Bitcoin (BTC) Price Likely to Float in $7,500-$8,250 Range Next Month or Two: Crypto Trader

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Sat, 01/11/2020 - 10:20
Yuri Molchan

A crypto trader believes that over the next month or two the Bitcoin price will stay between $7,500 and $8,520, the next few weeks will be crucial here, he says

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Contents

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.

“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.

Related
Bitcoin (BTC) Forks Are Killing It with Bitcoin SV (BSV) Price Spiking 32 Percent

Bitcoin Hopium

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.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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