Bitcoin is firing on all cylinders at present in the crypto market. It has successfully made a very big recovery from its last set back. Hope of price uptrend consolidation for BTC is now very high, with indications of beating more challenging huddles on its course.
In the middle of the present parabolic movement comes a new bullish prediction from Mark Yusko, the Founder & Chief Investment Officer of Morgan Creek Capital Management.
Bitcoin (BTC) is the major asset to watch globally in terms performance and returns this year. It keeps defiling the thoughts of the pessimists and giving optimists reasons to remain positive.
Many prophets of hope in the cryptocurrency space have continuously reiterated their stances about the promising future of Bitcoin. John McAfee, a prominent figure among many forecasters, also made distinct BTC price prediction.
Bitcoin has also been reacting bullish to the predicted surging trend lately. Its price growth momentum has constantly welcomed periodic corrections, which some crypto experts confirmed to be good for the health of the digital currency in maintaining its stability when it eventually attains higher price marks.
During the last parabolic movement of Bitcoin, Tom Lee, Co-founder at Fundstrat Global posited that the cryptocurrency will soon surpass its last recorded price hallmark of relatively $20,000. Actually, the best wish of average BTC enthusiasts is the steady growth of the digital currency.
If Bitcoin could continue to prove itself as a reliable store of value with its price growth continuity, it would continue to enlarge in terms of global popularity and chances for mainstream adoption.
Another notable prediction came from Anthony Pompliano, the Co-founder at Morgan Creek Digital. A couple of days ago, he specifically stated that Bitcoin would hit $100,000 by the end of 2021, with 70 – 75% confidence level. He detailed the unavoidable scenario that would play-out by 2020, which would serve as architect in hitting such price height.
A couple of hours ago, BTC retested $12,700 resistance level before it made a very quick and sharp correction to below $12,500.
This is the trend it has been following for a couple weeks, and it has persistently maintained this course to the top. At the time of writing, $12,325.87, with 4% price upsurge in the last 24 hours.
Mark Yusko Says Bitcoin Would Hit $30,000 before a Major Correction
Mark Yusko, Founder & Chief Investment Officer of Morgan Creek, shared a notable Bitcoin price prediction during an interview with CNBC’s Fast Money.
In the interview, Yusko assured that Bitcoin will definitely attain its All Time High, taking $30,000 as its next target before a major price pullback. In corroboration with Pompliano’s prediction, he posited that Bitcoin to $100,000 is possible by 2021.
— CNBC's Fast Money (@CNBCFastMoney) July 8, 2019
Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.