[2018-09-25] Financial Expert Pinpoints Signs Confirming Bullish Bitcoin Sentime

[Jgilpulg]

Kline’s predictions are in line with those of billionaire investor Marc Lasry, who also forecasts that the Bitcoin price will reach USD $40,000 in a few years.

https://bitcoinist.com/financial-expert-pinpoints-signs-confirming-bullish-bitcoin-sentiment/

[reactorjuno]

Hi and thanks for posting,

You wrote "in a few years" but the article says at the end of 2019 
"the SEC will approve a Bitcoin Exchange Traded Fund (ETF) soon." and in that case I agree BIG TIME about a price of $40,000.
Interestingly, a very influent voice in the cryptoworld (Andreas Antonopoulos) also believes the ETF is going to happen soon or later, can't wait to see the epic impact on Bitcoin price.

[magneto]

Kline’s predictions are in line with those of billionaire investor Marc Lasry, who also forecasts that the Bitcoin price will reach USD $40,000 in a few years.

https://bitcoinist.com/financial-expert-pinpoints-signs-confirming-bullish-bitcoin-sentiment/

The thing is that these financial experts do not always make correct predictions.

Right now, there are still no apparent bullish signs in the short term. This is not the case in the long run obviously as adoption increases, prices will naturally increase since bitcoin's supply is limited and hard coded within the system.

But this prediction that they have made is not realistic in my opinion given a timeframe of only a "few months" to a year or so, which seems far fetched for now as we see all this bearish sentiment within the market which doesn't seem to be going away any time soon. The ETF decision, if approved, could have a bullish impact on the market, but even that was postponed.

[1BTC EQUALS 1CAR]

Last year, forks became the catalyst to the  great pump of the prices of cryptocurrencies. So right now, I highly believe that ETFs are now the key this time to trigger another record-breaking bull run. Bull run is always a surprise and it always want us to completely lose hope before it comes out and start .

[reactorjuno]

Kline’s predictions are in line with those of billionaire investor Marc Lasry, who also forecasts that the Bitcoin price will reach USD $40,000 in a few years.

https://bitcoinist.com/financial-expert-pinpoints-signs-confirming-bullish-bitcoin-sentiment/

The thing is that these financial experts do not always make correct predictions.

Right now, there are still no apparent bullish signs in the short term. This is not the case in the long run obviously as adoption increases, prices will naturally increase since bitcoin's supply is limited and hard coded within the system.

But this prediction that they have made is not realistic in my opinion given a timeframe of only a "few months" to a year or so, which seems far fetched for now as we see all this bearish sentiment within the market which doesn't seem to be going away any time soon. The ETF decision, if approved, could have a bullish impact on the market, but even that was postponed.

There are no apparent bullish sign in the short term, agree. But the analyst relies on the ETF to be accepted, that's why I am convinced there is some sense at least in his prediction. Of course if the ETF does not happen next year, we will never see that price.

[Kemarit]

Hi and thanks for posting,

You wrote "in a few years" but the article says at the end of 2019 
"the SEC will approve a Bitcoin Exchange Traded Fund (ETF) soon." and in that case I agree BIG TIME about a price of $40,000.
Interestingly, a very influent voice in the cryptoworld (Andreas Antonopoulos) also believes the ETF is going to happen soon or later, can't wait to see the epic impact on Bitcoin price.

I thought Andreas Antonopoulos was totally against ETF as this will give the custodian so much power?

@1BTC EQUALS 1CAR - the split was just one catalyst of the massive bull run we witnessed last year. I believed that Japan entering the picture started it and then followed up by several events like the fork, and completed by the CBoE and CME bitcoin future contract offerings.

I tend to agree that ETF imminent approval will trigger another break out run. But I wouldn't just depend on that news. We might see other events that will breathe fresh new life in the market not just this ETF's.

[BitHodler]

I thought Andreas Antonopoulos was totally against ETF as this will give the custodian so much power?

He is against ETFs, but he also said that there is no way to avoid them as it is only a matter of time before one will be approved, which seems to be a more than realistic perspective from his side.

Regarding the custodian power, I'm not so sure how much that matters. Why isn't he worried about Xapo's custodian power with how they stated that they hold like $10 billion worth of Bitcoin somewhere in a bunker?

the split was just one catalyst of the massive bull run we witnessed last year. I believed that Japan entering the picture started it and then followed up by several events like the fork, and completed by the CBoE and CME bitcoin future contract offerings.

Don't forget South Korea's entrance. It was truly a perfect bull run year in each and every way. Don't think there has ever been a time where we had so many bullish triggers as in 2017. No wonder the price went to the moon.

[pixie85]

Once the SEC approves Bitcoin ETFs

And once again this bullish sentiment comes down to the ETF decision. CBOE ETF just got delayed until the end of December. Is that when we are going to finally see the bullish sentiment? And what if it doesn't get approved by then and again postponed until March 2019? Are we going to wait until March for bulls to wake up? These experts don't make much sense.

[Slow death]

Now we are going to enter again in the price forecast season and it is always very high prediction. this reminds me of last year when they ( experts ) said that this year the price of bitcoin would easily reach 40,000 $, I myself believed in this forecast and I bought when the price was $ 17000, but here we are at $ 6500. So now we have this:

In a Forbes article, Chris Kline identifies these Bitcoin bullish signs and predicts that “the price may well surpass $40,000 by the end of 2019 and could continue to climb as we enter 2020.”

 “the price may well surpass $40,000 by the end of 2019 and could continue to climb as we enter 2020.”

current price: $6500

the end of 2019: $40,000

$40,000 is a very high price, in my opinion.

[jamids]

Hi and thanks for posting,

You wrote "in a few years" but the article says at the end of 2019 
"the SEC will approve a Bitcoin Exchange Traded Fund (ETF) soon." and in that case I agree BIG TIME about a price of $40,000.
Interestingly, a very influent voice in the cryptoworld (Andreas Antonopoulos) also believes the ETF is going to happen soon or later, can't wait to see the epic impact on Bitcoin price.

When the ETF is approved if ever, there is a high possibility that bitcoin would jump in price but then the question would still be if it would be sustainable. I would prefer it to grow in organic way rather than being pumped by a news. ETF would be a big help though in pushing the price higher and encouraging more investors to be part in cryptocurrency world and taking the attention of more people. Many are not happy with the rate currently especially those who invested last December so this would be a redemption for them.

[reactorjuno]

Hi and thanks for posting,

You wrote "in a few years" but the article says at the end of 2019  
"the SEC will approve a Bitcoin Exchange Traded Fund (ETF) soon." and in that case I agree BIG TIME about a price of $40,000.
Interestingly, a very influent voice in the cryptoworld (Andreas Antonopoulos) also believes the ETF is going to happen soon or later, can't wait to see the epic impact on Bitcoin price.

I thought Andreas Antonopoulos was totally against ETF as this will give the custodian so much power?

@1BTC EQUALS 1CAR - the split was just one catalyst of the massive bull run we witnessed last year. I believed that Japan entering the picture started it and then followed up by several events like the fork, and completed by the CBoE and CME bitcoin future contract offerings.

I tend to agree that ETF imminent approval will trigger another break out run. But I wouldn't just depend on that news. We might see other events that will breathe fresh new life in the market not just this ETF's.

As BitHolder said, Andreas A. is against the ETF because it is against the original spirit of Bitcoin, but he also said it would eventually happen anyway, which would indeed damage Bitcoin in the long term, but would be a benefit in the short term for those who only care of the price (which is still to this day the case of the big majority of holders).