Bitcoin hits $11k But Expert Predicts It May Fall to 8k Soon.
Slam Kidd, who is the founder of TheRealisticTrader.com published a tweet to warn the investors.
Bitcoin price has finally returned to $11,000 mark after a week of straddling at the level of $10,000. However, one analyst predicts that it will soon fall again, alongside a hammering of the world stock market.
After hitting the $11,000 mark a few day ago, Bitcoin is now aiming to stay there and continue on the path upwards. At least, that’s what Bitcoin holders hope.
However, the founder of TheRealisticTrader.com, Slam Kidd isn’t so sure about it, as he tweeted yesterday:
BTC is likely to fall to $8000 and the world stock markets are about to take a hammering… pic.twitter.com/IeoEugVAxJ
— Siam Kidd (@SiamKidd) March 1, 2018
If we consider that the new bottom was last month’s $6,000, then can we assume that the threat of the bubble bursting is now over?
The founder of hedge fund Miller Value Partners and multi-millionaire investor, Bill Miller compared Bitcoin with other major inventions throughout history. According to FOXBusiness, he said that what he observed with Bitcoin is that it is following a very honored path of disruptive innovation going all the way back to the railroad, printing press, radio, electricity, the internet and biotech.
Further, he claimed that the market actually needs this bubble in order to find out if we can adopt the idea of this new technology. Also, he stated that bubbles are necessary to bring capital into the market to see if these innovations are going to last.