According to many bullish analysts, the new Bitcoin rally or the rapid growth of its price has just begun. Despite a very early cycle, cryptoinvestors are already making their predictions about what the price of cryptocurrency may be in the near future.
A large share of attention is focused on Bitcoin due to its apparent dominance in cryptographic markets. According to analysts, altcoins are still highly dependent on the price of the main cryptocurrency. In this case, according to the strategy officer of the largest cryptocurrency exchanges Binance, Bitcoin can grow by 750 percent.
For Bitcoin Will Pay A Six-Figure Sum
In a recent BlockTV news release, Jin Chao, a key employee of the Binance strategy department, shared his thoughts on the prospects for Bitcoin. In his opinion, historical trends speak of a great undisclosed potential of crypto markets.
#WEEKINREVIEW: “If you look at historical patterns you are probably looking at new highs at least for bitcoin in the $50,000-100,000 range.” – Gin Chao, @Binance Strategy Officer. Check out the full interview at: https://t.co/9EOuzS6ktu pic.twitter.com/lvnU0GntaE
— BLOCKTV (@BLOCKTVnews) June 30, 2019
Chao sees that a certain “turning scenario” will happen in cryptocurrency markets. At the same time, progressive investors are learning to separate good digital assets from unpromising ones, and Bitcoin obviously falls into the first category.
Chao is not the only industry analyst who predicts six-digit numbers for Bitcoin. For example, Naim Aslam from Think Markets U.K. stated that while BTC is keeping above the 242-day moving average. And this is slightly unusual compared to the traditional 50- or 200-day averages, which means the correction is unlikely.
As he notes, in the near future Bitcoin will be close to the mark of $20,000, and in the long term, figures at the level of $60,000 and $100,000 are quite likely.