The cryptocurrency market has been bearish for ages, with ever-decreasing prices. Bitcoin, which was once worth almost $ 20,000, is worth $ 3,636 at the time of writing and still appears bearish despite a brief rebound. However, more and more positive voices are emerging from consultants and analysts.
For example, Fundstrat published a report in which it indicates that 2019 might be the year of the turnaround. A number of important factors would improve, resulting in any bullish sentiment in the crypto market.
After a sudden revival with the entire top 100 showing green figures, more and more investors wonder whether a bull market is around the corner. At the moment it does not look like it is, but the signals are starting to become more positive.
A well-known Bitcoin fan and co-founder of poolin crypto mining pool, Zhu Fa, expects the bitcoin price to rise to $ 740,000 during the next bull run:
Bitcoin price will be in the range of 500,000 yuan – 5,000,000 yuan ($ 74K- $ 740K) during the next bull run.
In addition, Bitcoin pioneer Mark Jeffrey compares the current situation with the dot-com bubble:
So the dot-com bubble snapped after four and a half years, maybe five years. That cycle for crypto takes about one and a half years. A lot faster.
Nevertheless, he is positive about the future. For example, he made a prediction that bitcoin could be worth $ 250,000 at any given time. Many crypto enthusiasts often make predictions in which they call huge prices. It remains, however, guessing what exactly will happen, unless of course you have a glass ball!