[ad_1]
The famous bitcoin kit expressed doubts that the upcoming halving will lead to a sharp rise in the market value of the cryptocurrency, calling the current price “overpriced.”
An anonymous trader Joe007, who often ranks first in trading volumes on Bitfinex, in response to an Ilon Musk tweet about the inflated value of Tesla’s shares, said:
“I can definitely relate. I also think the BTC price is too high. “
I can definitely relate. I also think the BTC price is too high. https://t.co/8RAO9VlLyz
– ʲᵒᵉ (@ J0E007) May 4, 2020
Joe007 considers the excessive excitement around bitcoin’s halving. Historically, a decrease in block rewards has led to an increase in the value of cryptocurrencies. According to the whale, now you should not count on it.
He noted that the current Bitcoin rally is taking place at too low trading volumes. This leads him to doubt that the demand for BTC is sufficient for sustainable growth in market value.
Why are they so focused on the fucking price? The price could be pumped at $ 20k or thrown at $ 2k literally tomorrow, in such a thin market. What will matter? Absolutely nothing at all
– ʲᵒᵉ (@ J0E007) May 4, 2020
“With such low volumes, the price [BTC] can raise up to $ 20,000 or drop down to $ 2000 literally tomorrow “ – stressed the merchant.
Halving Bitcoin will take place on May 12. The block reward will drop from 12.5 BTC to 6.25 BTC.
Previously, Dan Morehead, CEO of Pantera Capital, a crypto hedge fund, Dan Morehead calculated that Bitcoin will reach $ 115,000 after halving in August 2021. Most Chinese miners expect the price of cryptocurrencies in the range of $ 10-15 thousand in the next six months.
Subscribe to ForkLog news on Telegram: ForkLog Live – all news service, ForkLog – top news and polls.
Found an error in the text? Highlight and press CTRL + ENTER
SUBSCRIBE TO THE NEWS Forklog
[ad_2]
