalio told the Economic Times.
PrimeXBT Business Academy Expert Dirk Hartig Neural About Bitcoin For Now
PrimeXBT’s internal business expert and market analyst, Dirk Hartig, is primarily neutral on Bitcoin at the moment. Hartig expects the sideways trend to continue until November, when he sees continued global growth for the working class.
“I think at this point, it’s safe to assume that we’re probably not entering for a new all-time high in Bitcoin for a more extended period of time. Analyzing how long the bear market lasted the last time Bitcoin switched from bull to bear. regime (2017 to 2018), we can assume that the duration of the worst parts of a crypto bear market usually lasts about 365 days, “ Hartig explained.
“This would mean that the current bear market is likely to last until mid-November 2022 before we see a significant increase again to $ 45,000-55,000 USD per BTC. However, as the realized price of Bitcoin is currently around $ 24,000 – 25,000 USD, I do not I still see so much potential for the downside. “ Hartig elaborated.
“The realized price is a historically good area to buy Bitcoin again (this was the last time in March 2020, and you would buy Bitcoin for $ 4,000 USD). So I wouldn’t be surprised to see Bitcoin enter an extended side range between $ 25,000 and $ 35,000 by November 2022 , ” he concluded.
Another Side of the Coin: More Big Bearish On Crypto Names
There are two sides to every currency, and not all are bullish (or even neutral). Bitcoin. The cryptocurrency has many bears to fight who believe that a bear market will destroy the cryptocurrency further.
Well-known golden bug and Euro Pacific Capital CEO Peter Schiff despises Bitcoin and is sure the currency will collapse to $ 8,000. “Bitcoin’s $ 30,000 support line has been broken, so now its price is going to $ 8,000. There’s a ‘double top’ and a ‘head and shoulders’ on the chart. A threatening combination. We have a long way to go,” Schiff said in a tweet.
Mark Mobiusbillionaire fund manager and founder of Mobius Capital Partners LLP, believes that Bitcoin could approach Schiff’s targets at a price of around $ 10,000 per BTC.
Rich Dad, Poor Dad author Robert Kiyosaki is happy with the fall of Bitcoin, but only because he can buy more at lower prices. Kiyosaki is “waiting for the $ 17,000-20,000 levels to buy more Bitcoin.” It is difficult to consider him a bear, but the target is still bearish.
Cardano founder Charles Hoskinson has not given a target for Bitcoin but is a crypto bearer overall. “The new crypto winter has arrived. The markets will need several months to find the bottom,” he said.
Conclusion: Bulls Against Bears On Bitcoin – Who Wins?
As you can clearly see, there are significantly fewer supporters of a further collapse in Bitcoin than the famous experts and business leaders who favor the highest cryptocurrency via a market limit that returns to a bull market. These influential thought leaders have the ability to energize the crypto community and spur new growth.
Whether it’s a further collapse or a shocking bounce, the volatile crypto market always presents an opportunity to win. Using PrimeXBT’s award-winning margin trading platform, traders of any skill or capital level can access stock indices, oil, gold, Bitcoin, and more all from the same account.
Long and short positions keep traders profitable and capital protected at all times, making “buy and HODL” a thing of the past. PrimeXBT also provides users with unique ways to make money with their crypto assets, such as Covesting. copy business, yield accounts, and more. Specialized trader Dirk Hartig mentioned above, also leads the company’s Business Academy, where traders can get a better reading of price action on more assets.
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