• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Bitcoin To Reach New Highs? Not So Fast!
Nexo

Bitcoin To Reach New Highs? Not So Fast!

Trevor Smith by Trevor Smith
2 years ago
in Bitcoin Price, News, News teaser
0

A growing number of Bitcoin analysts are sounding the alarm about the need for the flagship cryptocurrency to prove its worth during the current financial crisis. They assert that now is the time for the decentralized asset to prove its resiliency amid an increasingly unstable global economy.


Global Conditions Open the Door For Big Gains

Tone Vays, a long-time Bitcoin maximalist, has tweeted a video from last June where he sounded an alarm about the rapid price increase to over USD $13,000. Vays noted at the time that such quick value jumps usually led to major corrections:

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Flashback: June 2019 when $BTC hit $13,800 – "I didn't think it was possible to drop back down to $3,000 but I do now" –@UglyOldGoat1 – "I can see a prolonged #Bitcoin Bear Market for 6-9 Month"
For full video 👇 https://t.co/EllkLEpEHl pic.twitter.com/fOTjdFgOT6

— Tone Vays – TheFinancialSummit.com (@ToneVays) March 28, 2020

The key takeaway from this video is that Vays at the time asserted that in 6-9 months Bitcoin should start to recover from any price drop. Now is the time, of course, for such a recovery to begin yet the flagship cryptocurrency has yet to rally. It is worth noting that Vays remains extremely bullish on Bitcoin’s future, but seems hesitant to predict a major value spike any time soon.

Peter Brandt, who has a long record of pushing Bitcoin’s bullish potential, now insists that a “perfect storm” has now formed for Bitcoin to emerge as a key global asset. He has tweeted:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

For BTC, this is the perfect storm.

If Bitcoin cannot rally on this, then crypto is in BIG trouble.

— Peter Brandt (@PeterLBrandt) March 27, 2020

Brandt was even more direct on March 26th, when he replied to a question about Bitcoin’s potential by noting that the cryptocurrency has very little time to prove itself

I do not personally think BTC even has that much time to declare itself true or false

— Peter Brandt (@PeterLBrandt) March 26, 2020

Bitcoin Will Prove Itself Through Use, Not Speculation

Whereas market analysts may debate the technical data that may or may not indicate a price recovery, the fact remains and development and adoption will ultimately decide Bitcoin’s fate. The cryptocurrency remains a work in progress and is still largely a speculative asset. Until large numbers of consumers use it for its designed purpose, which is as a digital currency, its value will continue to be extremely volatile.

The same, of course, holds true for altcoins. All blockchain projects are still far from complete, and investment in any should be primarily based on research into their potential for mass use. Some hold far more promise than others in this category.

The current economic problems cascading across the world do hold great promise for Bitcoin to demonstrate its worth as a safe haven for assets. It also can demonstrate its value as an inflation-proof decentralized currency. Bitcoin has long survived previous challenges, and its decentralized architecture has remained. This fact will not change if it fails to move up in value in the coming weeks.

Do you think the Bitcoin price will reach its all-time high anytime soon? Let us know. 


Image via Bitcoinist Media Library, Twitter: @ToneVays

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Trevor Smith

Trevor Smith

College professor, public speaker, and analyst of all things related to cryptocurrency and blockchain technology.

Related Posts

UnicornDAO

UnicornDAO Rallies For Women And LGBTQ Artists; Raises $4.5 Million 

36 mins ago
Shiba Inu

Shiba Inu Extinction: Finder Panel Predicts SHIB To Have Zero Value By 2030

1 day ago
Terra

Terra – A ‘Pyramid Scheme’ – Threatens The Crypto Ecosystem, Billionaire Says

2 days ago
Getty Images

Getty Images Teams Up With Candy Digital In Foray Into NFTs

2 days ago
Robinhood

Robinhood To Roll Out Standalone Ethereum Wallet

2 days ago
Portugal

Portugal Stance On Taxes – Crypto Haven No More?

3 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.