Erling Løken Andersen | Unsplash
Bitcoin, which had managed to reach its new ATH, is surprising everyone with its high volatility and trading volume, which brings us closer to thinking about a higher price going forward. How high? Well, it is impossible to define it because no matter how much momentum the cryptocurrency is gaining, we do not know how the market could respond at these levels.
According to Arthur Azizov, who is the founder of B2 Ventures, he argues that there is no historical chart data to rely on to make certain interpretations, which translates to forecasts based on theoretical elements that could drift into pure uncertainty.
In addition, there is a factor that is based on current events and is reflected by various situations that we have experienced. The analyst mentions that while Bitcoin could reach $130,000 per BTC by the end of this year or early next year, there is also the possibility that a correction could bring the price down to the $60,000 to $50,000 range. This price drop is sure to be an opportunity for many and a substantial loss for others.
Today, with Bitcoin standing at virtually $109,600 at the time of writing, we can get an idea that it could continue to rise in price over the course of the next few months. The last ATH reached $111,970, according to data from CoinMarketCap. With estimates suggesting a price above $130,000, that could be reason enough to accumulate BTC, albeit gradually, but we're only basing this on sentiment and not rational.
Bitcoin (BTC) price | CoinMarketCap
You have probably heard a lot in the financial environment about the successful book “Rich Dad, Poor Dad”; written by Robert Kiyosaki. The author expresses through social networks his bewilderment by mentioning that it is incomprehensible to him that no one buys Bitcoin, since it is the most optimal way at this time to be rich. He argues that if we were to acquire even a small fraction, such as 0.01 BTC, it would be more than enough to become rich, since its price could be priceless in the future.
While it is true that there are several factors that could pull back the price of Bitcoin, especially those that are considered geopolitical, we can emphasize that they are also a series of opportunities that the experienced user could take advantage of. A clear example is Donald Trump's momentous decision regarding tariffs, since by removing one of the import taxes amounting to 50% on products from the European Union, the market accommodated positively, so it was reflected in a generalized price rise on cryptocurrencies, as well as the U.S. stock futures market.
Perhaps we are talking about the words of great referents of the crypto world as an attempt to direct the thinking of the masses. That is, it is not the final word, nor is it absolute certainty, but rather a way to encourage support for Bitcoin.
Although we should also talk about the monetary ability of these investors to reflect their support through consecutive purchases, and that these purchases will have an impact on the perception of Bitcoin at this very moment.
Just as Kiyosaki mentions Bitcoin as a vehicle of wealth extended into the long term, he also calls this opportunity “the easiest time in history to become rich and financially free”. We can also consider some advocates of such popularity as Raoul Paul, Michael Saylor and Anthony Pompiano, who agree that Bitcoin is the future of money.
So much so that Saylor's Strategy, formerly known as MicroStrategy, is the firm that has acquired the most Bitcoin over the last few years, and this will be no exception. It has transcended last week the purchase of Bitcoin for the sum of $764 million dollars. These BTC that are added to the holdings reach a total of 576 thousand coins, which at current values, impact in an approximate of $64,000 million dollars.
- Main image edited in Canva.
- Information consulted in decrypt.co.
- Translated to English with DeepL.
Posted Using INLEO
