Bitcoin (BTC) price is still opting back and forth in the market without notable plummet or rise for quite some days now. Crypto enthusiasts, investors and analysts look forward to the day it will be fully adopted globally. An expert recently sees Bitcoin possibly surging by 3,600% in four years’ time, citing crucial points.
Bitcoin has been faring below $9000 resistance level for quite some days now, and there is growing expectation among the crypto enthusiasts. BTC surpassing much stronger and challenging resistances will be a dream come true for a number of bullish forecasters in the cryptocurrency space.
It is believed that Bitcoin’s consistent rise in price could boost its popularity, which would eventually initiate its global adoption. However, there have been external forces working against the global solidarity of its general acceptance.
Some investors had accumulated a lot of Bitcoins sometimes in 2011, when it hadn’t gained popularity it enjoys today. Back then, BTC was as low as $100, but its price geometric progression is noteworthy. 1 BTC is now above $8,000.
At the time of filing this report, Bitcoin is trading at $8,521.15, with 1.79 percent price drop in the last 24 hours. BTC is still maintaining its market dominance of about 60%, giving it the pole position of dictating the price upward and downward trend of all digital currencies.
Crypto analysts remain bullish about the growth of Bitcoin, despite its recent price retraction in the market.
Analyst Believes Geometric Growth of Bitcoin Could Surge it by 3600% in 4 Years
An optimistic analyst named Crypto Michaël on twitter , has recently analysed the growth rate of Bitcoin (BTC), making some notable points that cannot be underestimated.
He pointed that Bitcoin was trading at $225 in 2nd June 2015, and now trading at about $8,700 in just 4 years. The calculated price increase rate could be approximated to 3,900%.
Michaël asserted that no other asset could experience such price upsurge, giving to the ups and downs Bitcoin (BTC) underwent between 2015 and 2019.
He said “2 Juni 2015: BTC was $225. 2 Juni 2019: BTC is $8,700. That’s a ROI of 3,900%. Not any other asset can give such a beautiful ROI, with even a bubble in between.”
He concluded by saying that Bitcoin (BTC) has not changed its growth momentum, and this has been boosting its global adoption. He maintained BTC could repeat its growth rate (3,900%) for another four years.
“And fundamentally BTC didn’t change. It’s even getting stronger with more adoption. Imagine in 4 years.”
Bitcoin (BTC) could retest $9000 resistance level once again as it did about 3 days. Consistency in its price growth is the expectation of the teeming enthusiasts and investors. Even the suitors of others digital currencies desire Bitcoin’s bull run, with the hope of impacting the price growth of their assets.
The post Bitcoin Could be up by 3600% in 4 Years’ Time – Analyst Makes Notable Points appeared first on Today’s Gazette – Cryptocurrency, Bitcoin, Ripple, Tron, Verge, Cardano News .
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