Bitcoin price predictions and opinions: 6 experts on this BTC rally

16 May, 2019
by Will Heasman
Bitcoin
Bitcoin price predictions and opinions: 6 experts on this BTC rally

This week brought yet another parabolic move for Bitcoin, with the #1 climbing above $8000 within 24 hours on Tuesday, and better yet managing to stay above it. As always, with this bullish momentum, comes new bullish sentiment. So, Here’s an overview of the latest opinions, price predictions and price analyses from crypto experts on Bitcoin this week.

'My next Bitcoin target is $9400 if BTC breaks $7500'

Former Wall Street trader turned Bitcoin (BTC) maximalist, Tone Vays, revealed his bullish side this week; predicting that while he believes some remnants of the crypto winter still remains, $9k could well be on the cards for BTC…

"I expected the bear market to continue a little bit … I'm still looking for that 30, 40% pullback either now or later … if we break above the $7500 range, my next target is $9400, because there is just nothing in between there. But I see no fundamental reason for this huge rally."

In the time since Vays placed his caveat at $7.5K, BTC managed to smash through the target with ease. Are we likely to see 9.4k anytime soon… ?

"Bull season is 99% in"

Famed crypto economist, Willy Woo, proclaimed the end of the crypto winter this week by pointing to Bitcoin’s defiant move above the 200-day moving average (MA). The economist relayed that a prolonged move above this MA has historically indicated a bull season:

(Is there anyone still doubting bull season?)

“Within the next 12-18 months, we should be seeing new highs for Bitcoin”

The all-seeing eye of Bitcoin bull, Tom Lee, is working its magic again this week. The Fundstrat founder posited that Bitcoin could revisit its all-time high of around $20k within the next 12 to 18 months.

Along with Woo, Lee points to Bitcoins prolonged period above the 200-day MA, as well as the upcoming 2020 halving.

“crypto spring has begun, even in the face of mass skepticism. What does this mean for price action? We think prices have bottomed, and within the next 12-18 months we should be seeing new highs for Bitcoin and other useful tokens.'

"We're going to test $20k again"

Also looking at Bitcoin’s all-time high is Civic CEO, Vinny Lingham, who recently turned “bullish on Bitcoin,” after the #1 managed to hold above previous god-like resistance at $6,200.

Now, Lingham believes we’re at the “beginning of a recovery,” adding that BTC could test its all-time high of $20k at some point in the near future:

“Bitcoin is still highly speculative"

Chief strategy officer for Coinshares, Meltem Demirors, took to TV, speaking to Yahoo Finance in order to spread the good word this week.

Read more: Meltem Demirors on Yahoo Finance: "Bitcoin is still highly speculative"

However, while she noted the positive influx of financial institutions, Demirors added the proviso that Bitcoin was still a speculative asset class:

"Bitcoin is still highly speculative, it's a new asset class, it's a new technology, and so much of the price volatility around Bitcoin has really waxed and waned, the level of interest we're seeing from Wall Street and legacy financial institutions."

"Institutions are starting to come in"

Also hitting the small screen was Anthony Pompliano, founder of the crypto fund, Morgan Creek.

Similarly to Demirors, Pomp noted the movement from institutional players such as Fidelity and Bakkt, who both recently announced their respective start dates:

“I think there are two things. One, definitely institutions are starting to come in. You see Fidelity announcing that they’re going to start their custody and trading, Bakkt has set their deadline for July but retail also comes in.”

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