Investors, as well as gurus in the crypto space, have continued to express excitement as the Bitcoin (BTC) price hovers between $18,000 and $19,000. In recent times, the leading cryptocurrency recorded a new all-time high. So far, it has been unable to maintain that level for more than a few minutes. That said, the community remains very excited about what may happen in the future.
A Strong Positive Trend
In the past five months, BTC has been extremely bullish. Its price has risen from less than $4,000 in March to a new all-time high. That said, there has been plenty of resistance at several key levels. Before it moved above $10,000, there was steep resistance that had to be overcome. Ever since, the uptrend has continued without skipping a beat.
As is to be expected, Bitcoin faces similar resistance as it sets to hit the $20,000 level. That said, various crypto Twitter community members and Bitcoiners continue to express their excitement. Most of them expect a much higher value to materialize in the future.
Casa CTO and Bitcoin engineer Jameson Lopp congratulated crypto investors. Recall that Lopp once raised a false alarm leading to SWAT officers raiding his house. He also went AWOL after an unsuccessful Bitcoin extortion attempt related to his family. The crypto engineer has always been an advocate of privacy, which explains his love for crypto. While reacting to the price surge, he congratulated crypto investors on their resilience.
Congrats to those who have survived a full market cycle. Better buckle up! pic.twitter.com/GqKXM3mqU5
— Jameson Lopp (@lopp) November 30, 2020
Buoyed by Bitcoin’s recovery from last week’s decline, Pierre Rochard, Bitcoin encouraged investors to keep buying more. He predicted that claims BTC peaking at $100,000 were underestimating its true potential. Rochard predicts that Bitcoin will hit $400,000 or $600,000, and keep going up afterward. Expressing excitement, he “advises” investors to sell other assets for Bitcoin.
Sell your stock and bond portfolio, buy #bitcoin.
— PierreRochard.com (@pierre_rochard) November 30, 2020
Michael Saylor, CEO of MicroStrategy made a reference to Bitcoin’s functionality right before BTC hit the recent all-time high. As a relatively new crypto convert, Saylor has been bullish about Bitcoin recently. His firm, MicroStrategy, gained a significant profit following Bitcoin’s recent rise. Reportedly, they gained slightly over $72 million ten weeks after making a massive Bitcoin investment.
Over the Thanksgiving holiday weekend, #Bitcoin operated uninterrupted for 113.5 hours vs. 3.5 hours for US capital markets. Networks from Google, Apple, Facebook, & Amazon also operated uninterrupted. No one is going to settle for 3.1% availability from their monetary network.
— Michael Saylor (@michael_saylor) November 30, 2020
Notorious Bitcoin naysayer Peter Schiff also voiced his opinion. He suggests that the price rise is entirely based on a rumor. He also claims that no new money is coming in, but instead, it was old money that cashed out profits.
Schiff once argued with Tyler Winklevoss that Bitcoin was going to crash. A heated exchange with the Gemini co-founder regarding Bitcoin’s rise followed. Schiff is not afan of the big price swings Bitcoin seems to record every so often.. While Winklevoss predicted BTC’s baseline for all future dips would be $10,000, Schiff became more bearish. In his opinion, Bitcoin could be consolidating before a crash.
The news that Guggenheim is contemplating putting as much as $500 million into GBTC has sent the price of #Bitcoin to a new high. I doubt Guggenheim is dumb enough to actually do this, but they may be smart enough to float the rumor to help pumpers manipulate the price higher.
— Peter Schiff (@PeterSchiff) November 30, 2020
What is Next for Bitcoin?
Amid the excitement, analysts speculate that Bitcoin’s next objective is breaking the $20,000 barrier.
Anthony Pompliano, host of the Pomp Podcast, is a known BTC bull. He predicts that by 2021, Bitcoin will be priced at $100,000. The Co-founder at Morgan Creek Digital has always remained optimistic about Bitcoin.
Holy shit. Bitcoin is really making a run at $20,000 this morning.
Currently sitting at $19,720.
— Pomp 🌪 (@APompliano) November 30, 2020
Others project above $20,000. Tyler Winklevoss, the co-founder of Gemini, says BTC will go onward and upward “to the moon.” Tyler and his twin brother Cameron predict that BTC can hit $500,000 one day. In their opinion, it will remain the best performing asset of the decade.
— Tyler Winklevoss (@tyler) November 30, 2020
Similarly, Binance CEO Changpeng Zhao suggested “slapping yourself” if you sold BTC. He still expects a price of $300,000. Zhao predicted in the past that the lowest Bitcoin would ever dip to again is $4,000. He once said in an interview that Bitcoin will eventually replace gold as the most favored safe-haven asset.
What are your expectations for Bitcoin in the future? Let us know in the comments below!
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