RATE Group | Bitcoin Can Reach $50,000 in 2018 Based on these Three Factors
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Bitcoin Can Reach $50,000 in 2018 Based on these Three Factors

27 Jul Bitcoin Can Reach $50,000 in 2018 Based on these Three Factors

Posted at 14:21h in Bitcoin News by

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Just like Bitmex CEO, Arthur Hayes, Anthony Pampliano is sticking to his $50,000 Bitcoin price forecast for 2018. Pompliano, a partner at Morgan Creek Digital Assets, believes that the top-ranked cryptocurrency has an exciting last half of the year in store for all stakeholders. Presently, BTC is trading slightly below the $8,000 after a slight pullback caused by the SEC rejection of the Winklevoss BTC ETF application.

Human Psychology and Bitcoin Price

In a Skype conversation with Cheddar, Pompliano said:

I’ve got a high degree of confidence that at some point in the future it’s going to hit $50,000. And I’ve got some degree of confidence that it will be by the end of this year.

According to Pompliano, three crucial factors will drive the price of BTC to the $50,000 milestone. These factors are – human psychology, Bitcoin ETF speculation, and an influx of big-money investors.

Pompliano explained that from a psychological perspective, BTC traders prefer round figures. Thus,…

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