April 21, 2024

Tuur Demeister: “Bitcoin could fall to $ 5,000 during the current consolidation”

Adamant Capital partner Tuur Demeester believes that during the current accumulation phase, the Bitcoin rate maydrop to $ 5,000.

Demeister emphasized that during the bullish trendlong-term investors continued to keep their bitcoins while a new class of investors was created. Buyer pressure was very strong, but the market was ahead of itself and Demeister believes that a new phase of accumulation is beginning.

“After the rally, the market needs a break. Investors need a break, because this is the only way you can go even higher, ”said Adamant Capital partner.

Thus, the market needs to “drop off passengers andweak investors ”before a new leap. Therefore, there is a high probability of a noticeable decrease in the rate of bitcoin. At the final stages of the accumulation phase, according to Demeister, the price of the first cryptocurrency can drop to $ 5,000. Moreover, even in this case, in 2019, the growth of bitcoin will be 40-50%.

The words of Tuur Demestra echo the opinion of the top manager of the BitBull Capital cryptocurrency fund, Joe DiPasquale. True, he believes that bitcoin can only drop to $ 6,000.