Bitcoin has started the day in red. At press time, the largest cryptocurrency by market cap is trading at $7,398.76 (-1.89%).
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has dropped to $129.3 (-2.6%), while XRP has fallen by 1.02% and is now trading at $0.193.
According to CoinMarketCap’s ranking, 8 currencies on the top 10 are posting losses.
Popular crypto analyst Tony Weiss has recently said we should not expect Bitcoin to grow by 3,500% as venture capitalist Tim Draper had previously predicted.
According to him, predicting Bitcoin will grow to $250,000 by 2023 is irresponsible. In addition, Weiss added that such statements have no analytical foundation.
He has predicted that even if Bitcoin could slightly recover by the end of the year, its price will probably not exceed the $8,000 level. During the first quarter of 2020, its price could drop to $5,000 as part of its correction from $14,000.
At the same time, Weiss believes Bitcoin price could reach $50,000 by 2023.
Tim Draper has said Bitcoin will begin to grow 6-12 months after its halving and will reach as much as $250,000 by 2023.
The BTC dominance index has fallen from yesterday’s 68.9% to 68.8%.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $194,490,140,232.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.