Chris Vermeulen, founder and CEO of Technical Traders LTD, stated that bitcoin’s USD price would rise to $90,000. In just one year. However, bitcoin’s price could plummet to $16,000 as it aims to surpass the previous record.
What does the Road to The Top Look like?
Chris Vermeulen, a Kitco interviewer, spoke recently about bitcoin’s future price. Based on his analysis and the charts, it appears that the USD value for the primary cryptocurrency will experience major setbacks. It will also remain volatile over the next few months.
The top executive for bitcoin predicted that it would plummet to $21,000 or even $16,000. He advised investors to avoid bitcoin for now, as the downtrend could last for one year but it could also last up to eight years.
He noted that many people are interested in cryptocurrencies. As with precious metals they shouldn’t “hold them when they aren’t favorable” simply because they “love” them.
Although bitcoin’s future price is difficult to predict, Vermeulen pointed out that the recent pullback was one of the most “small” in comparison to other pullbacks over the years. He believes that bitcoin’s price will rise to $90,000. By mid-2022.
“We are targeting $89,000 to $90,000. But that may not be possible until next year. That’s my game plan.”
Is Bitcoin Still on its Way to Hit $100K
Vermeulen sees a sharp price ahead of a surge in BTC’s value, but others believe the asset will only head north, especially towards the end of the year.
Florian Grummes agrees. The financial analyst said last month that BTC could make a retrace to $35,000 before skyrocketing again. He stated that $100K would be attained in the first quarter 2022.
“Bitcoin rises to $35,000, and then goes back up to $60,000, and the bull market continues. In the next six months, I believe $100,000 will be possible.
Adam Back, a British cryptographer, shared a more optimistic prediction: He sees the top digital asset trading at $100K by 2021. He stated that bitcoin’s acceptance and use had reached an adequate level. He concluded that bitcoin is a better financial tool than gold.
“The comparison that I liked was the one to physical gold because in many ways, Bitcoin is better than physical gold.”
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