Clem Chambers, CEO of ADVFN (investment site) and author of many books on finance, gives us his expertise on the state of Bitcoin today. According to him Bitcoin may fall to $10,000 if it reaches a critical threshold.
Fall below $10,000 for Bitcoin?
We have seen in the last few days that most cryptocurrencies had a small jump after the disastrous month of August. Bitcoin broke the €20,000 mark again to reach €21,263.99 today (+8.89% in the last 5 days).
The expert Clem Chambers he presents us with his vision of two likely scenarios for the future of Bitcoin. In an interview with the American publishing company Stansberry Research, he said: “Bitcoin price could go down to $10,000 if it crosses the $17,000 threshold. If it reverses to $18,000-17,000, the next pullback will be around $10,000. (…) If it starts to rise sharply from there, making it a ‘W’, it will probably go all the way up to $40,000 easily.“
The expert in a promising place on the a downward trend, ie the one where Bitcoin falls to $10,000. However, looking at the current dynamics of the flagship cryptocurrency, one may think that Clem Chambers is wrong and therefore consider the second case.
Regarding Ethereum and specifically regarding The Merge, the author announced that he “extremely difficult situation“. In fact, its unprecedented nature in the world of crypto makes it a very complex event to analyze even for financial experts. For him, investing in Ethereum would be “fifty fifty” right now with no guarantees.
In 2021, when Bitcoin was at the threshold of 38,000 dollars, the expert told us that the crypto completed its 4-year cycle. He then announced that Bitcoin would reach a critical threshold at 10,000 dollars and then rebound to a new ATH (All Time High) at 120,000 dollars.
However, the CEO of ADVFN was right in predicting that the sudden stop in the strengthening of the dollar was no accident. “The Fed and these guys have decided that the dollar is strong enough, and they don’t want it to get stronger.”
According to him, this is good news for cryptocurrencies in general since:
“The strength of this dollar has overshadowed everything else. (…) Now this process was suddenly stopped, because the dollar was becoming too expensive. (…) The other assets now have a chance to appreciate.”
Chambers was also thewas one of the first to warn of a possible “Crypto Winter”.ie a big crisis to come for the world of cryptocurrencies. The expert was right since the unprecedented fall of cryptocurrencies.
For him, the crisis in which cryptocurrencies will find themselves will only end in 1 year because there are many factors to take into account. He added that cryptos are constantly changing and sometimes difficult to predict.
It remains to be seen whether the author’s new prediction will be relevant.
For more information you can watch the full interview on the Stransberry Research Youtube channel.
More reliable alternatives to Bitcoin?
Bitcoin’s return on investment potential is good, but new cryptos are emerging with even greater potential. Like Tamadoge, who has reached his eighth rank pre-sale by raising $15 million in record time.
The all-new meme coin is enjoying great media hype in the cryptocurrency world. Several indicators suggest that the launch of the Tamadoge will be an event to watch in the coming weeks.
Some experts believe that the rise of Bitcoin is always good news for other cryptocurrencies. So, if the latter continues to rise, it could be very beneficial for the launch of Tamadoge.
Transak also confirmed that it is working closely with the Tamadoge project. Thanks to this collaboration, investors can buy Tamadoge in more than 125 countries in Ethereum and in fiat currency.
Also, pinstead of focusing only on launch and media, Tamadoge offers its investors an innovative product P2E (Play 2 Earn) game system.
For those who hesitate to enter the world of meme coins without much risk, Tamadoge could be a great choice. Given the opportunity to generate value along with a strong marketing campaign, Tamadoge is likely to continue to scale well and endure over time even in uncertain times.