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Shark Tank host Robert Herjavec is certain that BTC is a good buy at the current Bitcoin price.
The Canadian businessman who’s known as the host of the hit TV show ‘Shark Tank,’ is a ‘big believer’ in Bitcoin (BTC) and electronic payments in the future, unlike his fellow host Mark Cuban.
When asked about analysts who say that the BTC price could reach $100,000 or even $1 million during his recent Kitco interview, Herjavec said that it didn’t sound crazy to him on a long-term basis.
Herjavec says that one of the main challenges for Bitcoin is the existence of multiple forks.
“There is no one Bitcoin. There are different types of Bitcoin, and I think it’s a bit of a fragmented industry.”
There are currently three different versions of Bitcoin in the top 10, which signifies how divided the community is.
However, the original Bitcoin still blows out of the water its forked versions given that it is responsible for almost 64 percent of the total market cap.
Bitcoin Tumbles, Altcoins in Deep Red – Here’s Where BTC, ETH and XRP Will Land, According to Top Crypto Analysts
As Bitcoin continues to slide toward $9,000, crypto analysts are trying to gauge when the bleeding will stop.
Now that BTC has firmly slipped below $9,300, analyst Josh Rager says he thinks the leading cryptocurrency will continue to head south to support at around $8,600.
Meanwhile, Scott Melker of Texas West Capital says Bitcoin bulls need to protect the $9,090 level to avoid a larger move to the downside.
“The next support for me is still THE LINE at $9,090. For now, price bounced there to the dollar. Now let’s see if it holds.”
Fellow analyst Filbfilb tells his followers on Telegram that he believes BTC will likely hit a bottom at around $8,800, which is the current 200-day moving average on TradingView.
“Downside targets the 200-day moving average, 20-week moving average, and 50-week moving average seem good for a bounce, but the 200-day moving average is never really lost in a bull run, so losing that could be more of a significant issue. Nevertheless, I’m looking for longs down there.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.