Bitcoin ( BTC) rates have been falling in the last seven days, as BTC has fallen 2 per cent total this past week. The value bounces back and forth from $8,800 to a touch of more than $10k per BTC. At the time of writing on Sunday, June 27, 2020, the price has fluctuated between $9,010 and $9,150 over the last 24 hours.
The $165 billion market valuation still accounts for 63 per cent of the total market valuation of all 5,000 + crypto assets. Given the slowdown, many observers anticipate the bullish streak to come to life in the immediate future. On Sunday, Willy Woo (@woonomic), the well-known Bitcoin Chart Analyst and Hypersheet co-founder tweeted that he was creating a new price model for Bitcoin.
"This is a revolutionary concept that I'm working on, it's the origin of exponential bullfighting," Woo tweeted. "Bitcoin established a bullish run until the COVID white swan killed the party. This theory suggests that we're close to another bullish run. Perhaps another month to go, "he added.
Other Bitcoin proselytizers also disagree with Woo 's prediction, as Tone Vays told the International Business Times (Ibtimes) there is a possibility that "bitcoin's price will not surpass $10,000 by 2021."
"As I've been telling for months now, I have no excuse to step away from my forecast earlier this year that bitcoin is going to get trapped between $6,000 and $10,000 for the rest of this year," Vays said to the news site. Of course, Ibtimes even listed that Vays expected a $2,800 plunge before the payout was halved, but the analyst 's prediction never occurred.
Source: Bitcoin.com
