Crypto Analyst Calls to Honor Bet as 2019 Bitcoin [BTC] Price Closes @ $7165

Bitcoin [BTC] Price closed at $7165 on Coinbase on 31st December 2019. This is the time of the year when analysts and financial gurus face the truth of their predictions.
The wager by John McAfee for 2020 end stands as the most infamous bet in the crypto space. Nevertheless, the bet between Vinny Lingham and Ronnie Moas has a lot more substance to it.
After a quick exchange of snide comments, the analysts finally took out their swords and bet $20,000 on their respective views. Ronnie Moas later tweeted after the show in late 2018,

My view has not changed … if $BTC does not hit $28,000 by the end of next year … I am happy to donate $20,000 to @Free_Ross … if it does hit $28,000 and I win the bet … I am sure I will send them something as well. I hope Vinny will do the same

Free Ross is a social campaign Ross Ulbricht who is imprisoned for life for developing a website for selling drugs
As the two leading analysts bet, Vinny Lingham who has clearly won it noted that, “It doesn,’t work like that.” Looks like he was absolutely right. The basis of Ronnie Moas’s predictions was,

I think it is going to be watershed moment, right now we have 1% penetration in the world. I think right now we’re at the same watershed moment the internet was 20 years ago. I could be wrong… but this a shot worth taking.

How Vinny’s Prediction Played out?

“This is year we haven’t even hit winter yet.”

Vinny Lingham noted as he began to explain the bearish basis against Moas’ assertation. He argured that while the growth is surely there there are about 50-100 thousand people working in the industry. These companies and miners needs funds to operate and survive in the industry. These funds would come from selling crypto.
Rightly so, the downfall in altcoin and miner capitulation are evident results of it. The penetration and adoption would require both time and investment.
Moreover, the year started on a highly bearish note with $1k possible targets. Apart from the free market, the scams also played a huge role in the price action as it broke in a parabola up to $14,000. Even in a strong bullish momentum $28,000 was way further; it did not even break ATH at $20,000.

Bitcoin did not hit the $28,000 as predicted by @RonnieMoas when we made the bet in Vegas in 2018. Ronnie – please post proof of payment of the donation and thanks for being a good sport! Happy New Year! Cc:@WorldCryptoCon @joelcomm https://t.co/J0AWRHUN1F

— Vinny Lingham (@VinnyLingham) January 1, 2020

Do you think that the long winter Vinny predicted for 2019 is over? Please share your views with us. 
The post Crypto Analyst Calls to Honor Bet as 2019 Bitcoin [BTC] Price Closes @ $7165 appeared first on Coingape.


from Coingape https://coingape.com/bitcoin-crypto-year-end-close/