Hello! I’m Alice Amber. You’re watching Crypto market news. Bitcoin has hit its lowest price point
since October 2017, stabilizing at $5 550, according to the Coinmarketcap. But decline continues. On Tuesday the world’s largest cryptocurrency dropped to $4 392 Bloomberg intelligence analysts predict the Bitcoin price could fall to $1 500. It would indicate more than 17% drop from current levels. Analyst Mike McGlone continued the argument,
saying that the recent market crash “was sparked by the pump for the Bitcoin Cash hart fork”. Meanwhile Tommy Lee, co-founder of Fundstrat Global Advisors is betting
on Bitcoin’s recovery. He lowered with his year-end target to $15 000 from $25 000. Much of that price movement was driven by the “crypto specific” events,
including the hard fork of Bitcoin Cash. Llew Claasen, the executive
director Bitcoin foundation has recently shared a similar opinion. According to
him, by the end of this calendar year Bitcoin will be trading at around $40 000.
He further added that 90% of the cryptocurrencies will actually fall.
Blockchain technology expert Mr McLeod told The Independent that we can expect
Bitcoin to lose 50% of its cryptocurrency market share to Ethereum, its nearest rival, or Stellar within five years. The Fundstrat Global Advisors analyst Rob Sluymer predicted that it will take “weeks if not months” for
Bitcoin to rebound from this damage. What’s your BTC price prediction for the
nearest future? Leave your comments below. You’ve been watching Crypto market news. Subscribe to our channel and don’t forget to click the bell not to miss the
most important news and trends of crypto. I’m Alice Amber. Goodbye.