It’s ‘Quite Likely’ That Bitcoin Will Fall To $2K Before A Surge Of 4900%

We haven’t seen any wild price predictions for a while. This is no doubt down to the bulls remaining silence during a market that has sunk through a siege by the bears. As a result of this siege, figures are down. Sadly, there is more to come and some experts do believe that we won’t see a recovery, until Bitcoin finally sinks below $5,000.00.

One expert even believes that before Bitcoin hits $20,000.00 again, it’s going to hit $2,000.00.

After this though, Bitcoin will hit $100,000.00.

This comes from the CEO of ADVFN, Clem Chambers. ADVFN are a financial services company who deal in stocks, FOREX and futures, amongst many other financial assets. According to Ethereum World News, Chambers has said:

“Will bitcoin go back over from its previous high? It will probably hit $2,000 before it hits $20,000 … But will it hit $20,000? I think so. Will it hit $100,000? I think that’s quite likely.”

This statement really does stink of bulls and bears living in absolute harmony. Chambers is quite literally predicting a huge price decreased, followed by an increase of absolutely mammoth proportions. Just to quantify what Chambers is saying here, in order to see this happen, based on today’s Bitcoin price of around $6,750.00, Bitcoin will see a decline of 70%. Then, Bitcoin will climb 900%, from $2,000.00 up to $20,000.00 meeting Bitcoins current all time high, before finally climbing another 400% up to a new all time high of $100,000.00.

$100,000.00 from today’s price would see an increase of 1380%, and an increase of 4900% based on Chambers initial prediction of Bitcoin hitting $2,000.00 first.

Please bear in mind that this is not investment advice. Here, we are reporting on an expert who has both very strong bearish and bullish feelings towards Bitcoin. Indeed, a fall to $2K is possible and likewise, Bitcoin can climb to $20K. In an ideal world, Bitcoin could also climb to $100K but the likelihood of this is very questionable.

Furthermore, in the words of Chambers:

“The blockchain will be the way of the future which will be like the internet was to the generation before. Bitcoin will probably be part of that future in the long term. There’s a shortage of actual money in the world. That’s what people, I don’t think, have worked out. That’s an economic suction going on there, and the cryptocurrencies are filling that vacuum. It will generate an economic lift.”

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Author: Nathan Bentley
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Simon Price

Simon has been active in the cryptosphere for over 7 years and is passionate about new technology. When he's not blogging and trading he can be found catching the surf on his local beach.