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To play in the new year, Tone Vays, a former institutional investor who became tough, Bitcoin (BTC), brought Princeton graduate Murad Mahmudov, an eminent analyst and cryptocurrency economist, to discuss the current state of this nascent market. Given that the debate / friendly discussion lasted more than 130 minutes, there was a mass of intriguing information contained in this episode of On The Record. But as made evident in a pseudo-transcription filled out from the Twitter user "Astatine", the two eminent cryptographers have clarified that they continue to see a strong future for Bitcoin.
Bitcoin has not finished yet
Since Bitcoin began to capitulate towards the end of 2017, as investors withdrew from the mass-encrypted sector, long-term believers and value investors tried to time the time. However, more than a year later, after BTC lost 80% of its historical maximum value, Joe's common investors still can not clearly discern the cryptocurrencies that have found a floor to be on. However, Vays and Mahmudov aimed to answer this pressing question, which haunted for months and months the waking hours of the most astute investors of the crypt.
Mahmudov said that BTC is still on the verge of finding a long-term foothold, explaining that the world's first cryptocurrency is most likely low down from the $ 1,800 to $ 2,400 range. For a certain perspective, a price level of $ 2,000 will require the price of Bitcoin to lower an additional ~ 50% from current prices – not the end of the world, but still a dismal move. Explaining this short-term bearish call, the trader noted that while it is 100% sure that BTC will not fall below $ 1,000, probably the most pertinent level of psychological support, the real fund is not.
Mahmudov, who hinted at his intent to launch a cryptocentric hedge fund in the near future, noted that a number of altcoins, such as Ether (ETH), EOS, XRP, among others, are still drastically overvalued, especially considering their often misunderstood value propositions.
It is interesting to note that Mahmudov's background call has not aligned the Vays, nor the forecasts propagated by his colleagues, well respected encryption traders. Vays, for example, said that there is a 30% chance that BTC has hit the bottom, before adding that there is a 40% chance that the BTC will fall to a minimum of $ 1,000 in bass.
According to previous reports by NewsBTC, Filb Filb, a long-term Bitcoin permabull and one of Mahmudov's fellow analysts, revealed that, according to market trends and cycles, Bitcoin could place between 2,500 and 3,100 dollars from today until the end of the day. , beginning of 2020. Anthony Pompliano, the founder of Morgan Creek Digital Assets, also said that BTC could easily fall below $ 3,000, mainly because it remains the possibility that the fund traded in Bitcoin sponsored by VanEck may be denied by incumbent American regulators .
And while analyst predictions are varied, a common theme in all their predictions is that BTC will probably still have to fall.
What's happening to Bitcoin?
However, while Mahmudov is almost certain that the bottom of this market has yet to come, the analyst made it clear that in a long-term time horizon, he is extremely optimistic about Bitcoin, along with its potential to revolutionize global finance. Mahmudov said he was so optimistic that he would not spend cryptocurrency for at least ten years, as the potential rise in potential and the asymmetric risk profile make it unwise to use BTC at current rates.
Explaining why he is a "HODLer of last resort", as the crypto community likes to call the more dedicated Bitcoin investors, the analyst noted that BTC's fixed issuance program is the catalyst that will send billions of US dollars into the time.
In fact, he said that on the basis of his models, which consider up to twenty fundamental factors, including supply, in 2023 there will be a much larger bubble than at the end of 2017. Mahmudov noted that the bubble of 2017 will be so small that it can be compared to the Dotcom industry in 1994, rather than the 2002/2003 bubble that the evil prophets have solicited. The fundamental factors of the analyst, combined with the fact that there are over $ 17 billion in stocks worldwide, in addition to over $ 100 trillion in value of all forms of money and value stores (SoV), have clarified that the Bitcoin probably has more than enough space to run.
Lou Kerner, the founding partner of Crypto Oracle, echoed the money and the SoV catalyst in a recent interview, as previously reported by NewsBTC. Kerner has simply stated that the legal currencies are a Ponzi scheme, before stating that BTC could exceed the price of $ 100,000, particularly due to its ability to allow consumers to easily steal their wallets drastically. And in a financial crisis similar to today, the value proposition of Bitcoin will become even more evident.
Related reading: CEO of Messari: the killer use case for Bitcoin is still money, digital gold
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