‘Crypto Is Unstoppable’: Ethereum co-founder
04 Dec 2019
Bitcoin and cryptocurrency figureheads are forecasting a sudden price surge with technical data looking to the upside.
“We will see $10,000 Bitcoin again and welcome $100,000,” Ethereum co-founder, Charles Hoskinson announced last week, dismissing the notion that Bitcoin is in a downward spiral of so-called FUD—fear, uncertainty and doubt. He noted: “Crypto is unstoppable. Crypto is the future.”
Should Bitcoin experience a sudden rally towards the end of the year, it would be following something of a precedent. In 2017, it shot up to almost $20,000 in a matter of days.
Meanwhile Bitcoin tech analysts are looking at the Trading Envelope Indicator, which could be “a crucial inflection point,” according to analysis by financial newswire Bloomberg.
“A break below the indicator's lower band could mean a sudden sell-off, though a bounce could herald a rally of around 15%,” reports Forbes.
Last week, following a bout of volatility in the crypto market, Nigel Green, founder and CEO of deVere affirmed: “The reality is that there are peaks and troughs in all financial markets, the cryptocurrency market is not – and should not be - any different.
“Yet each time there is a dip in the market or a bout of volatility in cryptocurrencies, the crypto haters declare that digital currencies are finished - only for them to subsequently experience a rally.”
Bitcoin is currently now trading at around $7,300, up from around $3,500 at the start of 2019.
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