Just this week, a report came through that Financial Survivalism, an upcoming Cryptocurrency analyst with his roots deep in insurance, bragged about obvious doubts towards the recent state of bitcoin’s price.
According to him, the longer Bitcoin fails to triumph over a long run decrease line at $4600, the higher its likelihood to mirror the price it had in September and November of 2018.
For Survivalism, this implies that Bitcoin could trade flatly for roughly two to three months before crashing dramatically to a price point of $800. However, this is the worst case scenario for Bitcoin.
Meanwhile, this is not the first time Survivalism has shown obvious notice to bearish issues.
Judging from past reports from Ethereum world news, the analyst has debated that if Bitcoin should follow an increased wave trend, it could gradually land in the same spot it surged during the 2014 and 2015 market cycles.
He goes on further to debate that this point would be a price of $1200. He was highly confident that bitcoin would get to this exact point. Also, he went on further to take a bet with Murad Mahmudov from Adaptive Capital.
Excitingly, the first bet Survivalism made had brought about a precedent for wagers on bitcoin’s price. Also, world bank economist who is now a Cryptocurrency trader by name; Leah Wald, made a bet her friend Filb Filb for one Bitcoin.
The bet was that the Bitcoin cryptocurrency would be sold below $1500 before rising to a peak of $6500. Although they both accepted the bet, this did not go down well with Wald’s friend Tony Vays, an industry commentator.
Bitcoin’s Bullish Issue
Meanwhile, there is still an evident case being made for the low parts of Bitcoin in the current market cycle. However, the analysts mentioned above still believe that Bitcoin will be just fine after the long bullish haul.
However, so many people still believe that bitcoin will gather the famous boatload of tractions in the next ten years. This is
even with their disagreements pertaining to short term predictions
This is because fiat currencies such as the United States Dollar and some other regular economies are starting to stutter.
An Australian Cryptocurrency researcher; Willy Woo remarked that through any measures, the Cryptocurrency fundamentals are actually powerful than they have ever been.
Additionally, Willy Woo noted that Bitcoin would take its stand just like it did in the past years. Woo also mentioned that the bashing Bitcoin is getting from the media and financial institutions are just amazing.
According to Filb Filb, if Bitcoin follows the web’s growth cycle and continually takes gain traction in the universal monetary ecosystem, it could really gather a $333000 valuation in a couple of minutes years.
To Wrap It Up
Through the long haul, Survivalism is still convinced that both the United States’ economy and macro economies will start buckling up under their debt weight and some other financial shortcomings. He notes that all these will set up a stage for the development of a Bitcoin standard or something similar.