You’ll recall that many experts started predicting the Bitcoin bull run even before the flagship cryptocurrency started recovering against the USD. The Tom Lee Bitcoin price prediction and Tim Draper Bitcoin price prediction both seemed outrageous. However, following Bitcoin’s latest comeback, there are now believable. The last Bitcoin price prediction is from Naeem Aslam, the chief market strategist at ThinkMarkets. Aslam said that Bitcoin is going to hit $100,000 soon.
Bitcoin News Today: Bitcoin Primed To Hit $100,000 According To Expert
This Bitcoin price forecast just like others in the past may be difficult to believe. However, keep in mind that Aslam hit the headlines a while ago when he said that the price of Bitcoin would hit $400,000 one day. So, saying that Bitcoin would hit $100,000 should not be considered as unusual. Posted on Forbes, the expert said that whales have been investing in the cryptocurrency space quitely for a while now. He also said that many of the retail investors who ran away during the cryptocurrency winter will come back soon. In his words;
Bitcoin (BTC) Price Today – BTC / USD
“In summary, the move which we have seen today is mainly due to the strong momentum which has been building up for some. As I explained in my last article, the smart money is mostly interested to get involved in a bear market because the risk to reward ratio is at its peak. Bitcoin has the potential to topple the $100,000 mark and it is only a matter of time when this becomes a reality. I am not saying that fiat money is going to vanish, but the way the central banks are managing the monetary policy, alongside the high levels of government debts, are going to bring the shine in the Bitcoin price again.”
He isn’t the only expert who has spoken up since the recent Bitcoin bull rally. DataDash, the famous YouTube cryptocurrency analyst said that Bitcoin will reach the $6000 short-term but it will not break this level. He said that there would have to be some fundamental improvements in the months to come to ensure that it breaks the $6000 level. In his words;
“Unless we have some fundamental developments over the next month or two, I don’t think there’s enough substantial news to carry it past $6,000. And with [$6,000] being such a key level of support beforehand, this is going to weigh down as heavy resistance.”
According to him, Bitcoin will only be able to break this resistance by the end of the year when things like institutional investments, regulatory clarity and massive adoption are put in place.
Short-term Bitcoin Price Prediction 2019 – Bitcoin Price Today
At the time of writing, Bitcoin (BTC) was trading at $5,004.88. This means that it is up by 0.26% against the USD. The trading volume over a 24 hour period is $21,667,567,468 and the market capitalization is $88,221,213,284. Whether or not Bitcoin will break above the $6,000 anytime soon is unclear. However, it will definitely reach that mark soon as long as the bullish pressure in the market continues.
What do you think about the Bitcoin news today? Will Bitcoin Recover to $100,000 at one point? If it gets to $6000, will it break this level and move higher against the USD? Share your thoughts in the comment section.