Cardano Founder - "Crypto is unstoppable, Bitcoin will hit $100k"
The Cardano Founder doesn't think the recent drop in prices is anything to worry about
Charles Hoskinson, the co-founder of Ethereum and creator of Cardano says that he is very bullish on bitcoin and crypto still.
Specifically, he thinks that bitcoin will bounce back over $10k shortly, and eventually be over $100k as well.
He blames the recent drop on market manipulation as well as a lot of FUD (fear uncertainty and doubt) in the media.
As such, the sentiment surrounding bitcoin and crypto is at pretty fearful levels:
(Source: https://alternative.me/crypto/fear-and-greed-index/#share-fng)
*That is a pretty neat link btw, you can embed the "fear and greed index" and it automatically updates on your page
Why is Hoskinson so bullish?
Hoskinson said that he is so bullish because bitcoin is more than just a speculative play thing.
It's more than just a gambling tool.
It's a global movement.
Specifically saying:
“Bitcoin's price is going down? Remember everyone, after the FUD, news trading and manipulation clears out, we still have a global movement that's going to change the world. We will see 10k btc again and welcome 100k. Crypto is unstoppable. Crypto is the future.”
(Source: https://cointelegraph.com/news/crypto-is-unstoppable-bitcoin-will-hit-100k-says-cardano-founder)
Interestingly enough, Hoskinson said in an interview a while back that if bitcoin were to somehow fail, he thinks the entire industry would likely fail as well.
My thoughts...
I agree with him.
I think this recent dip will be short lived and prices will be back above $10k within the next few months.
I fully expect bitcoin to be north of $10k by the halving in May of next year and likely well on its way to new highs within a few months there after.
All the past patterns and trends are pointing towards an imminent bull run.
In fact, even this latest drop is still in the realm of what to expect during its 4 year price cycles.
If those continue to play out like they have thus far, this may be the lowest price we see bitcoin for a long time, possibly ever.
Stay informed my friends.
-Doc
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Peter Brandt seems to think its back to the bear for 2020, not all time highs Thats what I have been suspecting for some weeks and have been acting as if that is a possibility. The charts may still say bull (and I am not certain that is true) but sentiment is seems to be becoming more bearish daily and in the end sentiment will probably win out.
I am betting on new all time highs in 2020, though I think they come towards the middle/end of 2020 as opposed to the beginning like some are predicting.
Certainly do hope you are right. Although there sure is a lot of btc price target goal post moving going on of late, which doesn't inspire confidence.
Agreed. Though, I look at it a lot like the Binance CEO said a while back... these price predictions are likely pretty easy to make, it's just the timing them that's the hard part. New highs soonish and $100k at some point in the future afterwards. :)
Everyone wants to think that we are on the downhill just before the big uphill... But no-one can really say when we are past the equilibrium that signals the big uphill is imminent...
Correct, which is probably why he refused to give a specific time frame. Just sometime.
People tend to make themselves look total fools when they start guessing how markets work... Even people with years of trading experience can't predict exact moments with absolute accuracy... Markets are like weather, one ignored variable can totally mess up predictions.
Personally I think markets eventually lean towards Nash equilibrium, but that will last for only short period of time and after that the markets behave randomly again like in Braess's paradox.
Yep. Usually the predictions are taken out of context as well though, which makes the people look foolish. Tom Lee for example says something like, "if the past halving cycle repeats, we would see new highs in bitcoin by August of next year."
Then the media prints... "Tom Lee says Bitcoin will see new highs within a year!"
Which isn't exactly what he was saying...
Exactly... It's like media wants to be optimistic, as in it is very likely that past halving cycle will repeat, essentially they are mixing their own speculation with what Tom Lee -- or other people -- have said.
let's see it before 2020🎉🤞
Ha. Perhaps before 2021 or 2022?