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Bitcoin Price to Hit $55,000 after Halving, Says Morgan Creek Digital Co-Founder, Citing PlanB Analyst

  • Yuri Molchan
    📰 News

    A Morgan Creek Digital co-founder promises BTC will hit $55,000 after the halving in May 2020, citing an analyst from Crypto Twitter

Bitcoin Price to Hit $55,000 after Halving, Says Morgan Creek Digital Co-Founder, Citing PlanB Analyst
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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.

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Jason A. Williams, a co-founder and a partner at Morgan Creek Digital fund, a colleague of the Twitter-active Anthony Pompliano, has cited the BlanB crypto analyst (also famous in the Crypto Twitter). The latter says that after the upcoming Bitcoin halving next year, the market value of BTC will total $1 trln, which means that the BTC price will skyrocket to $55,000.

 

The next Bitcoin halving is drawing closer

The previous Bitcoin halving took place in 2016. The next one (occurring every four years) is mathematically planned in 2020. The miners’ reward for each new generated block will be cut by two, therefore making BTC rarer and more slowly injected to the market than previously.

Many crypto experts are betting on that to see the Bitcoin price surge immensely. Various predictions have been voiced. People whose job is far away from technical analysis have named the highest figures – Tim Draper and John McAfee. The latter insists that BTC will hit nothing less than $1 mln by 31 December 2020.

However, one of the analysts on Crypto Twitter, PlanB, modestly suggests a mere $55,000 per 1 BTC after the halving takes place in May next year.

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Bitcoin (BTC) Price Breaks Above $8,200 While Bitcoin Cash (BCH) and Bitcoin SV (BSV) Post Even Higher Gains

Bitcoin (BTC) Price Breaks Above $8,200 While Bitcoin Cash (BCH) and Bitcoin SV (BSV) Post Even Higher Gains

Bitcoin’s 600,000th block has been mined

Friday last week was a significant day, whose appearance had been ‘foretold’ by many Bitcoin-wise men – block #600,000 was extracted on the Bitcoin chain. This means that only three mln Bitcoins are left to be mined as 18 mln of them have been minted already.

Some believe that this fact, along with the approaching halving event, will also contribute to the BTC price surging high.

 

What are your thoughts on the impact the coming halving is going to have on the BTC price? Share your views in the comments section below!

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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.

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Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester

  • Alex Dovbnya
    📰 News

    Tuur Demeester wants you to buy the dip as Bitcoin touches the support of its parabolic uptrend for the first time since March

Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester
Cover image via u.today

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.

Tuur Demeester of Adamant Capital has just taken to Twitter to calm down Bitcoin enthusiasts who might have been swayed by incredibly bearish sentiment on crypto Twitter. 

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Bitcoin Price Slashed to $6K. Is This Best Black Friday Sale?

Bitcoin recently dropped to $6,800, its lowest level since early May. However, Demeester apparently sees this as yet another opportunity to buy the dip. He states that top coin's parabolic uptrend that started at the beginning of 2015 hasn't been violated. However, Bitcoin has tapped support for the first time since March when Bitcoin was trading well below $4,000. 

Shortly after printing a huge red candle on the logarithmic chart, the Bitcoin price spiked by 20 percent on Apr. 2, which started the coin's massive run to $13,700. 

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Crypto Analyst Doesn't Expect Bitcoin Price to Repeat Past Halvenings

Crypto Analyst Doesn't Expect Bitcoin Price to Repeat Past Halvenings

As of now, BTC is down by nearly 50 percent from its yearly high, but this might not be the end of the nightmare for Bitcoin bulls. According to trading exert Josh Rager, the crypto king could plunge below the $7,000 level again after a fakeout to the $7,500 range. 

Gold bug Peter Schiff recently predicted that BTC could collapse to $10,000 level after competing the head-and-shoulders pattern.  

At the time of writing, BTC is sitting $7,313, CoinStats data shows. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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