Bitcoin (BTC) Price Will Never Go Back To $69,000, According To This Forecast
✍️ 6 September, 2022 - 8:37 👤 Editor: Jakub Motyka
- Independent expert Kyle McDonald predicts that the price of Bitcoin (BTC) will never again recapture its all-time high of $69,000.
- He assures that The Merge of Ethereum (ETH) is not going to do Bitcoin any good.
- The latest news about cryptos, in our Telegram channel.
Kyle McDonald, an independent expert recently interviewed by the CoinMarketCap podcast, is clear: the price of Bitcoin will never recover 69 thousand dollars, according to his forecast. McDonald assures that the new Ethereum Merge update will harm Bitcoin, given that this cryptocurrency will not be able to reach a consensus to go to the PoS system (Proof of Stake).
Kyle McDonald has caused a stir on social networks by stating that, in his opinion, investors and regulators will soon realize that that the Proof of Work system on which Bitcoin (BTC) is based was never necessary.
"Sell All Your Bitcoin Now", Says The Expert Who Predicts That The Price Of BTC Will Never Return To 69,000$
According to McDonald, Bitcoin (BTC) will never recover the price of $69,000 in the future. Not only that, but it could also end up becoming a regulated cryptocurrency, which serves as the basis for his argument that he recommends investors to sell Bitcoin as soon as possible.
With the arrival of The Merge update to Ethereum, he assures, there will be a great change in the crypto world that will make many people realize that the PoW (Proof of Work) system may never have been necessary. "Going from a system running on 10 million graphics processing units, to one running on a few thousand low-power computers, is going to make a big difference," says McDonald about Ethereum upgrade.
According to McDonald, the lack of coordination of the Bitcoin community will make its users stay in the system for life PoW (Proof of Work), the traditional mining of cryptocurrencies that today is not viewed favorably by the authorities.
Price Of Bitcoin (BTC) Struggles Not To Lose $19,000
In the last few hours, the price of Bitcoin (BTC) has been trying to stay closer to $20,000 than $19,000 >, a support that, if lost, would start a new bearish stage that would not do the world's largest cryptocurrency by market capitalization any good.
Right now Bitcoin (BTC) is trading at $19,799.51, with a rise of 0.21% in the last 24 hours. Do not forget that September is the worst month of the year for Bitcoin.
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