In line with a recent interview with ‘Fox Business’, Naeem Aslam – Chief market analyst at ‘ThinkMarkets’ has predicted the price of Bitcoin [BTC] to hit somewhere in-between $60,000 USD and $100,000 USD within its next bull run.
Earlier this month also, Aslam had ‘predicted‘ that Bitcoin would hit $10,000 USD within “a few upcoming weeks,” citing institutional involvement as a serious driver. Bitcoin successfully ‘reached‘ its 5 figure price benchmark earlier on 22nd June, marking a record high that has not been seen since over a year.
As per Aslam, the leading price points to look out, as for now are $20,000 USD and $50,000 USD. He added that by striking $20,000 USD, discussion’s will move from conservative estimates exceeding the leading ‘cryptocurrency’s‘ incomparable new all-time high to forecasts of $50,000 USD; from there, breaking the $50,000 USD price mark can mover the price even further to the target of $100,000 USD.
Aslam conjointly stated the employment of BTC as a means to avoid risk, comparing Bitcoin, which is also formally called as “digital gold,” with gold. He remarks that within the last 2 months, there’s a large spike within the price for these two assets, which he attributes to a lack of confidence in the stock market exchanges along with the ongoing U.S.- China trade war,
Aslam conjointly points to unrest and even a possible war within the Middle-East as the major drivers of recent growth in these diversifying assets. He additionally remarks that Bitcoin now encompasses a name as a secure haven for storing wealth, stating that there’s proof of investors “parking” their capital in the leading crypto asset.
As ‘reported’ earlier, Bitcoin podcast host ‘Trace Mayer’ aforesaid that the the price of Bitcoin in 2019 can seemingly touch $21,000 USD price mark, in line with the trajectory posited by his ‘Mayer Multiple’ price indicator. The Mayer Multiple reportedly is an equation that involves dividing the present price of Bitcoin by its 200-day moving average.