After a significant surge, Bitcoin (BTC) has suffered a pretty strong correction just recently as you probably know by now.
At the moment, the most important crypto in the market is trading in the red on CMC and it’s priced at $10,609.74.
There have been a lot of BTC-related predictions these days, and despite the correction that the coin has suffered these are getting more bullish with each passing day.
For instance, trader and analyst Tone Vays said that if BTC can break past $11,050, there’s little preventing that BTC takes a larger share of the overall crypto market and surges to $14k in the short term.
“If this breaks to the upside, there is absolutely nothing on a weekly chart that is acting as resistance. And then it’s very likely that Bitcoin will accelerate to the upside into the halving,” Vays said.
He continued and explained, “There could also be an additional catalyst to Bitcoin. If Bitcoin starts to rise once again faster than the shitcoins, which it probably will, there will be additional exodus of shitcoins into Bitcoin.”
BTC to suffer a correction of 80%
The Daily Hodl reported that Vays also issued a word of caution saying that he believes Bitcoin’s big rise in 2019 will suffer an 80% correction.
“I still believe that this is an unreasonable exponential rise in the price of Bitcoin, and Bitcoin is going to correct. It is going to correct on par of an 80% correction. Can that correction begin from $40,000? It could.”
BTC adoption on the rise
In other news, BTC adoption has been intensifying.
Ethereumworldnews has recently reported that there’d been a huge growth in the use of crypto ATMs at a global level.
“It is estimated that these machines have now hit the 5000 milestone. In contrast, there are over 3 million functional traditional ATMs in the world today. It is estimated that there will be 4.3 million conventional fiat ATMs around the globe by 2020.”
Fergus Reynolds joined Crypto Daily Gazette as managing editor in January of 2018 and is helping to lead the digital media startup’s next phase of expansion. A veteran business journalist with more than 10 years experience economics, Fergus has published content for Huff Post and Buzz Fee and was among the earliest journalists covering bitcoin and the innovations it later inspired. Fergus tells us he has “several” bitcoins.