ADVFN CEO, Clem Chambers shares his view on the cryptocurrency market. Bitcoin might fall below $20,000 or maybe $10,000 in the short term. In the long run, Bitcoin’s price will hit $120,000.
The CEO of Europe’s number one stock and equity website, ADVFN, clarified his views on the cryptocurrency market, Bitcoin, Ethereum, Defi, and other digital assets.
Chambers discussed his views on Bitcoin market conditions and also shared his belief in the short-term movements in the market. ADVFN CEO thinks that since 2011 Bitcoin has gone through a four-year cycle and is now entering a downtrend:
“Every boom-bubble-bust looks exactly the same as the last. You can look that up. It’s the same wave. Every time, it’s a four-year cycle. Here it is again, coming down, and it’s going to come down to well under $20,000, maybe even under $10,000. When it does, I’m going to start buying again”
In addition, he said long-term crypto investors should avoid market fluctuation, rather should continue purchasing over a long period as currency declines. As a whole Chambers indicates a strong route for cryptocurrencies and shows interest in the fact that it may come down first.
He believes, Bitcoin is more than Ethereum as to the information that Vitalik Buterin’s project obtains main updates that may or may not affect the cryptocurrency’s future.
Chambers expressed his gratitude and respect for Mr. Satoshi Nakamoto, who invented the technology.
“I’ll stick to my first choice: Mr. Nakamoto. He’s got $32 billion in Bitcoin, he invented it and nobody knows who he is. I mean, that really is the ultimate”
I’ll stick to my first choice: Mr. Nakamoto. He’s got $32 billion in Bitcoin, he invented it and nobody knows who he is. I mean, that really is the ultimate.
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