The crypto market seems to be shaping up to something good this month, but a lot of the big shots seem to have their eyes particularly on Bitcoin. Various influential crypto investors like researchers like Fundstrat’s Tom Lee seem to be going all bullish on Bitcoin.
BTC Has Found Its Floor
For one, the recent bear market has revealed just how resilient Bitcoin can be in the face of a bear assault. Although the crypto is still way down as compared to its ATH of December 2017, the bear market has shown that Bitcoin can withstand a hit just down to around $3,500 and $4,000.
As such, the top coin seems to have established its bottom value, meaning that if the current upward trend continues, things could get very interesting in terms of its price.
Now Could Be A Good Time To Step In
The begging of the week saw Bitcoin jump by 20% and now it’s trading at around $5,000. If someone bought Bitcoin in the beginning of April, they would already be 20% richer by now. That begs the question of whether this could really be the best time to start accumulating.
Average Investors Might Have A Hard Time In The Future
Going by the reports coming from respected entities like Fundstrat and popular crypto investors like Mike Novogratz, it could be argued that Bitcoin might be heading for a major bull run.
As such, average investors might soon find it hard to accumulate the cryptocurrency at its high price – say $15,000 or more per coin.
As a matter of fact, there have been speculations that Bitcoin’s price could soon reach $250k or even $1 million. At such prices, affording a full Bitcoin would be a hard bargain for the average investor.
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.