New Crypto Twitter Poll: Over 67% Of Participants Think Bitcoin's Price is Going to $9,600 BTC/USD

    A Twitter poll done by Josh Rager, a crypto trader and investor with over 40,000 followers shows that majority of the crypto enthusiasts believe that BTC will continue to push to at least $9,600.

    Every four years, the Bitcoin blockchain network experiences a halving of block rewards which declines the rate in which new BTC is produced by miners. An impactful fundamental factor like the block reward halving is likely behind other factors such as the rise institutional and retail interest because of the sheer momentum of the crypto market in recent weeks.

    Cory Mitchell, a swing trader says:

    “The degree of separation between the short- and long-term moving averages can be used as an indicator of trend strength. If there’s a wide separation, then the prevailing trend is strong. Narrow separation, or lines that are crisscrossings, indicates a weakening trend or a period of consolidation.”

    Regarding the persistence of the bull market, Peter Brandt, a widely recognized trader, said:

    “This is the FOMO phase of the advance. Once the majority of sold-out crypto bulls capitulate and chase this rally a more sizable correction will likely occur, stopping out the same bulls, who are chasing this advance.”

    However, there are some skeptics who are still concerned. Jason Calacanis, a prominent Silicon Valley investor said:

    “My position remains the same. Bitcoin will likely be replaced by new technology & it’s manipulated It’s possible it’s built to last, but not probable, so keep your position to an amount you’re willing to loose For most, that’s 1-5% of net worth It will likely go to 0-$500.”

    However, as of now, the crypto market has shown no signs of an imminent correction and based on the recent momentum of the market, it is entirely possible that the market continues to climb without a substantial pullback as many expected.

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    Sritanshu Sinha
    Sritanshu Sinha
    Sritanshu has a keen interest in emerging technologies, startups and economic anthropology. He holds the view that cryptocurrencies are the best bet humanity has got to push the world towards a borderless economy.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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