Crypto Pioneer Mark Jeffrey is Sure that Bitcoin will Reach $250k, and Here’s Why

in #appics5 years ago (edited)

Jeffrey remarked that cryptocurrencies are much like the early Dotcom industry, echoing remarks made by a number of analysts, such as Meltem Demirors. Yet, he noted that this budding space is compressed time-wise in comparison to Dotcom, explaining that development in this space is four to five times faster than Internet-enabled digital technologies. Thus, crashes and rallies are only accentuated and amplified.

He said:

“This is very much like the dotcom boom and bust cycle that we saw in the late 1990s, early 2000s. We’ve just gone through the analogue of that cycle in the crypto universe in a compressed timeframe. So in the dotcom boom and bust cycle it was about four and a half years, maybe five years. In the crypto world, it was about a year and a half.”

Bitcoin and Crypto Markets Cooling Off
Mr Jeffrey says in 2017 and early 2018 people made the mistake of becoming caught up in the crypto investment mania.

He said:

“I think people got very over exuberant and maybe extended themselves a little bit too far, and then they got scared. And don’t forget that the (traditional) markets have also experienced a lot of crashing and volatility so it’s not isolated to just crypto.”

This, however, was not the end of his story.

“This is the middle part. This is the second act. The third act is Return of the Jedi and we’re not there yet. That is coming.”

Tom Lee Also Has a Bullish Forecast for BTC
Fundstrat’s co-founder and head of research also has great predictions for Bitcoin by the end of the year. In a tweet, he presents his thoughts and motivations for which BTC is set to surge by the end of 2019.mark-jeffrey-bitcoin-btc.jpg

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