Bitcoin Price Falls Over Speculation Concerning The Future Of The Cryptocurrency Market

Bitcoin is facing another price decline resulting from market speculations regarding the price movement of Bitcoin in the near future. The price of Bitcoin fell below $10, 000 today (July 26th) again. This fall in price seems to be as a result of differences in opinion amongst investors. Opinions are currently divided as to the direction in which Bitcoin’s price is headed. Some investors believe that the most likely scenario for Bitcoin price movement is a decline in price. Is there hope for Bitcoin? Will the Bitcoin price prediction 2019 remain bearish for the rest of the year? Share your thoughts in the comment section below.

Bitcoin Price Prediction 2019 – Bitcoin News Today – Bitcoin Price Analysis – Future Of Bitcoin

One of the people who weighed in on the debate was a technical trader identified by the Twitter handle of Filb Filb. In his yearly BTC/USD forecast which was released on Wednesday, he projected a decline in Bitcoin price. He predicted that the price of Bitcoin would land at around the $7, 000 range. He also predicted an increase in price in 2020, before the block reward halving event which will occur in May. This is quite interesting since miners have previously indicated a resolve to keep the price of Bitcoin above $6, 500.

Bitcoin (BTC) Price Today – BTC / USD

#NamePrice24H %
1
bitcoin
Bitcoin(BTC)
$9,874.47
2.09%

However, not everyone shares this gloomy outlook on Bitcoin’s future. Some people in fact have very positive, even bullish expectations for Bitcoin. Long time crypto enthusiast, and founder of Galaxy Digital, Michael Novagratz has in fact been predicting a rise in Bitcoin’s price. His forecast, made while speaking to Bloomberg, was outrightly bullish. He expects Bitcoin to reclaim its all time high position of $20, 000. He said he believed that the interest in Bitcoin from several institutions would push the price up.

Michael’s report is not even the most bullish forecast on Bitcoin from investors. In fact, Dan Morehead, head of digital asset management firm Pantera Capital, has forecasted a parabolic climb in price. He said that Bitcoin price might climb as high as $42, 000 before the year closes. It does remain to be seen if there are any parabolic movements in Bitcoin’s price before the year ends.

Bitcoin News Today – Bitcoin Price Faces Uncertain Future Due To Impending Regulations – Bitcoin Latest Update – Bitcoin Price Prediction – BTC News Today

It should be noted that it is not yet clear if the price decline is due to these conflicting speculations. A lot of uncertainty remains over the future of Bitcoin on the market, and there are a lot of factors that could be involved. One source of worry for the Bitcoin market is the news on potential cryptocurrency restrictions coming out from India and the US.

In the US, new cryptocurrency rules seem imminent, following some very telling remarks by the US treasury secretary Steve Mnuchin. Meanwhile in India, lawmakers have been (once again) considering a complete cryptocurrency ban in the country.

None of this is good news for Bitcoin amidst its most recent struggles. It remains to be seen how all of this will play out in the future. There is still a lot of controversy regarding the future of the cryptocurrency industry.

What do you think? Does Bitcoin have a future? Share your thoughts in the comment section below.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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