Bloomberg: Bitcoin Price May Hit $400K Due to Fundamentals, Not FOMO

Bitcoin’s improving fundamentals and the arrival of institutional investors could impact the volatility and price action of future rallies and corrections.

The Nature of Bitcoin Rallies will Change

Aaron Brown, the author of a recently published op-ed in Bloomberg, believes that the next sustained Bitcoin rally could be more measured as it will be propelled by fundamentals and global financial events rather than FOMO.

According to Brown, the boom and bust nature of the cryptocurrency market is not likely to change immediately and if future price action mirrors previous bull markets then Bitcoin could rise to $60,000 to $400,000 before declining sharply.

Brown argues that the last two rallies in 2013 and 2017 were primarily driven by retail investors and that 2019 is different as…

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