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Bill Baruch, Blue Line Futures: Bitcoin has more room to grow


Bitcoin’s price dynamics can lead the most popular digital currency to $10,000 a coin, as recently stated by Bill Baruch from Blue Line Futures.

Previously, the same analyst made this prediction during the February lows when Bitcoin’s price was around $6,900. At the press time, Bitcoin does not cost ten thousand dollars, but it is closer to the value than at the time when the initial prognosis has been made.

Meanwhile, Bitcoin has went from $9,400 yesterday to $8,800 today, which equally might be a local correction on the way to $10K or a big trend reversal towards even lower values. The overall market dynamics seems to be a bit bearish at the moment, with most capitalized altcoins losing from 5 to 10 percent on Coinmarketcap. Notably, OmiseGo has atypically grown +25%. This is explained by the positive expectations of investors after the newest rumors about the future listing of this altcoin on a cryptocurrency exchange called Bithumb.

John Pfeffer, another investment analyst, has even more optimistic numbers when talking about the future of Bitcoin: he does not exclude $90,000 and even $200,000 in case the cryptocoin becomes a reserve form of money.

Image courtesy of Free Great Picture


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