Trader Says Bitcoin Price to See $10,000 BTC/USD by Year’s End, Crypto Twitter Analysts Weigh In


Bitcoin (BTC) has been in a bullish trend in the last few weeks. The digital currency moved from $4,200 up to $5,300 and it was able to remain above $5,000 for around two weeks. Because of this reason, the sentiment in the market is changing and Bitcoin could reach $10,000 by the end of the year according to what a trader says.

Bitcoin (BTC) Could Reach $10,000 USD By Year's End

According to Clem Chambers, the chief executive of ADFN, explained in a recent article that the cryptocurrency bear market is over and that Bitcoin could eventually rally as a result in the near future. In the article, he says that there has been an increased issuance in Tether (USDT) that could help Bitcoin increase in price.

Money moving towards Bitcoin and virtual currencies is what helps prices grow in a sustainable and fast way. Chambers says that as Bitcoin remains in an inflationary scheme, money must keep flowing into the space every single day to sustain its price.

At the moment, Bitcoin has an inflation rate per annum of 3.79%, more than the inflation rate experienced in developed countries. Nonetheless, the inflation rate of Bitcoin is going to fall down to 1.8% after the next halving. This inflation rate would be sustained for a period of around 4 years until 2024.

Bitcoin miners receive 12.5 BTC each time a new block is found. The next halving, Bitcoin miners will be receiving 6.25 BTC per block. If money flows into Bitcoin and virtual currencies as it has been doing in the last months, the price of the digital currency is expected to grow.

Chamber says that if Bitcoin is able to take 20% of gold’s market share, Bitcoin would clearly surpass the old time high of $20,000, which has been registered in December 2017.

About the bear market, Chamber wrote:

“Bitcoin winter is over, the price is going up, the only question is how high. For no $6,000 is an easy target and $10,000 a coin this year is not such a hard target. I’m still accumulating.”

There are other experts and crypto enthusiasts and analysts that believe that Bitcoin could keep growing in the future. Tom Lee, Fundstrat Global co-founder, mentioned that the winter is done and dusted. Tom Lee is known in the market as a permabull, thus, he has always commented in a very positive way about Bitcoin and he is always bullish about it in the short and long term.

He has also mentioned that the Misery Index, that weighs several factors to understand Bitcoin’s investment sentiment, reached 89 points, which means that people are very happy about it. Specifically, the market reached that level on April 2nd, when Bitcoin surpassed $5,000.

Lee explained that this is the highest point since June 2016 and it could be very positive for the future of the digital currency. In general, the Misery index falls during bear markets.

Crypto Twitter's BTC/USD Price Prediction Forecasts

The general sentiment seems to be everyone playing and weighing out both sides of the coin, knowing there is a real possibility the bear market is over yet could be a final shaking of the proverbial bitcoin-money tree.

While you can always count on #CryptoTwitter to weigh in its bitcoin price predictions, there is usually a healthy mix of optimism and skepticism.

What are your guys thoughts about the bitcoin pricing bottom already being in? While no one can be certain and markets react how they are going to react, but many experts and professional traders are shooting their shot by earmarking their belief that the $BTC bottom has already gone and passed.

And lastly we will include notorious crypto chart analyzer, Josh Rager, and his semi-hot luke-warm $BTC short term forecast:

At the time of writing this article, Bitcoin is being traded around $5,220 and it has a market capitalization of $92 billion.In the last 24 hours, Bitcoin grew 2.32% according to CoinMarketCap.

Live Bitcoin (BTC) Price:

1 BTC/USD =$48,940.5330 change ~ 5.81%

Coin Market Cap

$912.37 Billion

24 Hour Volume

$20.25 Billion

24 Hour VWAP

$48.31 K

24 Hour Change

$2,842.59

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