The cryptocurrency market entered a definitive uptrend since the beginning of 2019 and, naturally, Bitcoin has become a hot topic again. Mainstream media outlets like CNBC, Reuters, and Forbes have been covering the topic extensively.
However, their statements are oftentimes questionable and could potentially lead traders, especially inexperienced ones, to make bad calls.
‘Bitcoin Will Never Go Below $5,000 Again’
Two days ago, CNBC Africa’s Crypto Trader host Ran Neuner tweeted that Bitcoin will never hit $5,000 again, asking the question that how much BTC will people buy after the coin hits $8,000.
It’s safe to say that Nauner could have been a little bit more subtle with how definitive his prognosis is. Stating that Bitcoin isn’t going to go below a certain level could be a bit too much, given the historic hyper volatility of Bitcoin. When BTC reached its all-time high in December 2017 at nearly $20,000, not many had thought that the coin’s price would crash soon with cryptos entering a bear market that lasted over a year.