Bitcoin predictions run riot in the cryptocurrency sphere, never more so than when Bitcoin goes on a bullrun. Considering the original cryptocurrency has grown over 65% this month, it’s safe to say that it is currently on a major one.
We’ve recently heard bullish calls from cryptocurrency hedge fund manager Brian Kelly. He stated that this is only the beginning of extended gains for the coin.
But today, on the other side of the fence, is venture capitalist Jason Calacanis who predicts that bitcoin price will fall between $0 and $500 in the future.
Bitcoin Predictions From Jason Calacanis
Earlier today, Calacanis said that the world’s largest cryptocurrency by market cap operates in a manipulated market.
“It’s possible [bitcoin] is built to last, but not probable, so keep your position to an amount you’re willing to [lose]…For most, that’s 1-5% of net worth.”
He also suggested a new technology would emerge to replace Bitcoin and this would eventually damage its long-term fundamentals as an asset.
Calacanis argued that early holders would exit their positions at suitable peak formations and this would leave newer investors with the damage of a huge selloff:
“It’s possible that the early holders will clear their positions to a new group of global refugee seekers, making it built to last[…]I put that at [more than] 30 percent right now. Energy consumption, hacking, regulation & a better version are likely negative scenarios — I bundle those at 70 percent.”
Bitcoin Price Predictions
Nobody can truly predict which way Bitcoin is going to move, but it has made a remarkable comeback in recent months after slipping more than 70% last year. At it’s highest high, the digital coin was worth over $20,000 back in December 2017. Only earlier in 2019, the coin fell to lows of $3,250 approx.
Now, the coins current price of $8,736.56 shows an increase of 186% in only 5 months. There are certain factors on the way which suggest the coin will continue to excel. One of these is a “halvening” whereby the mining rewards for Bitcoin will half in 2020.
What are your Bitcoin predictions?
Featured Image: Deposit Photos/zhudifeng
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