Bitcoin (BTC) is going to reach 40,000 before the Dow Jones does, according to the analyst eyeing a 200% price jump by August 2020. Speaking to CNBC in an interview on Feb. 10, Fundstrat Global Advisors co-founder, Tom Lee, said that although the Dow would hit 30,000 points before Bitcoin hits $30,000, 40,000 was a different story. Lee: ‘I would not pick the Dow’ The Dow currently trades at 29,280, an all-time high, while BTC/USD is at $9,870 after hitting five-month highs of $10,150 over the weekend. Lee summarized: “My guess would be Dow, but if I had to say …

Bitcoin (BTC) may dip below its 200-week moving average price but will stay above $8,200, one of the industry’s most respected analysts has said. In a series of tweets on Feb. 10, PlanB, creator of the stock-to-flow Bitcoin price forecasting tool, also predicts BTC/USD would trade “above $10,000” by May. PlanB: stock-to-flow still on track This is around the date of Bitcoin’s block reward halving, which would kick off the “bull run” sending the cryptocurrency to $100,000 before December 2021. PlanB released the predictions describing them as his “2 sats on Bitcoin price.” In a previous update in January 2019, …

Bitcoin (BTC) is primed for average gains of almost 200% over the next six months, one of its best-known supporters has told mainstream media. Speaking to Yahoo! Finance on Feb. 4, Tom Lee, co-founder at Fundstrat Global Advisors, said one bullish technical factor, in particular, made him “really optimistic” about Bitcoin’s short-term potential. Lee: 200MA triggers 197% returns “Notably in January — January is usually a week month, it was a great month for Bitcoin, up 26% — but it also recovered its 200-day moving average,” Lee explained. “That’s a big deal as you know, as anyone who’s a trend …

Bitcoin (BTC) hitting $6,000 again is not only unlikely but would be “concerning,” a well-known commentator has told Cointelegraph. Speaking in a market discussion with Cointelegraph, EzeeTrader partner Charlie Burton said that should current market behavior continue, those waiting to buy in closer to $6,000 will face disappointment. Burton: A fast move will come for BTC “...I think we’ll have upside and then we’ll have downside again, just to the point where a number of players will just get bored and move on,” he said. Burton continued: “And then there’ll be a fast move that’ll come, and a lot of …

Bitcoin (BTC) rising above $8,500 appears to have left gold proponent Peter Schiff with egg on his face after he predicted its imminent downfall to $1,000. Data from Cointelegraph Markets and precious metals monitor Kitco showed that while Bitcoin has gained 7.5% over the past week, gold has conversely slipped 4%. Gold expected to hit $1,500 lows After reaching highs of $1,610 on Jan. 8, XAU/USD has fallen dramatically, trading at $1,546 as of press time on Tuesday. The trend is all the more conspicuous to cryptocurrency supporters, coming at a time when geopolitical upheaval centered on Iran seemed to …

Bitcoin (BTC) can deliver 100% returns to investors in 2020 and may rise significantly in the five months until May’s block reward halving, a new report claims. In its forthcoming 2020 Crypto Outlook, market research firm Fundstrat Global Advisors said it believed that the halving was not yet “priced into” the Bitcoin price. Fundstrat expects over 100% BTC gains The report is currently only available to the firm’s clients, with key findings uploaded to Twitter by co-founder Tom Lee on Jan 10. “For 2020, we see several positive convergences that enhance the use case and also the economic model for …

Bitcoin (BTC) will reach its highest price ever this year due to “unforeseen” events, which will draw in new buyers, one senior cryptocurrency industry executive says. In an interview with Bloomberg on Jan. 8, Sonny Singh, chief commercial officer at payment processor BitPay, claimed BTC/USD would pass its all-time highs of $20,000 in 2020. Singh: a few buyers make a big difference The reason, however, would remain unknown until the bullish surge kicked in. “Something unforeseen that could happen could really move it faster,” he summarized. Supporting his prediction, Singh pointed to historical trends. In 2015, the Greek sovereign debt …

Bitcoin (BTC) can “very easily” hit $50,000 during 2020, the CEO of one cryptocurrency industry business has told mainstream media. In an interview with Bloomberg in Berlin on Jan. 3, Antoni Trenchev, head of Bitcoin lending platform Nexo.io, said Bitcoin price growth since its inception was almost unlike anything ever seen. Trenchev: Bitcoin is an “incredible asset” “It’s been an incredible asset uncorrelated to the overall market,” he told the network. Trenchev added Bitcoin’s journey to up to $20,000 was reminiscent of German hyperinflation after the First World War: “It delivers systematic asymmetric returns and the only thing that we …

To prophesize is a natural human tendency. Humanity applauds those who make the right prediction and also love to hate on people when they miss the mark, especially by ridiculously large amounts. For many years, the crypto industry has been prone to high fluctuations and volatility. Nobody can actually predict what will unfold in the upcoming seconds, minutes, hours, days, weeks, months... let alone the years. Once when everyone predicted that Bitcoin (BTC) would die, its price nearly hit $20,000. Conversely, when people thought that it would hit $1 million, it plummeted to a meager $3,200. As 2019 comes to …

Bitcoin (BTC) gained fresh rare support from mainstream media on Dec. 20 after CNBC entertained the idea of a $250,000 in the coming years. In an episode of the network’s Fast Money segment, several well-known Bitcoin bulls collaborated to present a buoyant picture of the cryptocurrency’s future. Kelly sympathizes with Draper’s Bitcoin price prediction Resident analyst Brian Kelly joined Fundstrat Global Advisors co-founder Tom Lee in arguing that in the mid-term, the sky-high price tag was both possible and even a reasonable aim. For his part, Kelly gave credence to investor Tim Draper, who earlier in the week had claimed …

Bitcoin (BTC) passed $7,200 a second time on Dec. 19 as previous bearish moves gave way to a return to higher levels. Cryptocurrency market daily overview. Source: Coin360 BTC shows signs of a bullish comeback Data from Coin360 and Cointelegraph Markets showed BTC/USD holding ground recovered above the $7,000 mark late on Wednesday. At press time, the pair traded at around $7,100 after hitting highs of $7,345, marking 24-hour gains of almost 8%. Bitcoin 1-day price chart. Source: Coin360 With sentiment notoriously volatile this week, Bitcoin’s progress has provided a welcome cause for broader optimism among traders and analysts. In …

Bitcoin’s (BTC) 2020 block reward halving continues to generate mixed opinions regarding price performance, as one analyst suggests its impact will be next to nothing. In a tweet on Dec. 1, Jason Williams, co-founder at digital asset fund Morgan Creek Digital, said that unlike many others, he believed markets would not move as a result of the halving next May. Williams: BTC halving will be “non-event” “Bitcoin halving in May 2020 won’t do anything to the price. It will be a non-event,” he summarized. Bitcoin’s block reward halving will reduce the amount of BTC paid to miners for each block …