Rounding up hyperbullish price predictions and the stated reasons

Bitcoin has fallen back to the mid-$7000 support level after rallying over $8000. Bitcoin had a peak in January, 2018.

Various bitcoin bulls have doubled down on their price predictions.

Most of the hyperbullish predictions of $25,000 to 100,000 prices for Bitcoin by the end of 2018 are based upon institutions moving in and the SEC approving ETFs for trading. So far there have been two rejected Bitcoin ETF applications by the SEC.

There is also the estimate of the increasing costs for mining Bitcoin to put a floor of $14,000 to $64,000 for Bitcoin in 2019. The prices for Bitcoin have historically tracked the costs to mine new Bitcoin.

1 thought on “Rounding up hyperbullish price predictions and the stated reasons”

  1. What we all greatly underestimated were the numbers of senior government officials around the globe that were laundering money into offshore accounts. We believed that governments would shut down Bitcoin because it was untraceable and untaxable. But, that is exactly why it has not be shut down. Government officials worldwide are using it for their own gains. (The Panama bank leaks are evidence that supports my claim.)

    And, do you think Obama would send pallets of cash to Iran today? No. He would just send Bitcoin. Because it is also the perfect vehicle for untraceable black payments that governments do not want to ever come to light.

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