- The price action of the leading cryptocurrency has been extremely volatile over the past few weeks.
- Last week in particular, BTC surpassed the $10,000 mark only to quickly sink into $9000 territory not long after.
The price action of the leading cryptocurrency has been extremely volatile over the past few weeks. Last week in particular, BTC surpassed the $10,000 mark only to quickly sink into $9000 territory not long after.
Despite this volatile price action however, many people predict that a run of bullish activity is just around the corner. One venture capitalist believes that a round of bullish action could see bitcoin reach $150,000 despite only being priced at $9700 at the time of writing.
Simon Dedic of Blockfyre said on the 4th of June this year to forecast the price of some of the top cryptocurrencies in the space. The co-founder of the blockchain initiative believes that a huge bull market is just around the corner with bitcoin awaiting the $150,000 price target.
Simon believes that a market similar to that of 2017 is well on its way in 2020 but he doesn’t believe that it will be the same as back then. Along with bitcoin rising massively, he believes that many alternative currencies such as ETH Will rise to such heights of $9000. This would be massive for the second biggest crypto coin in the space.
He highlights that only a few solid alternative currencies in the crypto industry will rise though with some of them potentially outshining bitcoin in the long run.
In 2017, you could have bought literally any alt and it was a good investment.
— Simon Dedic (@scoinaldo) June 4, 2020
Imo this won’t happen again.
However, I still believe that the bull run will return, pumping the few solid alts out there.
Predictions:$BTC $150k$ETH $9k$LINK $200$BNB $500$VET $1$XTZ $200
It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!
