At press time, the major cryptocurrency is changing hands at the price of $8,109. Bitcoin surged and touched the $8,400 area after the US launched a missile strike on Iran. The crypto Twitter became filled with sarcastic and serious posts that in order to see how the Bitcoin price goes to the moon, the community needs a major war.
However, when the US President Donald Trump started solving the issue with Iran through diplomacy rather than further missile arguments, BTC quotes dumped a little.
BTC to be range-bound for the next 35-70 days
Now, crypto trader @MacnBTC predicts that the price of ‘digital gold’ is likely to float in $7,500 to $8,520 range over the next month or two. He believes that the situation will become clear within the upcoming few weeks.
IMO $BTC is range bound ($8520-$7500) for the next 35-70 days.— Mac ❄️🐺 (@MacnBTC) January 10, 2020
"Bottom is in scenario":
If bottom really "is in" alts will see some "last minute" exit pumps
-> $BTC pumps out of range with a fat candle and alts dump to hell
Next 2-3 weeks will tell us everything
“Bitcoin will way outperform gold”
A major investor Preston Pysh, one of the hosts of the Investor’s Podcast, has recently tweeted that in his view, Bitcoin will eventually do better than gold, outperforming it tremendously. He also bashed those investors who buy bonds, saying that all these securities are denominated in fiat currencies and will bring them a lot of difficulties in the long-term prospect.
Since March 2019, Gold has started to outperform the S&P500. I expect that trend to persist moving forward. But, I think #Bitcoin will WAY outperform gold. Bonds are a disaster - they are all denominated in fiat - good luck with that long-term. pic.twitter.com/Ie2bGD5QV6— Preston Pysh (@PrestonPysh) January 10, 2020
Some traders and investors remain incredibly bullish on Bitcoin, drawing rosy pictures of the future when they make a fortune on their BTC and quietly criticize those who are not in a rush to buy BTC at the current price.
The year is 2046.— Bitcoin Macro (@BTC_Macro) January 10, 2020
Bitcoin is trading at $1m. Price is stable and hasn’t moved in years.
You’re at a bar and overhear two friends talk: “I once almost bought a full $BTC in the early days below $10k.”
You smirk, secretly pay for their tab, and drive home to your gated mansion.