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The rise of activity of Bitcoin bulls: opinions’ review

04 May 2018 00:00, UTC   |    2225
The rise of activity of Bitcoin bulls: opinions’ review
By Nick CORY

The start of the new financial quarter has been marked by the rise of optimistic predictions about Bitcoin, as clearly witnessed from the statements widely shared in the social media. John McAfee, creator of the eponymous antivirus program, has once again reiterated his support for the first cryptocurrency, while boasting about his academic degree:

While entrepreneur John McAfee has always been feeling good about the crypto market, some recent Bitcoin bulls have been either calm or less optimistic several months ago, when Bitcoin was falling down. Financial analyst Alexander Kuptsikevich (FxPro) remains careful even today, calling the recent rise towards the values around $10,000 speculative. He notes that the optimistic trend might have been caused by the news from South Korea where officials slowly start to realize what they lost after they have banned initial coin offerings.

In a stark contrast, one of the old Bitcoin enthusiasts Charlie Shrem tells that May 2018 would be the last month we ever going to see this cryptocurrency less than $10,000. Similar words have been said by Robert Sluymer from Fundstrat - he thinks now it’s a good time to bet on crypto assets. The recent poll made by the same organization tells that investors are positive about the phenomenon as a whole.

Although investor Brian Kelly is positive about Bitcoin in the long term, his advice to listen close to the public opinion about the market and act contrariwise is still relevant - Bitcoin may easily fall down after hitting the local maximum of $10,000 when everybody will still await further growth. This happened in December 2017 when Bitcoin cost almost $20,000 and most observers did not mention the possibility of the sudden trend reversal.

Some bulls connect the recent success of Bitcoin - at the press time, it has managed to reach $9,741.42 which is less than $300 away from $10K - to the announcement made by Goldman Sachs. Other observers have serious doubts about the ability of this factor to “get crypto out of limbo”, as Bloomberg finance observer Lionel Laurent puts it. Serious investors would think twice after what they saw in winter last year, the expert insists.

Anyway, the $10K seems like a reachable price at the press time, but some occasional drops are absolutely not excluded during this year. There are still many criminals operating in the sphere and sometimes technologies become breachable.

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