Experts expect a rapid jump in bitcoin price

Many analysts and commentators have made positive predictions about the future of the Bitcoin price, despite the struggle of the Bitcoin bulls and bears for around $ 50,000 and the cryptocurrency losing 5 percent in the past 24 hours.

Bloomberg Intelligence Senior Commodity Strategist Mike McGlone said on March 4 that Bitcoin is heading towards $ 100,000, citing historical data as evidence.

McGlone’s prediction is based on the discount of Grayscale Bitcoin Trust stocks to coincide with the Black Thursday crash of last year. Discount refers to the purchase and sale of the shares in question for less than Bitcoin’s value.

Twitter user “Lee Hendricks” is the pressure from the Grayscale discount to be launched soon by exchange-traded funds and other crypto funds. claimed to have a consequence (This may also indicate an uptrend).

Influencer and YouTuber Lark Davis, as well as Bloomberg strategist, stated on March 4, “We just passed the first big price wave”. He claimed we would see two, much bigger price waves.

Kaleo Technical Analyst, With the graphic he shared on March 2 He said that BTC will see $ 100k by April

The analyst predicted in an analysis two years ago that BTC would reach $ 200,000 by mid-2021. Kaleo, in a new post He said he still had faith in making this happen:

“This is the most accurate long-term forecast ever made for Bitcoin. BTC will see $ 200,000 in this cycle. “

Another analyst MasterChangzHe suggested that Bitcoin will reach $ 200,000 even before mid-2021, possibly early April. The analyst is targeting $ 77,000 in the next two weeks.

Despite all these positive comments, March may be bloody for the cryptocurrency market. Bitcoin fell an average of 5.8 percent in March for six of the past nine years. Crypto money crashed more than 50 percent in March last year.

Check Also

Microsoft Bets on ‘Metaverse’ With $69B Acquisition of Activision Blizzard

Microsoft today announced it is acquiring game publisher Activision Blizzard in a nearly $69 billion …

Leave a Reply

Your email address will not be published. Required fields are marked *