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While Bitcoin (BTC) holders and analysts worldwide are struggling to predict the post-half price, trader Eric Choe demonstrates why it may not make sense.
Content
- You think, price movements
- Return point
Well-known trader Eric Choe (@ChoeTrades) explained why bullish and bearish radicals have to moderate their expectations in the face of the upcoming Bitcoin (BTC) halving.
You think, price movements
Eric Choe scoffed at attempts to predict Bitcoin (BTC) price movements, which are based on positive and negative market sentiments. For example, the common hope of selling at the new post-half high can be costly for bulls:
Conversely, bearish sentiment may increase the chances of the cryptocurrency’s flagship recovering again. All in all, Mr. Choe avoids pulling on this thread. However, one of his latest predictions may scare the bulls off as he recommends his followers prepare for Bitcoin (BTC) on the triple digit waters:
$ 900. Be prepared.
According to the detailed predictions shared by Mr. Choe, Bitcoin (BTC) can enter the less than $ 3,000 zone in late May if the bearish scenario develops.
Return point
The third half of Bitcoin (BTC), which occurs on May 13, 2020, is being treated by the community as the basis for a long-term bull run. Based on trader and analyst PlanB’s ‘Stock-to-Flow’ model, the price of the first crypto may skyrocket in late 2020.
Moderate bullish predictions (by Michael van de Poppe, Charles Edwards) assume that Bitcoin’s new all-time highs (ATH) will follow in 2022 or 2023.
By contrast, critics of Bitcoin (BTC), p. ‘golden mistake’ Peter Schiff is confident that the halving of Bitcoin (BTC) will not be an event since ‘half of nothing is still nothing’.
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