[2022-07-11] Bloomberg UK - Bitcoin Is More Likely to Hit $10,000 Than $30,000

[Wilhelm]

These analysts have had years of brainwashing on how fiat-ponzi-economies work and legitimately think crypto is the same. They probably view Bitcoin like a stonk that will react like all other stonks in a recession.

This is where you're deeply mistaken, so drop the tinfoil hat, please.

Whenever I see an article I first look if is in the "opinion" section, if it's a paid article or if it's by a regular author of that website.
In this case, the analyst are actually dedicated to crypto, you can see even the links to their Twitter profiles in the article:
https://twitter.com/emilyjnicolle
https://twitter.com/isabelletanlee

Seriously, this attitude of everyone who doesn't see 300k by tomorrow is paid by the banking cartels is sooooo yesterday!

Simple math tells that in the previous cycles the price has fallen
* from ~1170 ATH to ~150 bottom. 7.8 times
* from ~19900 ATH to ~3100 bottom. 6.42 times

This makes numbers like 8846 or 10750 look possible.
On the other hand, let's go linear: 7.8 - 6.42 = 1.38; 6.42 - 1.38 = 5.04 => (69000 / 5.04) 13690 looks more possible than the other variants.

Following that model, I would be more concerned with the ATH than the bottom
From ~1170 to  ~19990 is 17 times
From ~19990 to ~69045 is 3.45 times
If we go linear is impossible, so we would have to go by a 70% increase at maximum for the next ATH, I'm quite sure that 99% of the users would hate that more than a dip down to even 5000.

I've been dedicatedly analyzing crypto since 2013. Still I don't consider myself to be an expert. I don't think anyone is an expert on crypto, because it's very volatile.

Bloomberg has been predicting 400k and now 10k which are both insane. It would suit them better to keep some consistency in their predictions, that's all I'm saying.

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[Franctoshi]

Bitcoin Is More Likely to Hit $10,000 Than $30,000, Survey Finds

The more likely people think we're going to the down side the less likely it becomes, this is the same thing that happened at the top of the market when Bitcoin were trading around $69k almost everybody thought Bitcoin was going to the moon and people were predicting $100k price target for BTC , but the market eventually turns around and oppose their opinions, I think same thing is currently happening now I equally saw in the news wallstreet guys predicting more downside some time it looks like a strategy to induce fear in the market and cause more panic selling in order for them turn around the market and drive it up.
The more fearful investors become now more healthier it is for Bitcoin to recover.

[wiss19]

Bitcoin likely to hit 10k than 100k is I think much better title but if that is the case that more bigger dips are coming through then fine, we already expected this anyway long time ago because the market is always been like this for a long time now. The survey is based only on those investors. They may have some knowledge in regards with this market but that wasn't enough. They are still a human with no special ability to accurately predict what the price will be. If this survey was done outside then 60 percent will agree that the price will head in an upward position and the rest 40 percent still believes that there are few dips left.

The token is more likely to tumble to $10,000,

Token? No but btc is a coin. Right terminology is must even survey/articles are conducted/written by outside people.

[Johnyz]

If Bloomberg said it, then it is going back to $30k.

What’s good about Bloomberg?
Well, it will definitely going back to $30k in the right time and no one knows if we can still reach that level this year. If Bitcoin able to break the resistance level, most probably the peak will become more stronger and that could be the time to see good volumes. The analysis is saying for a more dump price, most likely we might see that level if Bitcoin fails to sustain its level right now.

[Silberman]

Again, this is just the repeat of the 2018 bearish market wherein we heard a lot of this social media businessweek magazine like Bloomberg, predicting how bitcoin will fall with this x number etc etc.

So I'm not surprised, and at the same time, will not blame them. It's their job to create this click bait article. But for those who have followed crypto and bitcoin for at least 4-5 years now, everything is possible, if it hits $10k, then take advantage of it and buy more BTC in our pockets.

True, I cannot get even mad at them because if I was in the same position as them then it is likely I would do something similar, after all it is FUD that almost writes itself and it is very easy to spread, however we must not believe everything that we read on the mainstream media, because even if that prediction became true that low price should not be a motive of depression but of joy, as I really thought that is a price I will never be able to see again.

[Jating]

Again, this is just the repeat of the 2018 bearish market wherein we heard a lot of this social media businessweek magazine like Bloomberg, predicting how bitcoin will fall with this x number etc etc.

So I'm not surprised, and at the same time, will not blame them. It's their job to create this click bait article. But for those who have followed crypto and bitcoin for at least 4-5 years now, everything is possible, if it hits $10k, then take advantage of it and buy more BTC in our pockets.

True, I cannot get even mad at them because if I was in the same position as them then it is likely I would do something similar, after all it is FUD that almost writes itself and it is very easy to spread, however we must not believe everything that we read on the mainstream media, because even if that prediction became true that low price should not be a motive of depression but of joy, as I really thought that is a price I will never be able to see again.

Right, not all been written is true in social media, that's why we have "fake news", or something that is not validated, specially in crypto related media wherein everyone can right a content and publish and then it looks like some experts wrote it or something. But if you look a it, it's pure FUD, the only thing is that if the price hits $10k-$15k, that will be the perfect opportunity for us to rebuy because we might not see this price for a long time.