Bitcoin is still currently above the $10,000 price level and even though it has dropped much closer to the mark than it was before, current sentiments are extremely bullish.
There’s still a considerable number of people who believe that it’s only a matter of time before Bitcoin hits its current all-time high, and probably a new one. Another bullish forecast has now been expressed, joining an already large pool of enthusiasts, who have admirable faith in the king coin.
William Mougayar (@wmougayar), took to his Twitter to post his predictions about eleven different cryptocurrencies before the year runs out. His list included Bitcoin (BTC), Ether (ETH), Ethereum Classic (ETC), Binance Coin (BNB) and EOS as well. However, the predictions for Bitcoin, Ethereum and BNB as well, seem worthy of note.
Mougayar predicts that not only will Bitcoin hit its current all-time high of $20,000, it will also surpass it and head all the way to $25,000 before the year runs out. This leaves just a little over three months for Bitcoin to more than double its current value. He also believes that ETH will hit $1,000 and BNB will end the year at $50.
The very nature of the cryptocurrency market makes accurate price predictions almost completely impossible. This instability is one of the reasons touted by many naysayers as a reason why cryptocurrency should not be placed in high regard at all. However, this same reason makes Mougayar’s predictions not only sane but also possible as well.
Several reactions to the tweet have poured in with most analysts agreeing that it’s only unlikely but not completely impossible. Popular crypto trader, Bitcoin Jack, believes that there’s a chance because “Bitcoin will be Bitcoin.” Regardless of the general sentiment towards the forecast, something else could be considered.
Again, Bitcoin’s current all-time high is $20,000. Based on this and also the fact that Bitcoin has been known to surge by unprecedented percentages, a $25,000 mark doesn’t seem too wild.
This same logic could even be better applied to ETH as well when you consider that it hit $1,432 early last year, its current all-time high. However, BNB might be a different ball game. Currently trading just a little over $21, BNB reached its $39.5 all-time high a few months ago. Using the same logic as above, we could surmise that BNB AT $50 is possible, but not before 2019 runs out.
Regardless, price swings have been known to confuse even the most detailed analysts so for the sake of the entire market, we hope Mougayar’s forecast pans out.
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