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Bitcoin Price Prediction [Updated]: Bill Gates and Joe Davis Say It’ll Be $0. How Is That Possible?

  • Vera Thornpike
    📈 Price Predictions

    Not all IT experts share an optimistic view of Bitcoin’s future. Read about BTC price predictions from Bill Gates and Joe Davis


Bitcoin Price Prediction [Updated]: Bill Gates and Joe Davis Say It’ll Be $0. How Is That Possible?
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

Despite the bearish market and constant price fluctuations, Bitcoin continues solidifying its status as the world’s leading cryptocurrency, so investors continue flowing in. Want to join their rows? Don’t hurry: you should monitor BTC price predictions first – some tech giants are quite pessimistic about Bitcoin’s future.

What might contribute to Bitcoin’s failure and make the bubble explode?


Bill Gates: “It’s kind of a pure ‘greater fool theory’ type of investment”

Microsoft founder Bill Gates has never been fond of neither Bitcoin nor cryptocurrency in general. Here’s what he says:

“As an asset class, you’re not producing anything and so you shouldn’t expect it to go up. It’s kind of a pure ‘greater fool theory’ type of investment… I agree I would short it if there was an easy way to do it.”

The crypto community still remembers his sneering at having received some Bitcoins as a birthday present. Why is he so skeptical about the cryptocurrency? Gates explained that the main reason for his negative forecast is that he doesn’t see digital tokens as having any intrinsic value.

Gates declined to specify any certain timelines to his prediction, but he stays reassured that the Bitcoin market is to explode sooner or later. Despite that, the Bitcoin paper market is steadily evolving, so it will probably take years for BTC to crash.

Joe Davis: Bitcoin is speculative

The leading economist from Vanguard’s investment strategy group reckons that Bitcoin’s price performs the function of speculation only. He says Bitcoin is a poor store of value – it’s too volatile. He recommends people investing in something more tried-and-tested. His conservatism in the investment sphere can be understood. Yet, some other institutions, such as Goldman Sachs, encourage investors to explore Bitcoin’s potential.

Kenneth Rogoff: Bitcoin to shrink to $100

Another pessimistic prediction was given by Harvard Prof & ex IMF chief Kenneth Rogoff. He is widely known for hatred towards Bitcoin, and this time, he acted in the same manner:

“I think Bitcoin will be worth a tiny fraction of what it is now if we’re headed out 10 years from now…I would see $100 as being a lot more likely than $100,000.”  

What is his forecast based on? He is sure that governments will rise against cryptocurrencies like Bitcoin. According to Rogoff, laws and regulations will trigger the explosion of the Bitcoin bubble. Besides, crypto enthusiasts and Wall Street experts have very different mind frames.

Why else can Bitcoin fail?

  1. The rejection of Bitcoin futures by SEC blocks the flow of institutional money into Bitcoin. People are tired of unreliable funds and online exchanges. They want Bitcoin to represent some real value.

  1. There are many more technologically advanced coins appearing around. Ripple and Ethereum are stepping on Bitcoin’s heels, offering faster and cheaper blockchain solutions.

  2. Bitcoin has nothing else to offer. BTC mining is no longer profitable, and upcoming technological updates (the Lightning Network) won’t put it ahead of competitors. Without any new sensational advantages, Bitcoin is doomed.

Only time will show whether pessimistic assumptions will materialize, but it doesn’t seem that Bitcoin is going to leave the scene in 2019. The show must go on!

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TOP 3 Price Predictions: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) — Should Buyers Fix Their Profit or Not Yet?

  • Denys Serhiichuk
    📈 Price Predictions

    It looks that buyers are fixing their positions. In this regard, is that a chance to buy or we need to follow the general market mood?


TOP 3 Price Predictions: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) — Should Buyers Fix Their Profit or Not Yet?
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

The situation on the cryptocurrency market has not changed a lot comparing to Thursday. Prices of most coins out of the top 10 have been reduced, however, there are 2 exceptions from the rule. Binance Coin and Litecoin are those ones that keep going up when other coins are ’’relaxing’’.   

Especially it is remarkable for BNB, whose rate has exceeded $20.


BTC’s domination rate is stagnating and now constitutes 52%.

BTC/USD

Friday, Apr. 19 has started for the main cryptocurrency with a red bullish candle, pushed down BTC from $5,274 to the $5,200 mark. Currently, the quotes are trading in the $5,200 - $5,250 corridor.

BTC/USD chart by tradingview

Yesterday, the main cryptocurrency managed to overcome the resistance of the Fibonacci level and tested the mark of $5,276 (61.8%).

If today we manage to return to this level, then the path to the $5,300 mark is possible. The target level of bulls will be reached, after which a pullback will start to fix positions.

On the whole, the BTC maintains an upward priority, but in the coming days, a flat range is also possible.

The price of BTC is trading at $5,256 at the time of writing.

ETH/USD

A general picture for Ethereum is even better than for BTC, as its price has not reduced so much.  Yesterday, the asset touched the $176 mark but was not able to consolidate it and rolled back to $170.

ETH/USD chart by tradingview

On the 1-hour chart, ETH has all efforts to come back to the $180 mark, which was achieved on April.10. That is confirmed by the RSI indicator and trade volumes.

👉MUST READ Ethereum 6 Month Price Prediction – ETH Price May Touch $375 Very Soon. ETH/USD Price Forecast 2019
Ethereum 6 Month Price Prediction – ETH Price May Touch $375 Very Soon. ETH/USD Price Forecast 2019

However, taking into account fundamental factors, some Ethereum based projects have started to migrate to Binance Chain network. If such a trend continues, it could negatively affect the ETH’s rate.

The price of ETH is trading at $171.89 at the time of writing.

XRP/USD

Ripple is the biggest loser from the top 3 coins, as its rate has dropped by more than 2% over the last 24 hours.

XRP/USD chart by tradingview

The price of XRP is trading at $0.33 and continues to move within the growth and the downward channel. The quotes XRP/USD are moving inside the Ichimoku cloud, which indicates the presence of a lateral trend for Ripple.

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An impetus for growth renewal can be the recent news concerning the Huobi exchange which added 3 more trading pairs for XRP.

The price of XRP is trading at $0.3322 at the time of writing

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