- Charles Hoskinson remains ultra bullish on bitcoin.
- FUD takes over the cryptocurrency markets.
- Now might be a good time for long term BTC acquirers.
Despite a recent bout of fear, uncertainty, and doubt within the cryptocurrency community, Charles Hoskinson – the creator of Cardano – has set a bullish $100,000 price target for BTC.
Bitcoin is dying, or so it would appear if you lurk around any corner of Crypto Twitter. This dour sentiment is somewhat understandable given the current price performance of BTC.
In the space of a month, bitcoin has been on a sad slope down to $7,000, where it currently resides.
Some hope was regained at the end of October when the flagship crypto broke free of the bears. Following China’s widespread adoption of blockchain, BTC attempted to surmount the $10,000 mark. But, this wasn’t to be, and bitcoin has continued to sour ever since.
BTC/USD. | Source: Tradingview
Nevertheless, looking to mainline the flagging crypto community with a healthy dose of hopium is Hoskinson. Amid the plethora of bearish opinion, the Cardano creator came out bullish as ever, highlighting bitcoin’s future prospects. He alluded that while short term losses are inevitably crippling, long term fundamentals still exist. To this end, he placed a $10,000 price mark for BTC, before hinting at the eventuality of $100,000.
Charles Hoskinson’s bitcoin price prediction. | Source: Twitter
Hoskinson attributed much of bitcoin’s recent losses to FUD, news trading, and manipulation. One thing is for sure; there hasn’t been a lack of any of those.
The Binance “Raid” and China’s Crypto Shutdown
One of the biggest and frankly most FUD-driven stories of this week came in the form of the so-called Binance “raid.” According to a report from The Block,