The price of the leading cryptocurrency Bitcoin [BTC] is expected to hit as high as $20,000 USD within the upcoming next 2 weeks – and might even hit $50,000 USD or $100,000 USD by end of this year.
In line with eToro analyst named ‘Simon Peters’, the price of the leading cryptocurrency Bitcoin [BTC] is expected to hit as high as $20,000 USD within the upcoming next 2 weeks – and might even hit $50,000 USD or $100,000 USD by end of this year.
As pert Peters, it just took 4 to 14 days for BTC to touch the record figure of $20,000 USD once it was last at $11,800 USD.
He cautioned that his short-run prediction relies on the idea that bitcoin maintains its present ongoing bull-run.
Peters believes this rally is totally different from past surges as it hasn’t been accompanied by a spike in Google searches for ‘purchasing bitcoin’ – indicating that the capital coming into the market is actually coming from the institutional and investors who had antecedently invested their funds within ‘stablecoins‘.
On whether or not the surge is sustainable, Peters added:
“With the amount of sell positions building within the market it’s though possible we might see a correction pretty soon. Even if that was the case though, bitcoin continues to stay on track to close out the primary half the year on a extremely positive note. We might see bitcoin reaching $50,000 USD or maybe as high as $100,000 USD by this year end.”
The analyst went on to outlined that BTC’s gains are at the expense of ‘altcoins‘, some of which are being “pummeled” as they languish at vital lows.
Bitcoin’s parabolic advance ‘continued‘ past $12,500 USD earlier today on 26th June – the very 1st time the cryptocurrency has hit this figure within this year.