Economist: Bitcoin’s 30,000,000% Surge Shows BTC Built to Rise Fast – BTC, ETH, XRP Price Analysis

Bitcoin economist and author of The Bitcoin Standard, Saifedean Ammous, says he believes the economy has never seen an asset rise as far and as fast as Bitcoin. In a new tweetstorm, Ammous compares Bitcoin to the rise of some of the world’s most famous companies, concluding BTC is a “completely new animal.”

Ammous pinpoints Bitcoin’s mining difficulty adjustment as the key feature that separates Bitcoin from other monetary assets. But despite his optimism, Ammous points out past performance is no guarantee of future results.

“This isn’t to say Bitcoin is guaranteed to rise. It can fail, or demand could disappear for many reasons. It could crash 90% from here and not recover in 20 years. Betting serious money on something so volatile is stupid and dangerous. If you do it, don’t blame me!”

Right now, the crypto market is mostly in the red. Bitcoin is down 0.89% at $3,939. Ethereum is down 1.47% at $133, and XRP is down 0.80% at $0.3027.

Source: Coin360

Overall, technical analysts say the bulls may struggle to hold the upper hand in the short term.

Bitcoin

  1. FXStreet – BTC tries to claw back ground above $3,900
  2. Blockonomi – Downtrend has likely started after corrective upswing ended
  3. FX Empire – Breakout unlikely as both bulls and bears lack trigger

Ethereum

  1. NewsBTC – Selling ETH close to $135 a good deal
  2. ETHNews – ETH/USD could accelerate losses if it breaks below the $135 support
  3. Cointelegraph20-day EMA and RSI point to a consolidation

XRP

  1. Blockonomi – XRP following a declining path, could extend losses
  2. FXStreet – XRP/USD stable for now; bleak days lie ahead
  3. NewsBTC – XRP bears target $0.2800 post downside break

The views and opinions expressed in this article Economist: Bitcoin’s 30,000,000% Surge Shows BTC Built to Rise Fast – BTC, ETH, XRP Price Analysis do not reflect that of 48coins, nor of its originally published source. Article does not constitute financial advice. Kindly proceed with caution and always do your own research. In rounding off this piece Economist: Bitcoin’s 30,000,000% Surge Shows BTC Built to Rise Fast – BTC, ETH, XRP Price Analysis, here’re the Top prominent words: 30,000,000% Surge Shows. 30,000,000% Surge Shows BTC. 30,000,000% Surge Shows BTC Built. Bitcoin’S 30,000,000% Surge. Bitcoin’S 30,000,000% Surge Shows. Bitcoin’S 30,000,000% Surge Shows BTC. BTC Built To Rise. BTC ETH XRP Price. BTC ETH XRP Price Analysis. Built To Rise Fast BTC. Economist Bitcoin’S 30,000,000%. Economist Bitcoin’S 30,000,000% Surge. Economist Bitcoin’S 30,000,000% Surge Shows. ETH XRP Price Analysis. Fast BTC ETH XRP. Fast BTC ETH XRP Price. Rise Fast BTC ETH. Rise Fast BTC ETH XRP. Shows BTC Built To Rise. Surge Shows BTC Built.

Aren’t You Curious How’s Your Favorite Cryptocurrency Performing Today on October 17, 2020?

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1$ 11,336.71
2$ 367.10
3$ 1.00
4$ 0.241732
5$ 247.29
6$ 30.38
7$ 10.57
8$ 3.94
9$ 0.106172
10$ 47.05

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