BTC/USD Rockets to Highest Print Since June: Sally Ho's Technical Analysis 27 July 2020 BTC

19d
cryptodaily

Exploring Decentraland: A Review of the Virtual World Built on Ethereum

19d
thebitcoinnews

J. A. McDonald: The Longest Running Case of Mass Hysteria

19d
thebitcoinnews

Popular Indian Youtube Channel Hacked to Promote Bitcoin Giveaway Scam

19d
thebitcoinnews

Tips on How to Minimize the Risks When Trading Cryptocurrencies

19d
thebitcoinnews

Analyst Who Predicted Bitcoin’s V-Shaped Reversal Expects Rally to $17k

19d
bitcoinist

Charles Edwards: BTC Could Shoot Up with Banks’ Help

19d
livebitcoinnews

These 3 Metrics Suggest Bitcoin Is Building Up Bullish Momentum

19d
bitcoinist

Are Institutional Investors Not Buying Bitcoin Anymore?

19d
coininsider

Visa Moving to Integrate With Digital Currency Platforms

19d
thebitcoinnews

Bakkt Hasn’t Experienced Any BTC Options Trading Since Mid-June

19d
livebitcoinnews

XRP Is Surging But Not Everyone Is Convinced a Bull Run Is Certain

19d
bitcoinist

Bitcoin Is Readying for “Big Move,” Says Fund Manager Who Predicts $50k BTC

19d
bitcoinist

Market Update: Crypto Cap Nears $300 Billion, BTC Hits $10K, ETH Rallies Hard

19d
thebitcoinnews

ETH/USD Launches to Highest Print Since July 2019: Sally Ho's Technical Analysis 26 July 2020 ETH

19d
cryptodaily

After Surging 25% in 5 Days, Ethereum Forms Sign Last Seen Before March Dump

19d
bitcoinist

Visa Claims It Will Support More Stable Currencies in the Future

19d
livebitcoinnews

Analyst Who Predicted BItcoin’s 2018 Bottom Thinks $10k Is Imminent

19d
bitcoinist

Adam Back & Satoshi Nakamoto: friends or strangers?

19d
cryptodaily

Bitcoin Falls Back Into The $9K Zone After Its Brief $10K Breach

19d
coingape

Bitcoin and Ethereum Surge to New Highs, Gold Almost at All-Time High

19d
cryptoglobe

After Surging 15% in 5 Days, XRP Prints Textbook Sell Signal

19d
thebitcoinnews

Bitcoin SV Is Stuck Below $200, May Resume Upside Range Correction

19d
coinidol

Here’s Why Bitcoin is Poised to Hit $11,500 Following Overnight Rally

19d
bitcoinist

Former CFTC commissioner believes the US should bring in outside stakeholders for a CBDC to bring in a new perspective

19d
cryptodaily


A Panel of Experts See Bitcoin Averaging $12,948 by Year End

A panel of experts is predicting the price of bitcoin will rise to $10,337 by September before adding a further $2,611 to end the year at $12,948.

The findings are drawn from a Finder Cryptocurrency Predictions Report for July 2020 and the latest figure is roughly $2,500 less than the price predicted in the April report.

In the report, 28 panellists drawn from academia, crypto research firms, and hedge funds are also asked to give their sentiments about bitcoin.

Some 50% of those surveyed believe now is the best time to buy bitcoin.

According to the findings, “half of the panellists (50%) thinks now is the time to buy, with a little under a third (32%) suggesting holding.” Only 18% say now is the best time to sell.

Meanwhile, two of the panellists who share this buy sentiment argue their case in the same report. Kinetic Trading CEO David Wills, one of the two panellists, believes events sparked by the coronavirus pandemic have created the best scenario to buy. He said:

I am a big follower of Plan B stock to flow analysis. This combined with the debasement of fiat currency in the wake of covid-19 is the perfect set-up for a bull run in the second half of the year.

Echoing Willis’ sentiments is Coinmama CEO, Sagi Baksi, who “notes a few different factors at play.”

Baksi points to the stock to flow model, the financial instability, as well as the printing of money by the US Federal Reserve. From these pointers, he concluded that now is the time to buy bitcoin.

Gavin Smith, general partner at Panxora, is one of the few dissenting panellists. He thinks now is the best time to sell.

While agreeing with the long-term inflation outlook, Smith does point out that the global economy has been hit by “a negative demand shock caused by covid-19.”

This hit is a strong enough basis for a “short-term significant decline in the value of bitcoin as the deflationary demand shock filters through.”

Smith’s prediction for the end of year value for bitcoin of $7,000 sharply contrasts with the panel’s average prediction.

In the meantime, bitcoin’s value appears to have stabilized above $9,000 since the halving. It has only breached the $10,000 mark a few times despite some bullish predictions.

Do you think bitcoin is currently trading at a discount? Tell us what you think in the comments section below.

Regarding any copyrights issue, please contact us:content@hashbee.com.

0 comments