Is it Real Another Bull Run for Bitcoin?
More than 2 weeks Bitcoin has been stuck in a tight trading range. It was unable to set any progress in price on the back of negative news and some threats to regulate the asset.
Some are even calling the currency a fraud and say once this situation is exposed, bitcoin could become worthless, leaving investors holding the bag and 100% out of pocket.
Bitcoin has managed to find strong support between the $5,600 and $6,000 after all of these threats, which shows that not all investors believe it is headed for an ending situation.
Daniel Worsley Chief Operating Officer of LocalCoinSwap is one of those names who believe the negativity surrounding bitcoin is overdone and it has withstood all the above.
Now he thinks it is possible that this tight trading range over the last couple of weeks is the calm before the storm and the currency may be gearing up for another massive bull run. Mr Worsley says:
“There is no other network that has been as battle tested as the Bitcoin blockchain.”
“It has resisted serious adversaries, and coordinated attacks designed to disrupt its functioning. It has survived all assaults. It wouldn’t surprise me at all to see the price above $20,000 USD this year ”. He added.
Also Mr Worsley noted that some good news will clearly offset the negativity and this should be the spark for the predicted bull run.
Especially given the amount of negative press which is now priced in, and investor expectation of another bull run, it will only take a couple of positive developments to set off the train.” He said.