Bitcoin Price Crash: ‘btc Fortunes Will Change!’ – Analysts Predict Huge Surge In Weeks express.co.uk

BTC has fallen to its lowest price since October 2017. Following the price crash, numerous bitcoin analysts have predicted a bounce back in value. Some forecasters are bullish in their outlook in anticipation of a major market turnaround.
Adam Back, co-founder of the blockchain firm Blockstream, gave an explosive prediction, saying BTC would experience a meteoric rise in value “in the years ahead”.

He said on Twitter: “Personally I consider $250k-$500k/BTC plausible in the years ahead.”

Mr Back was responding to fellow bitcoin enthusiast Bobby Lee, who speculated the overall value of bitcoin could overtake the value of gold in the coming years.

Mr Lee’s views are mirrored by bitcoin economist, Dr Saifedean Ammous, who told Express.co.uk bitcoin could one day allow the world to return to the so-called “Golden Era of capitalism”.
Dr Ammous explained bitcoin – the “hardest money on earth” – allows the technology to recreate the Gold Standard, which he maintained was responsible for the single most significant period of innovation in human history.

The world has never prospered in the same way since it operated under the Gold Standard and bitcoin will one day allow us to return to a similar system, the author argued.

Bitcoin’s recent slump in value also failed to deter the bullish outlook of Fundstrat co-founder Tom Lee, who revealed he expected the digital asset to reach $15,000 (£11,733) before the end of 2018.

The Wall Street strategist told CNBC on Tuesday: “There are a few things that could happen that could drive that.

“But this past few days has definitely been a negative development because we are talking about breaking to the downside of momentum.”