Analysis: Binance coin has increased 270 percent since December – could be a new trend
ANALYSIS. The market has started the year in a good way and will hopefully continue even better. One type of cryptocurrency that has performed...
The prices for the biggest cryptocurrencies point up.
Many people are wondering where the bitcoin price is heading next. Like always, it’s hard to say if it’s going up or down. One thing, however, that we can say for sure is that there are experts that think differently about whether the price will go up or down.
The crypto expert Tom Lee from the investment research firm Fundstrat is still positive about bitcoin. He believes that there is more bitcoin trading in the U.S. today than before and that this has meant that more hedge funds have become interested. In addition, many new, young analysts who are hired by the funds are interested in cryptocurrencies.
“I do think in 2018, trading has shifted. I do think hedge funds are playing a role right now”, Tom Lee said earlier to CNBC.
He still believes that the bitcoin price can reach over $20,000 before the end of the year.
— CNBC’s Fast Money (@CNBCFastMoney) 25 augusti 2018
On the other hand, Anthony Pompliano, founder and partner at the investment advisory firm Morgan Creek Digital Assets, believes that the bitcoin price may fall to $3,000.
He also believes that bitcoin will not reach a new price record until the middle of 2023. That is 2,000 days after the previous record.
“Parabolic increases in price continue to take longer – each parabolic run is measured from the last all-time high to the new all-time high. The first rapid price appreciation took just over 300 days (2010-2011) and the second took over 900 days (2011-2013). The last parabolic price increase peaked at ~$20,000 (2013-2017) and took almost 1,500 days to complete”, Anthony Pompliano writes in a post, according to CCN.
The prices for the biggest cryptocurrencies are pointing up, which means green numbers for eos (+4,35%), xrp (+1,82%), ethereum (+1,43%), bitcoin cash (+1,09%) and bitcoin (+1,04%).
The cryptocurrencies on top 100 that performed the best during the last 24 hours were icon (+24,61%) and wanchain (+23,35%), and the ones that performed the worst were lisk (–5,21%) and qash (–4,30%).
*All numbers in this article are from Coinmarketcap.com.
The world's biggest cryptocurrency bitcoin is currently trading at $4,029, which is almost unchanged from yesterday.
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