Multibillionaire investor Trace Mayer stated that Bitcoin is currently experiencing a price correction and may add value to $115k later in the year.
The severe fall in Bitcoin prices in the past few days has put many investors in serious harm and brought many panic sales.. While some investors who think that there is no stability in the market, decide to withdraw their investments; Experienced analysts were united in the opinion that this was a serious buying opportunity.
Trace Mayer, now multi-billionaire investor, who recommended Bitcoin on websites when blockchain technology was still in its infancy, also spoke on the subject.. Stating that he expects a significant increase in the price of Bitcoin for the next 11.5 months, Mayer stated that the Bitcoin figure may exceed 115 thousand dollars by the end of the year.. Adding that this rise will not reflect the true value of the product, Mayer said:. There the price went from $7 to $266, then down to $90. Now it came from $ 700 to $ 20 thousand, and then it came to $ 9 thousand. Now, with the arrival of new investors and the involvement of Wall Street, I expect a very serious increase.”
After the hacking of the Mt.Gox exchange in 2013 Bitcoin, which experienced a decrease similar to the proportional loss of value it experienced, is trading around 12 thousand dollars at the time of this writing.
Wall Street Money Influenced Mayer’s Thought?
As a person who knows Bitcoin so well, these predictions made by Mayer were of course welcomed by Bitcoin investors.. In the press and social media, it was frequently spoken that the main thing that caused this comment was that Wall Street money would come into play.. With the opening of short and long-term positions, a buying frenzy is expected, while Bitcoin and many famous altcoins are expected to benefit from this.
Mayer said that the real value of Bitcoin is something between 9 and 14 thousand dollars states that. Speaking before Mayer’s statement and the big drop, Fundstrat investor Tom Lee predicted that if Bitcoin exceeds the $20,000 level before June, there may be a big price increase.
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