The BTC Halving Could See a Prominent Bull Market As a Result...

17-Feb-2020

Mike Novogratz recently said that the leading cryptocurrency has potential to reach its all-time high of $20,000. Charlie Lee also made similar predictions and said that bitcoin could follow the same pattern as Litecoin following the event in May. One example of this is the CEO of Galaxy Digital, Mike Novogratz who recently said that the leading cryptocurrency has the potential to reach (and possibly surpass) its all-time high of $20,000 which it reached in 2017. The creator of Litecoin, Charlie Lee also made similar predictions and said that bitcoin could follow the same pattern as Litecoin following the event in May. However, the latest person to comment on the halving is the CEO of ADVFN, Clem Chambers. He recently took part in an interview where he highlighted that the halving will produce a bull market with prices. On top of this, he added that the price for the leading cryptocurrency has been going up at the moment and that it might even go on to continue this momentum following the halving. Walking in the other direction through the halving has got a lot of people talking about the so-called digital gold status that bitcoin has. Bitcoin has become a much more correlated asset with gold than all the other major cryptocurrency in the second-half 2019 which is what’s interesting. Furthermore, last month the correlation between the two assets reached its highest level which continues to story even further. Throughout the interview, Chambers was asked on his thoughts on the digital gold narrative to which he said that it has a lot of characteristics which make it actually better than gold. Moreover, he stated that bitcoin was a much easier asset to have while travelling compared to gold.  He further went on to say: “Bitcoin is something that you can trade and turn into money very, very quickly and very, very easily. And think about it, if you had to leave America tomorrow with say a half a million dollars, how would you do that? If you didn’t have a bank account abroad, and even if you did, how would you get the money to that bank account in these days of KYC and AML? This is making more of a case for Bitcoin.” It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily! read more

Robert Johnson