Bitcoin Price will Soon Hit 11,500 Dollars According to Bill Baruch
Bill Baruch, the President of Blue Line Features who is well known for making correct Bitcoin price predictions, has said that Bitcoin will hit the 11,500 dollars very soon. Baruch foresaw Bitcoin’s slump in December even though many people did not agree with him then. The investor was not scared when the price of Bitcoin dropped from 19,000 dollars to 7,200 dollars. During that period he actually stated that the price would soon hit the 10,000 dollar mark which has already happened.
Bill Baruch believes that the price of Bitcoin will continue to go up because the tax day in the United States has now passed. According to Baruch:
“The path of least resistance is now higher after fighting regulation and tax selling. I believe the Bitcoin sector has much more upside movement in the long run. The immediate upside will be between 11,500 dollars and 11,800 dollars.”
Baruch has also noted that the participation in the current crypto rally is very broad with several altcoins also gaining value. He said that the fact that the market was moving positively is a bullish catalyst for the whole cryptocurrency market.
Bill Baruch has however not been the only optimistic crypto bull about a positive future of digital currencies. Tom Lee who is the co-founder of Fundstrat also forecasted a post-Tax day rally. Lee stated that: “The selling pressure of Bitcoin will be over after April 15th. After that Bitcoin should have a positive surge with no signs of letting up.”
Crypto is Larger than the internet
Another bullish billionaire who has set a positive run for Bitcoin is Tim Draper who has predicted that Bitcoin will hit the 250,000 dollar mark before the end of 2022. Draper said that: “I can see 250,000 dollars for one Bitcoin by 2022 and I believe it. It will happen, and it will be so awesome.” The billionaire has also predicted that
cryptocurrency will rule the world in a few years and will be bigger than any technology that came before it. He went on to state that:
“Cryptocurrency is bigger than the internet. It is bigger than the Iron Age and the industrial revolution. This is because it will affect the entire world and the effect will be faster and relevant than anyone ever imagined.”
Draper has also has had a good track record of Bitcoin predictions. In 2015 he predicted that Bitcoin would hit the 10,000 dollar mark by the end of 2017 which happened. He is a big Bitcoin investor having bought 30,000 bitcoins in 2014 when each was costing 600 dollars, therefore, using a total of 18.5 million dollars. The billionaire is now worth 279 million dollars from Bitcoin at the current price of about 9,300 dollars. He has however not sold any of his investment and has decided to HODL.