Todd Gordon Selects Bitcoin 2nd In CNBC Stock Draft
Bitcoin has become the largest debate of the 21st century. Several believers expect more than a 50 per cent shoot to the moon, while others only view it is a bubble that is certain to burst without any value tied to it. With the different predictions and hopes in place, last night’s CNBC Stock Draft had their own perspective shared, which was definitely interesting to watch.
Todd Gordon, who is a CNBC contributor, was asked what he believed his second pick of the year was and he strongly suggested it to be Bitcoin. In recent times, the cryptocurrency market has experienced a continuous downfall that had many disappointed and, eventually, inducing them to sell out of the market.
Fortunately, like Gordon, several believed in the digital technology and held tight to their assets. What was Gordon’s response to the downfall? He took it positively as he believed that, “while the price got cut in half, stability has found its place… we’ve already broken downtrend resistance.” Clearly, he is hopeful that Bitcoin will experience growth, as it has apparently reached the lowest it possibly could have. However, his claim of potentially reaching a 40 to 50 per cent growth was refuted by CNBC’s Stock Draft Analysts.
Jim and Guy, who are analysts from the Stock Draft do see a potential in the rise of Bitcoin, to an increase by at least 20 per cent, but the question becomes, whether one can consider it a worthy winning. Both analysts strongly believe that there are other coins that can beat Bitcoin’s success. Will Bitcoin really surpass like Gordon strongly believes? Will other coins over stage Bitcoin? These questions will have to be kept in the back of one’s mind until some clear indication is provided within the cryptocurrency market trends.