Bitcoin made another retracement back to $7,200 price level some hours ago. Despite the speculations that BTC has already bottomed for fresh upside trend, it seems the digital token is not done with its accustomed price retraction.
However, a popular economist and trader identified as The Crypto Dog on Twitter has recently reiterated his believe of Bitcoin attaining $100,000, but in a couple of years. He as well added that BTC has likely bottomed at $6,500.
The Crypto Dog Says Bitcoin Has Likely Bottomed at $6,500
There are predictions of Bitcoin going to $100,000 and beyond. Although, BTC is not really showing any sign of retesting its price all-time of 2018 anytime soon.
Notwithstanding, this is not dissuading some crypto traders and analysts to share the faith they have in the future of the king of coins, Bitcoin.
The Crypto Dog, a famous crypto trader on Twitter shared his opinion regarding the possibility of BTC attaining the coveted price of $100,000. He said this is possible in a couple of years’ time.
He also added that Bitcoin might have already bottomed at $6,500, pointing that any price below $6,000 should be seized by crypto investors and traders to accumulate.
He said, “BTC 100k in a couple years. Anywhere under $6k should always be a buy $6500 might have been the bottom. These statements are unsubstantiated.”
Bitcoin price has been seemingly stagnant for the past few months. Within these few months, BTC has experienced more price retrogression than progression, and the majority of the crypto experts are still resolute of subsequent parabolic uptrend.
The hope of many Bitcoin enthusiasts still lean on the upcoming halving, while others believe that Bitcoin halving has already priced in. In this regard, Anthony Pompliano, the co-founder at Morgan Creek Digital and stern Bitcoin maximalist has recently reaffirmed its stance regarding the possibility of BTC attaining $100,000 by 2021
His assurance relies on the history of Bitcoin halving. The last two halving was greatly beneficial to the price uptrend of BTC, which aided the price of the digital currency to the level it maintains today.
Bitcoin Price in the Market
Bitcoin price has lost $7500 support level. The digital token is now priced around $7,200 level. There is a possibility of losing the support once again to $6,000 price region if the retracement persists.
At the time of filing this report, BTC is trading at $7,286.26, with 0.83% price decrease in the last 24 hours. Other top cryptocurrencies are also at loss in the market presently.