A former vice president of Goldman Sachs’ investment management division – Christopher Matta has been very bullish about Bitcoin (BTC) and he still holds his position regarding the potential of the digital currency to surge higher before this year runs out.
The former Goldman Sachs executive believes that the value of the digital currency could retest the $15k mark this year, and there is still enough time for the coin to achieve that.
Bitcoin (BTC) Price Today – BTC / USD
At the time of writing, Bitcoin (BTC) is trading at $6,280 after an increase of 1 percent over the past twenty-four hours. The current market cap of Bitcoin is $107.97 billion and its trading volume over the past twenty-four hours is $2.89 billion.
After his prediction, the value of the digital currency has reduced by seven percent, but he said he is still bullish about the digital currency and he urges people to stay calm, stating that it is more of a long-term investment.
He said that there are lots of short-term volatility, and he advises people to invest in the coin for two to five years. He said over the past six months, the bullish sentiment has not changed. So if you have long-term in mind, then $6k isn’t a bad entry point.
When asked if the volatility of Bitcoin is affected by the introduction of Bitcoin futures, he said that volatility has continued at a great height – saying that it’s not easy to figure out if the futures of Bitcoin have affected volatility.
What Does Bitcoin (BTC) Need to Surge Higher?
More developments, as well as investors, are required for the digital currency to surge to its predicted value, he said. He also said that products like ETFs will increase access to the digital currency as well as its adoption, and this will in return increase the value of the coin.