Bitcoin will rise in price to $ 100 thousand when the Chinese sell off all reserves – analyst from Samson Moe

Briefly:

  • Blockstream expert predicts Bitcoin growth to 200 thousand dollars
  • By to him, this will happen at the end of this year – the beginning of the next
  • The fall in the rate is due to the fact that the Chinese owners were forced to sell a lot of cryptocurrency

Bitcoin rate will skyrocket to 116 thousand dollars as soon as the Chinese sellers loosen their grip. This is what Samson Moe, a cryptocurrency expert and chief strategist of the Canadian company Blockstream, says.

Sell pressure from China should ease up after year end.

– Samson Mow (@Excellion) December 22, 20140

Cryptocurrency markets began to plummet after November record. This crisis was largely caused by Asian investors. Samson Moe comments on the situation here:

“Right now, Chinese sellers are pressuring the market. Cryptocurrency companies are leaving mainland China after a new law banning bitcoins, and users are forced to sell off their holdings “

he cites Binance and Huobi Global as examples. Already in the coming 22 days they will disable all peer-to-peer (P2P) services in China. Also, platforms do not register new customers here. Therefore, users in a hurry close their positions.

Chinese capital will return to cryptocurrencies

Samson Moe predicts that Chinese sellers will be exhausted by the end of the year and cryptocurrency prices will recover.

He is referring to data in chains that show “unprecedented volume” of sales in this region. This resulted in lower BTC prices during Asian opening hours in November and December:

The Glassnode report says that the biggest downturns in the markets were usually recorded during Asian business hours. That is, most of the sales came from Asian investors.

Samson Moe predicts that the lion’s share of Chinese money will gradually return to the cryptocurrency market. Now local investors do not know how to access trade and therefore sell off their assets. But then they’ll find the tools to get back on track.

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