Chinese cryptocurrency Billionaire and stakeholder at Bitfinex, Zhao Dong has said the Bitcoin price bubble is not over yet.
The cryptocurrency expert, who affirms that $4,000 level will be the present bottom for Bitcoin, however, said the price will touch $6,000 mark again and then make another move to test the solid $4,000 level.
Bitcoin Price To Skyrocket After 2020 Halving
The founder of DGroup while revealing Bitcoin’s possible price movement before bull run on the popular social media platform WeChat, said in October Bitcoin price will find another bottom at $5,000 before moving straight on a growth uptrend to around $10,000 in the period preceding the much awaited Bitcoin halving of 2020.
According to Zhao, the moment the halving is done, Bitcoin price will skyrocket to $6,000 or $7,000.
Post Bitcoin (BTC) Halving: Price To Hit $50,000 to $100,000
After halving, Zhao said BTC price has the potential to go between $50,000 and $50,000, and if things go fine, the price can go higher than expected.
“And then the bull run begins. Till 2021, BTC will hit $50,000 to $100,000, or even higher,” Zhao prophesied.
Conclusively, Zhao opined it is possible that this present condition last for 6 months.
Fortune 200 Tech Giant With Over 2million Customers Accept Bitcoin As Payment Option
Bitcoin is getting more popularity far and wide and its wave is being felt in the nooks and cranny of the world. More and more companies are announcing the adoption of the cryptocurreny.
Recently, a colossal tech company that featured in Fortune 200, Avnet, in partnership with Bitpay, announced the adoption of Bitcoin as payment option.
Avnet is one of the world’s largest distributors of electronic components and embedded solutions, and it has over 2 million customers across the globe. BitPay is also the largest global blockchain payment provider.
The fact that it was reckoned that at least 250,000 on-ledger bitcoin transactions took place per day in 2019 is an attestation that the asset has seen wide adoption.
Bitcoin (BTC) Set For New Flight
Bitcoin has taken it bottom. This is the rampant assertion in the crypto space, as the crypto dad took off on the upside trend at the Asian trading session on April 1st for a major price correction.
While Bitcoin continues to trend on the rising wedge with the green flag that signals value addition, some analysts as well as market experts have opined that although Bitcoin is still yet to break even above the resistance point, the bull is very near and this time, the cryptocurreny will attain a new high value.
However, analysts have argued that while the cryptocurrency is still at its foot, it is best to Hodl it before the full moon comes around.