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BTC, optimistic predictions towards $160,000

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BTC, optimistic predictions towards $160,000

BTC’s price is hovering above and below $40,000 and as we wait for it to go one way or the other, analysts and experts’ predictions are multiplying.

For example, according to Jurrien Timmer, Director of Global Macro at Fidelity, BTC hit its lowest point on 14 June, when it again approached $34,000. From that point, it should trigger a rise again.

The CEO of Celsius, Alex Mashinsky, is optimistic that El Salvador’s decision to make BTC legal tender will give the price and adoption of BTC a boost. This is because if other more populous countries, such as Brazil and Nigeria, also adopt it, this would drive the price of BTC to new records.

A boost that would take it up to $160,000 as early as 2021.

He told Kitco NEWS:

“So if we can get a Brazil, if we can get a Nigeria, if we can get countries with large populations to accept this as legal tender – you’re going to see a huge explosion in the price because just the adoption of all those users is going to create tremendous new demand. We may reach all the way to $160,000 this year. I’m sticking to that prediction”.

BTC, technical predictions

These predictions are complemented by PlanB‘s technical analysis. 

The analyst known for his Stock to Flow model seems to suggest that a bull run is just around the corner.

BTC has been hovering in a range between $30 and $40,000 for weeks now. Experts and analysts expect that this sideways channel could soon be broken to the upside or downside. 

Another bull run should lead BTC to break the previous all-time high of $65,000. Conversely, a slide below $30,000 would risk revisiting another long-abandoned psychological level, that of $25,000. All that remains is to wait and see how the market develops.

The post BTC, optimistic predictions towards $160,000 appeared first on The Cryptonomist.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
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