RATE Group | Don’t Expect New Bitcoin Price Highs in 2018
37786
wp-singular,post-template-default,single,single-post,postid-37786,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Don’t Expect New Bitcoin Price Highs in 2018

06 Aug Don’t Expect New Bitcoin Price Highs in 2018

Posted at 02:11h in Bitcoin News by

[ad_1]

Tuur Demeester is an economist and investor.

The following article references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for that.

Despite an already six month cool-off period, for 2018 we see more sideways and downside potential in the bitcoin price due to sluggish retail demand, hesitation from institutions and a current market cap that seems too high relative to the activity occurring on available blockchains.

Many investors and advisors are on record stating that $5,700 was the bottom in bitcoin for this year, and that higher prices lie ahead. While we are very bullish on bitcoin’s long-term prospects, we do heed caution for more short-term price optimism.

To find the starting point of the historic parabolic rally in bitcoin that ended at $20,000 we have to go as far back as August 2015, when bitcoin traded at below $200. This past rally was a stupendous, historic move. Even in secular bull…

[ad_2]

Source link

Tags:
, , , , ,