Bloomberg Crypto Forecasts Bitcoin Price to Fall Below $2,000, Cites New Excitement Finally Coming


Bloomberg’s Intelligence Agency came out with an interesting prediction this week, reporting that Bitcoin “has further to fail.” According to analysts, Bitcoin is not boring anymore and the price could continue falling to a point as low as $1,500, which would be a 70 percent drop from the current price.

According to Travis Kiling, a hedge-fund founder and inspiration for Bloomberg’s stance, “There’s a small chance that, it’s difficult to estimate, that something really bad could happen related to Bitcoin cash that could then impact the entire crypto market.” Mike McGlone, a Bloomberg analyst, expanded upon Kiling’s argument, stating that the recent condition of the market was due to Bitcoin cash’s hard fork and that the “pump that began a few weeks ago, got the market a bit too offside with speculative longs playing for the good-old days. But this is an enduring bear market.”

Bitcoin’s poor price scheme has reverberated throughout the market. For example, Nvidia also reported that its sales have decreased because of the fewer GPUs needed for mining. Moreover, Rob Sluymer stated that if Bitcoin is to rebound, it will take weeks – if not months. The scene looks quite dire indeed.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide