Yesterday, Fundstrat’s Tom Lee has reaffirmed his $30,000 Bitcoin price target by December. But, other permabulls are not as optimistic as Lee about the short-term trend of Bitcoin.
In May, BitMEX CEO Arthur Hayes stated that he would like to see the BTC price fall to the $5,000 region before recovering and initiating a 2017-esqe rally to ensure that the market does not expose itself to the creation of a minor bubble.
This week, ShapeShift CEO Erik Voorhees and cryptocurrency investor Anthony Pompliano, better known as Pomp, echoed the sentiment of Hayes, stating that the bear market of Bitcoin is not over just yet.
Bitcoin in December
Some analysts see Bitcoin falling to $5,000, $4,000, and even $3,000 before recovering. But, most of the analysts share the sentiment that Bitcoin will rebound to major resistance levels in the $10,000 to $15,000 range by the end of December.
Predictions of most experts and analysts in the cryptocurrency space change on a regular basis, as it is difficult to speculate the exact region BTC will fall to and recover from. It is important for investors to look at the mid-term trend of Bitcoin, analyzing actual metrics like volume and market demand to foresee the future trend of Bitcoin.